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Hardware Stores

  • Mills Fleet Farm names new CEO

    Mills Fleet Farm has ended its hunt for a CEO.   The Midwest retailer announced the appointment of Derick Prelle as president and CEO succeeding Wayne Sales, who has been serving as interim chief since January 2017. Sales was given the position following the departure of Duncan MacNaugton, who left to become president and COO of Family Dollar.   

  • Analysis: Despite soft Q1, outlook for Lowe's is still optimistic

    Although overall sales at Lowe's increased by double digits, the somewhat softer comparable numbers and the decline in net income have taken a little of the shine off first quarter performance.  

  • Lowe's off to soft start in Q1

    Even with a double-digit sales increase, Lowe's Companies still managed to disappoint analysts with first quarter profit and comparable sales that missed their estimates.   Sales rose 10.7% to $16.9 billion, up from $15.2 billion in 2016. Same-store sales rose 1.9%, below the 2.6% increase expected by analysts polled by Consensus Metrix.  

  • Ace gains on income with minimal movement on revenue

    Ace Hardware reported a slight increase in revenue during the first quarter, as well as more substantial progress in net income.   Revenue came in at $1.2 billion, up 0.1% from the first quarter of 2016. Net income of $28.3 million was up 8.4% over the year.   Same-store sales were down 0.2% due to decreased customer traffic, reported by the approximately 3,000 Ace retailers who share daily retail sales data.  

  • Ace Hardware streamlines East Coast distribution operations

    In a major restructuring of its eastern U.S. distribution network, Ace Hardware Corp. intends to open a new 1.1. million-sq.-ft. Retail Support Center in Pennsylvania while closing a handful of other facilities.   The moves will play out over the next 24 months.  

  • Eco-friendly retailer to open first of its kind home improvement store

    A home improvement start-up with a green conscience is expanding out of its Austin, Texas, hometown.    TreeHouse will open the nation’s first-ever net-zero energy store on June 1, at The Hill, a shopping center in Dallas. The store will be the retailer’s second location, but not for long. An additional store, planned for the Plano area, is due to open this fall.   

  • Ace Hardware subsidiary names new leader

    Ace Wholesale Holdings has appointed a new executive to drive the company’s ongoing expansion.   Mark Spanswick was named president and general manager of Ace Wholesale Holdings LLC, a subsidiary of Ace Hardware Corp.   

  • Home improvement chain expands virtual “how-to” classes

    Virtual reality is making its way to Canada — Lowe’s Canada, that is.   On the heels of Lowe’s “Holoroom How To” virtual reality-based DIY skills-training clinic debut in the chain’s Framingham, Massachusetts store last month, the concept is now available in Lowe’s Canada’s Burlington, Ontario location.  
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