Home Improvement

BENTON HARBOR, Mich. -- Whirlpool has introduced an induction cooktop that can boil water up to 52% faster when using the product's "boost" element, the company reported. In addition, the cooktop only generates heat to the cookware it touches making it more efficient and easier to clean than earlier Whirlpool models.

The Whirlpoolinduction cooktop (model GCI3061XB) is available at retailers nationwide with an MSRP of $1,349.

BENTON HARBOR, Mich. -- Whirlpool Corporation announced fourth-quarter net earnings of $171 million, or $2.19 per diluted share, compared with $95 million, or $1.24 per diluted share reported during the same period last year.  Fourth-quarter adjusted diluted earnings per share totaled $2.11 compared with $1.67 in the prior year.  Sales of $5 billion increased 4% from the fourth quarter of 2009.

Fourth-quarter operating profit totaled $202 million compared with $199 million in the prior year.  

HOFFMAN ESTATES, Ill. -- Sears Holdings announced that as part of the continuing transformation of the company, Scott Freidheim has been appointed EVP, president Kenmore, Craftsman and DieHard.

"Scott is a strong leader who will heighten our focus on our Kenmore, Craftsman and Diehard brands," said Bruce Johnson, interim CEO and president of Sears Holdings. "I believe he will be a tremendous asset to this business as we drive new ideas forward."    

San Francisco -- Williams-Sonoma said Tuesday that its board has approved a $125 million stock repurchase program.

The retailer said the new program will likely be completed by January 2012. It does not have an expiration date. The company said it had completed a $65 million stock repurchase program approved in September 2010.

Williams-Sonoma, which runs Pottery Barn, West Elm, its namesake stores and other brands, had about 105.1 million outstanding shares as of Nov. 28, 2010.

TOWSON, Md. — Black & Decker has announced the availability of its RapidRoller paint roller. According to the company, the RapidRoller provides a convenient, easy-to-use solution for painting projects, and helps consumers complete those projects up to two times faster than with traditional rollers.

RapidRoller's features include a handle that holds and dispenses paint and an exclusive three-position pivoting roller frame that allows users to paint up to the edge, in tough-to-reach corners and narrow locations like hallways, closets and bathrooms.

MOORESVILLE, N.C. -- Lowe’s announced that Larry Stone, president and chief operating officer since 2006, will retire on June 2 -- his 42nd anniversary with Lowe’s. Stone has served in virtually every leadership position within store operations, merchandising and store environment during his career.

New York City -- The Home Depot  has closed its last store in Beijing, highlighting the difficulties that some western companies face when trying to transplant foreign business models into China.

Home Depot, which has closed five stores on the mainland in the past two years, is struggling to find the right business format for one of the world’s most difficult home-improvement markets, local analysts said.

BRENTWOOD, Tenn. -- Tractor Supply Company reported that net sales for the fourth quarter increased 19.7% to $1.03 billion from $862.5 million in the prior year's fourth quarter.  Same-store sales increased 13.1% compared with a 0.7% increase in the prior-year period.  

Net income for the quarter was $50.2 million, or 67 cents per diluted share, compared with $37.3 million, or 51 cents per diluted share, in the prior year's fourth quarter.