Home Improvement

CHARLOTTE, N.C. — Electrolux Major Appliances North America has named Daren Couture as SVP of end-to-end supply chain. Couture will oversee the company’s supply chain and nine manufacturing facilities in North America, including the newest cooking appliances facility located in Memphis, Tenn. 

Driven by strength in its baby and parenting and tools business units, Newell-Rubbermaid grew second quarter sales 3.5% to $1.47 billion, but profits fell slightly to $109.8 million, or 37 cents a share, compared with $111.8 million, or 38 cents a share, the prior year.

Earnings per share surged to 50 cents a share if restructuring and restructuring related costs and discontinued operations are removed from the profit picture.

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.

Alameda, Calif. -- MBH Architects has appointed Klas Eklof and Oliver Mellows as principals for the 170-person firm.

Eklof and Mellows, each both employees of MBH for more than a decade, are looking forward to expanding their leadership roles during a time of exciting growth with increasing portfolios and branded projects, expanding opportunities for the firm.

MBH specializes in retail, residential, hospitality, mixed-use, workspace, and healthcare architecture and design. Their portfolio includes many well-known global clients and projects. 

Tractor Supply solidified its positioned as the nation’s leading operator of farm and ranch stores during the second quarter with the opening of 26 stores and a better than expected 7.2% same store sales increase which prompted an increase in full year guidance.

Abilene, Kan. -- Alco Stores Inc. has entered into an agreement to be acquired by private investment firm Argonne Capital Group LLC.

The Atlanta-based Argonne will acquire all the outstanding share of Alco's common stock for $14 per share in cash. The proposed transaction, expected to close later year, would total about $47 million.

Alco's board of directors has unanimously approved the merger agreement and is recommending that shareholders approve it.

IRVING, Texas — Holiday shifts adversely affected quarter-to-date performance at Michaels Stores, which reported net sales of $631 million for the nine-week period ending July 6, a decrease of 0.1% from $631.8 million for the comparable period last fiscal year. 

Same-store sales for the same fiscal period declined 2.7%. The company's quarter-to-date performance was also adversely affected by the timing of media activity due to the impact of the 53rd week in fiscal 2012. However, as a result of the shifts, the company has seen improvement in July sales performance.

Flooring specialist Lumber Liquidators reported a 14.9% second quarter same store sales increase and became the latest company to benefit from a resurgent housing and home improvement market.

Lumber Liquidators, operator of 300 stores, said total sales increased 22.2% to $257.1 million from $210.3 million during the second quarter ended June 30. Gross margins expanded to 41.3% from 37.3%, reflective of a reduced sourcing costs, higher prices and improved operational efficiencies, which translated to significant profit growth. Net income surged 67.7% to $20.4 million.