Home Depot

Home Depot has posted double digit comp-store sales in the second-quarter, exceeding its own expectations, thanks to a rebound in seasonal categories.

Net sales at the world's largest home improvement retailer increased 9.5% to $22.5 billion in the quarter ended Aug. 4, compared to $20.6 billion in the same quarter last year. Comp-store sales increased 10.7% across the company, and increased 11.4% among domestic stores.

Net earnings for the quarter were $1.80 billion, up 17.2% from $1.53 billion in last year's 14-week second quarter.

New York -- Canadian home-improvement retailer Rona reported a loss of $136.5 million for the second quarter, compared with a profit of $36.9 million a year earlier, hurt by restructuring costs and tightened market conditions.

According to a report by Reuters, Rona revenue fell 4.6% to $1.21 billion, and same-store sales dipped 1%. Analysts expected revenue of $1.35 billion.

Robert Howard is the newest partner in the Retail and Consumer Products Group at management consulting firm Kurt Salmon.

Atlanta – The Home Depot is recalling about 107,000 Chinese-made fan heaters because the fan's plastic housing can melt, deform and catch fire during use, according to the Consumer Product Safety Commission (CPSC). The Soleil portable fan heaters, marked with model number LH-707, cost about $15 each, and Home Depot will issue a full refund for the purchase price.

The heaters were sold between September 2012 and May 2013 for about $15 each. The CPSC says there have been 464 reports of fans melting, but no injury or property damage has been reported.

Purchase, N.Y. -- Chipotle Mexican Grill has opened at Orange Plaza, an 815,000-sq.-ft. Middletown, N.Y. power-center owned by National Realty & Development Corp.

Orange Plaza’s anchors include a Wal-Mart Supercenter, The Home Depot, Kohl’s Department Store, Burlington Coat Factory, Marshalls, Bed Bath & Beyond and Staples.

The center draws shoppers from a 12-mile radius with a population of more than 157,000. Approximately 20,000 of the 46,000 vehicles passing the center every day are shopping center destination trips.

Schenectady, N.Y. -- Price Chopper Supermarkets said it has named Karlin Bohnert as senior VP of information systems/CIO.

Bohnert most recently served as CIO of RGIS in Auburn Hills, Mich. She joins Price Chopper with more 30 years of strategic IT experience gained at such companies as Walmart, Home Depot, ANF, The Limited and MCI.

Hoffman Estates, Ill. - Sears Holdings on Friday joined the growing list of retailers and other companies severing ties with Southern celebrity chef Paula Deen in the wake of the controversy regarding her use of a racial slur. Both Sears and Kmart sold Paula Deen products.

“After careful consideration of all available information, we have made the decision to phase out all products tied to the brand,” Sears said in a statement. “We will continue to evaluate the situation. Our members’ needs will be given first priority.’

Improvements in the housing market that have lifted the fortunes of Home Depot and Lowe’s so far this year extended to leading home goods retailer Bed Bath & Beyond, which reported solid sales growth late Wednesday.

The company produced earnings per share of 93 cents that met analysts’ consensus estimate and fell with the guidance range of 88 cents to 94 cents, on sales that grew 17.8% to slightly more than $2.6 billion. Same store sales rose 3.4% during the first quarter ended June 1, on top of a prior year comp increase of 3%.

Washington, D.C. – The Retail Industry Leaders Association elected Ron Boire, president of Sears and Kmart, to its board of directors, during its semi-annual meeting in Washington, D.C. 

The board also re-elected Home Depot chair and CEO Francis Blake, 7-Eleven president and CEO Joseph DePinto, Petco CEO James Myers and J.C. Penney CEO Myron Ullman.

Home Depot has plans for a major hurricane preparedness initiative this year, but the program doesn’t begin until nearly two months after residents of storm prone areas should already have plans in place.