Hardware Stores

The newest addition to the True Value Company cooperative is a 60-year-old hardware chain based in South Florida.

Atlanta -- The Home Depot announced it has completed its $1.625 billion acquisition of Interline Brands.

The home improvement giant has previously announced agreement to acquire Interline, a national distributor and direct marketer of broad-line maintenance, repair and operations products, on July 22, 2015.

True Value's transformation strategy seems to be resonating with shoppers, as the hardware cooperative posted an increase in revenue and sales growth.

The company reported gross billings of $573.6 million for the quarter ended July 4, up 1% from the same period a year ago. Revenue was $431.9 million, an increase of 0.6% or $2.4 million. The cooperative posted a quarterly net margin of $9.3 million.

Mooresville, N.C. – Lowe’s Companies Inc. missed Wall Street expectations for profit but beat the Street with revenue in a mixed second quarter of fiscal 2015. Net earnings totaled $1.13 billion, up 8% from $1.04 billion the same quarter a year earlier.

Lowe’s achieved its lower-than-expected profit increase by limiting growth of costs and expenses while beating expectations with net sales of $17.35 billion, up 4% from $16.6 billion. Same-store sales increased 4.3%.

On the heels of an impressive financial report from rival True Value, Ace Hardware is reporting even better sales in its second quarter.

For the quarter ended July 4, Ace Hardware Corp. had record revenue of $1.4 billion in the second quarter, an increase of 6.5% from last year. Ace’s retail same-store-sales reported by approximately 3,000 Ace retailers who share daily retail sales data increased 6.5% and Ace Retail Holdings LLC rose 4.7% due to an increase in customer count and average transaction size.

Oak Brook, Ill. – Increased retail operating expenses, primarily related to store acquisitions and advertising, helped reduce profit at Ace Hardware Corp. during the second quarter of fiscal 2015. Net income totaled $57.5 million, a 13% drop from $66.5 million the same quarter a year earlier.

Consolidated revenues fared better, rising 6% to $86.2 billion from $84.8 billion.

Chicago - Lawn fertilizer, grass and weed killer, and propane grills were the top three categories driving small-scale growth at True Value Co. during the second quarter of fiscal 2015.

The company reported gross billings of $573.6 million for the quarter ended July 4, up 1% from the same period a year ago. Revenue was $431.9 million, an increase of 0.6% or $2.4 million. The cooperative posted a quarterly net margin of $9.3 million.

Photo: At Broadway and 68th, a 30,000-sq.-ft. store takes shape.

New York -- Lowe’s is giving an overhaul to its store format strategy when it makes its Manhattan debut on Aug. 17.

The North Carolina-based retailer is set to open two stores in the Big Apple, with the first opening on the Upper West Side on Monday, and the second, in the city’s Chelsea neighborhood, in September.