Hardware Stores

Cool weather affected sales at Lowe's for the first quarter ended May 3. 

Lowe’s saw net earnings of $540 million for the quarter, a 2.5% increase over the same period a year ago. Sales for the quarter decreased 0.5% to $13.1 billion from $13.2 billion in the year-ago quarter, while comparable-store sales decreased 0.7%. 

The world’s second largest home improvement retailer reported its results a day after rival Home Depot announced first-quarter sales of $19.1 billion, up 7.4%.

The Home Depot shrugged off bad weather, and thanks, in part, to a recovering housing market, the company reported first quarter sales of $19.1 billion, up 7.4% from last year's quarter, which had one less week. 

On a like-for-like basis, comparable store sales for the first quarter were positive 4.3%. U.S. stores comps were positive 4.8%, also on a like-for-like basis.

INDIANAPOLIS — Speaking to the collected body of Do it Best Dealers during the co-op's Merchandising Market Preview here, Steve Markley described light bulbs as a high-interest, high-reward category. 

He encouraged dealers to visit the GE booth, as well as that of new vendor TCP. Vendors and Do it Best executives say that as more options -- and more questions -- hit the light bulb category, the more the hardware store format will benefit. If they have the right products and the right product knowledge, light bulbs can result in big gains. 

Research from DeWalt found that 650 out of 1,000 pros were aware of DeWalt mechanic tools. That's pretty good awareness. But DeWalt didn't have mechanics tools at the time of the survey.

It does now. And a partnership with Sears is bringing DeWalt wrenches, ratchets, sockets and mechanics tool sets online and in Sears stores in time for Father's Day.

DeWalt and Sears executives announced the news during a presentation at the National Hardware Show here at the Las Vegas Convention Center. 

Virginia Beach, Va. -- Divaris Real Estate has announced the completion of several leases for retail space in Virginia Beach, Norfolk and Richmond, Va.  
 
The first lease was signed with O’Reilly Auto Parts for 12,608 sq. ft. in a former Rite Aid pharmacy located in Norfolk.  O’Reilly operates 13 other stores in Hampton Roads.
 

Ace Hardware and the Weather Channel have announced the launch of “Restore Your Outdoors,” which pairs Ace's service with the local weather knowledge from The Weather Channel. 

As part of this program, homeowners from across the country can enter for a chance to win $15,000 in Ace gift cards. In addition to the sweepstakes, Ace’s alliance with The Weather Channel provides homeowners with tips and tools to complete their outdoor home maintenance tasks.

BOUCHERVILLE, Quebec — Canadian hardware retailer and one-time Lowe’s buyout prospect Rona has appointed Alain Brisebois the company’s new EVP and chief commercial officer.

Brisebois will seek to improve operational efficiency and synergy among the company's purchasing, merchandising, procurement and marketing activities.

AVON, Ohio — Duck brand Duck Tape is joining forces with Marvel superheroes the Avengers. The Avengers Duck Tape features Captain America, Thor, Hulk and Iron Man.