Home Improvement

Indianapolis -- Hhgregg reported Friday that net income for the quarter ended Sept. 30 dropped to $3.8 million from $6 million last year. Sales dipped 5% to $587.6 million and same-store sales dropped 8.8%.

According to CEO Dennis May, the electronics and appliances retailer is testing new merchandise and, in the third quarter, will roll out furniture and exercise equipment to all stores. He also said the current fiscal 2013 outlook calls for 20 new store openings from a previous range of 20-22.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. said Wednesday it has named Samantha Osselaer as VP marketing, effective Nov. 5.

Osselaer was most recently senior director, creative and branding, for Overstock.com and has also served as a creative VP for both Smith & Hawken and Macy’s.

As one of her duties, Osselaer will lead the branding and marketing of the chain’s new neighborhood store format that is currently being rolled out.

New York -- A Tuesday report by the Wall Street Journal said that Home Depot and Lowe’s Cos. had deployed hundreds of truckloads of storm-recovery inventory Tuesday into areas impacted by Hurricane Sandy.

Atlanta -- The Home Depot said Monday it has completed its merger transaction with U.S. Home Systems, an exclusive supplier of kitchen and bath refacing products to the home-improvement chain.

The transaction was approved by the stockholders of USHS at a special meeting held on Oct. 26, and USHS’ common stock ceased trading on the Nasdaq at market close.

New York -- The Ikea Group plans to become energy and resource independent by 2020, according to the chain’s new “People & Planet Positive” sustainability initiative.

Miami -- Cooperativa Ceramica d’Imola (CCImola) announced that it is the first Italian ceramic tile manufacturer to be awarded the Authorized Economic Operator Full (AEOF) certificate, a certification issued by the European Union and the U.S. Department of Homeland Security.

The AEOF certificate, a voluntary process, has important benefits in conducting business overseas, and ensures that CCImola is following specific customs procedures efficiently, complying with new security requirements, and conducting business with safety first and foremost.

Santa Monica, Calif. -- The Macerich Co. announced on Monday plans to acquire Kings Plaza, located in Brooklyn, N.Y., and Green Acres Mall, located in Valley Stream, N.Y., on the border of New York City and Nassau County. 

Kings Plaza is being acquired from a subsidiary of Alexander's for $751 million, with a closing date set for late 2012. Green Acres is being acquired from a subsidiary of Vornado Realty Trust for $500 million, with a first quarter 2013 closing date.

San Francisco -- Williams-Sonoma announced that its West Elm division will launch a neighborhood market format, called West Elm Market, on Oct. 25, in Brooklyn N.Y. The Brooklyn store will be followed by the opening of eight Market in-store shops in West Elm stores across the country.