Home Improvement

Conshohocken, Pa. -- Ikea has begun significant demolition of a 30,145-sq.-ft. building adjacent to its Detroit-area store in Canton, Michigan. Razing of the vacant retail building will make room for the Swedish retailer’s planned expansion of its Canton location. The 311,000-sq.-ft. store, which opened June 2006, will grow nearly 44,000 sq. ft., with the project’s completion by summer 2015.

Indianapolis - Hhgregg has redeveloped a store in Columbus, Ohio, with a new store format. Developed by real estate company Casto, the store opened Sept. 18, and employs 26 associates.

“Working with Casto to update the Sawmill location allows us to best serve our loyal Columbus-area customers,” said Dennis May, Hhgregg CEO. “Our best-in-class products and expert sales associates make this and our five other Columbus-area stores a destination for a superior appliance, furniture and electronics shopping experience.”

Union, N.J. – Bed, Bath & Beyond Inc. reported net earnings of $223.95 million in the second quarter of fiscal 2014, down 10% from $249.3 million but still ahead of Wall Street projections. Increases in both interest expense and selling, general and administrative expense helped reduce net earnings.

Mooresville, N.C. - The U.S. Environmental Protection Agency (EPA) has awarded Lowe's Companies Inc. the highest honor for industry leadership in its SmartWay Transport Partnership. Lowe's received a 2014 SmartWay Excellence Award for superior environmental performance in supply chain operations.

Atlanta -- Assurant Solutions and Nebraska Furniture Mart celebrated the 10th anniversary of their relationship by signing a multi-year contract extension recently, covering underwriting and administration of extended service contracts on appliances and electronics.

New York -- Sears Holdings Corp. said in regulatory filing that it would borrow $400 million from the hedge fund of its CEO, Edward Lampert, who is also the company’s largest shareholder.  

Sears received the first $200 million of the loan from Lampert's ESL Investments on Monday, and expects to receive the remaining amount on Sept. 30.

The company said it would use the money for “general corporate purposes.

Indianapolis – Hhgregg Inc. has hired Robert J. Riesbeck as CFO, effective Sept. 15. Riesbeck brings more than 25 years of experience in financial and operations management, most recently serving as Operations Executive/Group CFO at Sun Capital Partners, where he was responsible for financial and operations oversight of a group of portfolio companies with combined revenues exceeding $5 billion.