Hardware Stores

Brentwood, Tenn. -- Tractor Supply Co. said Thursday that, as part of its planned management succession, current president and COO Gregory Sandfort will assume the role of president and CEO, effective Jan. 1. He will also be appointed to the board of directors at that time.

Current chairman and CEO James Wright will be appointed executive chairman of the board with a one-year term.

Prior to his tenure at Tractor Supply, Sandfort was president and COO of Michaels Stores.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. said Friday it will add two California stores to its rollout of a new neighborhood format, with the grand re-openings of a pair of stores in the company’s hometown of San Jose on Oct. 6.

Both stores have been operational for years, but the company said that the reformatting is so significant that they would be marked by grand re-opening celebrations.

Total home improvement dollars increased by 7% when comparing the 12 months ended July 2012 with the previous 12 months, according to consumer research from The NPD Group.

The units of home improvement items sold grew less than 2%, according to the Port Washington, N.Y.-based research firm.

Much of the unit growth in the home improvement industry was driven by hand tools, the second largest segment based on unit sales after storage and organization. Hand tools saw an 8% increase in units between August 2011 and July 2012.

Morrisville, N.C. -- Lowe’s Cos. Inc. said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona’s dealer companies, many of whom threatened to sever their ties with Rona should Lowe’s succeed in its acquisition attempt.

OAK BROOK, Ill. — Ace Hardware Corp. has reported substantial growth and expansion in priority markets across the country.

“Our aggressive, long-term growth strategy features a total package of resources and support to ensure a successful future for our retailers,” said Mike Berschauer, director, retail development for Ace Hardware. “After a prosperous second quarter focused on store activations and conversions, Ace is on-track to achieve its goal of opening 170 new domestic stores in 2012.”
 

Oak Brook, Ill. -- Ace Hardware Corp. has reported substantial growth and expansion in priority markets across the country.

“Our aggressive, long-term growth strategy features a total package of resources and support to ensure a successful future for our retailers,” said Mike Berschauer, director, retail development for Ace Hardware. “After a prosperous second quarter focused on store activations and conversions, Ace is on-track to achieve its goal of opening 170 new domestic stores in 2012.”
 

Towson, Md.-based Black & Decker has introduced the GYRO 4V MAX Lithium-ion Rechargeable Screwdriver (BDCS40G).

The manufacturer describes the new product as “the world’s first motion-activated screwdriver.” It uses gyroscopic technology that allows users to rotate their wrist one-quarter turn to the right for forward or left for reverse.

The variable speed feature and direction change that occurs with a twist of the wrist provide improved control while screwdriving, the company said.

Black & Decker has introduced the GYRO 4V MAX Lithium-ion Rechargeable Screwdriver (BDCS40G), a motion-activated screwdriver that controls variable speed and direction. The variable speed feature and direction change that occurs with a twist of the wrist provide improved control.

With the screwdriver’s gyroscopic technology, users only need to rotate their wrist one-quarter turn to the right for forward or left for reverse.