Hardware Stores

The country's second largest home center chain posted sales of $12.2 billion in its first quarter ended April 29. That's down 1.6% as the one-two punch of bad weather and weak economy took its toll.

The company's earnings also declined -- down 5.7% to to $461 million. Comparable store sales were down 3.3%.

TOWSON, Md. —  Black & Decker has introduced its new Steam-Mop featuring trademarked SmartSelect technology that enables users to use the mop on a variety of floor types. When the right setting is chosen the mop will release the required amount of steam needed to clean the floor.

The mop works with regular tap water, thus eliminating the need for harsh chemicals, the company reported. According to Black & Decker, this mop can kill  99.9 percent of germs to achieve a clean home the all-natural way. 

New York City -- For a fifth consecutive year, Ace Hardware ranks highest in satisfying home improvement retail store customers, according to the J.D. Power and Associates 2011 U.S. Home Improvement Retailer Satisfaction Study(SM). The study, now in its fifth year, finds that home improvement store shoppers are more satisfied with store facilities, merchandise and pricing in 2011, compared with 2010.

Atlanta -- The Home Depot Foundation announced that it has created a $1 million weather impact fund to aid relief, recovery and rebuilding efforts in response to the recent storms throughout the Southeast and Midwest United States, and in expectation of continuing violent storms throughout the spring season.

Brentwood, Texas -- Tractor Supply Co. said Thursday it approved a $600 million stock buyback program, increases its existing share buyback program to $1 billion. The program was established in February 2007, and is extended through April 30, 2015.

The chain said it will also increase its quarterly cash dividend to 12 cents per share.

Jacksonville, Fla. -- Atlanta-based Newmark Knight Frank Capital Group said it has been retained as exclusive marketing agent for Crossroads Square, a 174,153-sq.-ft. neighborhood retail center in Jacksonville, Fla.

Anchor tenants at Crossroads Square include Floor & Décor, Office Depot, Harbor Freight Tools and Dollar General.

In a move to boost its competitive footing against the warehouse home centers, Ace Hardware Corp. is planning a paint-and-primer-in-one launch later this year.

Ace executives describe the paint as a "flagship new product" by providing convenience and ease of application. The branding of the new product will be unveiled when the launch occurs, possibly during the third quarter of this year.

HOFFMAN ESTATES, Ill. -- Sears announced that it has launched the Sears Blue Tool Crew "Do It Together" program to honor unsung heroes who use their tools and talents for the greater good of the community. According to Sears DIT is the national expansion of the "Unsung Heroes: Dads Making a Difference" Father's Day initiative that recognized dads across the country in 2010.