Hardware Stores

True Value Company has selected a specialty retail veteran as its next chief financial officer.

New York -- Expansion plans are under way at surging Tractor Supply Co., which had a 5.7% increase in same store sales and a 19% increase in earnings in the first quarter.

The Tennessee-based retailer said it plans to open 110 to 115 new stores in 2015, as well as build a new distribution center in Casa Grande, Ariz. For the first quarter, same store transaction count increased 4.8% and average ticket increased 0.8%. Pet and heating consumables, fencing, truck accessories and tools all performed well, the company said.

Lowe's Innovation Labs has come up with a way to allow shoppers to customize every knob, door and handle in their home. 

New York -- On the heels of disappointing sales trends, Sears Hometown and Outlet Stores Inc. said that its CEO W. Bruce Johnson will leave the company Aug. 1.

The company also announced that the board of directors has commenced a search for a new CEO and has retained Heidrick & Struggles, a leading global executive search firm, to assist the Board in identifying and evaluating external and internal candidates.

Ace Hardware is looking to lure more female shoppers into the largely male domain of the hardware store with its latest partnership with OPI.

Following the retailer/s launch last year of an inaugural paint palette from OPI, the hardware cooperative is adding even more colors, including colors from the new Hawaii Collection by OPI.

Fort Wayne, Ind. - Do it Best Corp., a hardware, lumber and building materials cooperative with 3,800 member-owned locations worldwide, has re-launched its ecommerce site on the WebLinc platform.

In addition, the company is unveiling a phased approach to re-launching individual member sites which will enable them to maintain their distinct, customer-facing identities while being integrated and powered by the same sophisticated commerce platform.

Mooresville, N.C. – Reduced stock awards and incentives resulted in a roughly 24% pay cut for Robert Niblock, president, chairman and CEO of Lowe’s Companies Inc., in 2014. In an SEC filing, Lowe’s reported that Niblock’s total compensation in 2014 came to $14.3 million, compared to $18.7 million in 2013.
  Niblock’s base salary grew 5% to $1.3 million from $1.2 million. However, Niblock’s stock awards fell to $5.8 million from $9.8 million, and other incentives decreased, as well.

Cleveland – Increased gross profit resulting from a slowing pace in the cost of goods sold helped boost net income at The Sherwin-Williams Co. during the first quarter of fiscal 2015. Net income totaled $131.4 million, up 14% from $115.46 million the same quarter a year earlier.

Net sales grew 3% to $2.45 billion from $2.37 billion, due primarily to higher paint sales volume in the retailer’s Paint Stores and Consumer groups.