Hardware Stores

Ace Hardware reported somewhat mixed results for its third quarter with 8.9% growth in revenues compared to 2012, and profits that were essentially flat compared to the prior year quarter.

The hardware cooperative netted $1 billion in revenues for the quarter, an increase of $84.4 million over the same quarter in 2012.

Meanwhile, net income came in at $34.4 million, little changed since 2012's figure of $34.3 million.

Tractor Supply Company has elected Cynthia T. Jamison to its board of directors. Jamison will succeed James F. Wright as chairman of the board upon the conclusion of Wright's term at the end of the year.

Wright will resign his position as a board member effective December 31, 2013, consistent with his plan to serve as executive chairman of the board with a term of one year, as previously announced in September 2012.

Brentwood, Tenn. -- Tractor Supply Company announced that its board of directors has elected Cynthia T. Jamison, 54, to succeed James F. Wright as chairman of the board upon the conclusion of Wright's term at the end of the year.

Jamison will become chairman effective January 1, 2014. Wright will resign his position as a board member effective December 31, 2013, consistent with his plan to serve as executive chairman of the board with a term of one year, as previously announced in September 2012.

Hoffman Estates, Ill. -- Sears Appliance & Hardware has debuted a smaller, neighborhood model format that will become a company standard for all new locations going forward. The new store, in Dallas, is also the first brand new Sears Appliance & Hardware store to open in the past ten years.

The opening of a new Sears Appliance & Hardware store in Dallas, Texas, marks two milestones for the hardware subsidiary operating under Sears Hometown and Outlet Stores. It is the debut of the smaller, neighborhood model that will become a company standard for all new locations and the first brand new Sears Appliance & Hardware store to open in the past 10 years.

Fortune Brands Home & Security, a leading home and security products company, has named Jason Baab as VP of mergers and acquisitions. His role will support the company’s growth strategy that includes expanding its portfolio.

The company also promoted Elif Sagsen-Ercel to VP of strategy. Baab and Sagsen-Ercel will report to Chuck Elias who was elected by FBHS earlier this year as SVP of strategy and corporate development.

Brentwood, Tenn. — Tractor Supply Co. has announced the opening of its first store in Wyoming. The new store marks Tractor Supply’s continuing expansion in the Western U.S.

The new store in Rawlins opened for business on October 19 and will hold a grand opening event on Oct.26. As of Sept. 28, Tractor Supply operated 1,245 stores in 47 states.
 

Sherwin-Williams cited higher paint sales volumes in its Paint Stores Group and acquisitions as helping to drive net sales growth. 

The company increased net income 12%, to $262.97 million from $234.95 million, during the third quarter of fiscal 2013.

Net sales grew 9.4% to $2.85 billion from $2.6 billion.