Home Improvement

Bentonville, Ark. -- Walmart U.S. reported Saturday that its Black Friday events were its “best ever,” and followed on the heels of what U.S. president and CEO Bill Simon described as an “impressive Thursday,” on which 22 million customers shopped U.S. Walmart stores.
 

Tommy Bahama has dropped anchor in Manhattan, opening a 13,000-sq.-ft. flagship on Fifth Avenue. It’s the island-inspired brand’s first store in the Big Apple, and also its biggest location to date, with 5,000 sq. ft. of retail, along with a 1,300-sq.-ft. bar on the first floor, and 6,700-sq.-ft. restaurant on the second floor.

Los Angeles -- Urban Partners and Harbor Urban announced that David Walker has joined the company as VP capital markets.

Walker will be responsible for actively procuring debt and equity capital for both entities. The firm is currently focused on urban infill assets in West Coast markets and, together with AREA Property Partners, recently acquired Seattle-based Harbor Properties and merged it with Urban Partner’s local office to form Harbor Urban.

New York -- Lowe's Cos. said Monday that its third-quarter net income jumped 76%, helped by lower costs and higher revenue. Its adjusted earnings without charges and its revenue both beat Wall Street forecasts.  

Lowe's earned $396 million for the three months ended Nov. 2. That compares with $225 in the year-ago period. Revenue rose 2% to $12.07 billion from $11.85 billion. Same-store sales were up 1.8%.

Positive same-store sales in 12 of 14 merchandise categories at Lowe’s pushed third-quarter profits up 76%.

Lowe's reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago on revenues that increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion. Same-store sales increased 1.8%.

Lowe’s president and CEO Robert Niblock called the results solid and said the company is focused on improving execution, delivering value and increasing product differentiation.

WEST LONG BRANCH, N.J. — Sleep Innovations, designer and manufacturer of memory foam products, has been acquired by an affiliate of Sun Capital Partners. The private investment firm specializes in leveraged buyouts and investments in market-leading companies.

Baltimore -- Danfloss,  a manufacturer of high-efficiency electronic and mechanical components and controls for air-conditioning, heating, refrigeration and motion systems, and provider of energy management and control solutions for the food retail industry, was chosen by Supervalue to provide a range of energy-saving products and support for a remodel project that has resulted in the development of the company’s first grocery store operating 100%  on natural refrigerants.

Atlanta -- An improved housing market boosted Home Depot in its latest quarter, as the home-improvement retailer reported Tuesday that net income for the third quarter rose to $947 million from $934 million in the year-ago period.

Revenue climbed 4% to $18.13 billion, edging Wall Street’s estimated $17.92 billion in revenue. Same-store sales rose 4.3% in the U.S. and 4.2% overall.