Hardware Stores

Kennesaw, Ga. — Pep Boys has signed a 10-year lease for 5,000 sq. ft. at Orchard Square center in Kennesaw, Georgia.

According to the landlord, Westwood Financial Corp. (www.westfin.com), one of the nation’s largest privately held retail shopping center owners, the space was expanded by 1,000 sq. ft. to 5,000 sq. ft. to meet Pep Boys’ current prototype.

Oak Brook, Ill. -- The J.D. Power 2014 U.S. Home Improvement Retailer Store Satisfaction Study has ranked Ace Hardware “Highest in Customer Satisfaction with Home Improvement Retail Stores” for the eighth year in a row. Ace has captured this ranking ever since the organization began this study eight years ago.

Mooresville, N.C. – Lowe’s Companies Inc. had a generally successful first quarter fiscal 2014 with earnings and sales both rising from the same period a year earlier, although sales missed Wall Street estimates. Net earnings rose 16% to $624 million from $540 million, while net sales increased 2% to $13.4 million from $13.1 million and same-store sales climbed 0.9%.

Bad weather for retail dampened sales at Lowe's, but earnings surged well into the double digits for the first quarter, the company announced Wednesday morning.

Lowe's sales increased 2.4% in the first quarter, rising to $13.4 billion. Comparable-store sales increased 0.9%.

The Mooresville, North Carolina-based retail giant reported a net earnings surge of 15.6% to $624 million for the quarter ended May 2.

Ace Hardware president and CEO John Venhuizen called the company’s first quarter the "best for both revenues and net income in its 90-year history," thanks to strong performance in its core categories.

The co-op reported total revenues of $1.1 billion for the first quarter, up 16.8% from the same quarter last year. Net income was $24.4 million, up from $4.4 million in the year-ago quarter.

Mooresville, N.C. - Lowe's and Porch.com have expanded their strategic partnership to the more than 1,700 Lowe's home improvement stores across the U.S. Every Lowe's store in the country now features Porch as the in-store resource to help homeowners find home improvement professionals for nearly any project outside of Lowe's current installation services.

Westlake Village, Calif. -- Paint retailers with well-trained staffers will drive a more positive purchase experience, this according to the J.D. Power 2014 Paint Satisfaction Study.

Lowe's has promoted Michael P. McDermott to chief merchandising officer, replacing Michael A. Jones, who will assume the role of chief customer officer, effective April 30. The company also named Joseph M. (Mike) Mabry as strategy and experience design executive, replacing Robert J. Gfeller, who left the company last month.

Both Mabry and McDermott will report to Jones.