News

A week after rival Home Depot announced plans to 80,000 seasonal spring employees, Lowe’s announced its plans to hire approximately 25,000 seasonal employees at its U.S. stores for the busy spring season.

Seasonal jobs available are focused on customer support and include cashiers, lawn and garden employees, loaders and stockers.

Ann Arbor, Mich. - Customer satisfaction improved for a third consecutive year for retail. According to a report released by the American Customer Satisfaction Index (ACSI), the retail sector overall gained 1.7% to an ACSI benchmark of 77.9, boosted by higher customer satisfaction with specialty retail stores, supermarkets, drug stores, and gasoline service stations.

Ace Hardware’s unique value proposition allowed it to withstand strong competition from Home Depot and Lowe’s in 2013 and grow annual sales by a 8.2% to a record $4.2 billion.

“We outperformed our operating plan, exceeding $4 billion in consolidated revenues and $100 million in net income for the first time in our history,” said president and CEO John Venhuizen.

Net income was $104.5 million for fiscal 2013, an increase of $22.7 million, or 27.8%, compared with $81.8 million in fiscal 2012.

New York -- Traditional retail categories are increasingly blurring, and more and more shoppers are turning to drug stores and other types of outlets to buy groceries, according to a survey of Millenial, Gen X and Baby Boomer consumers. The study was conducted by retail design firm King Retail Solutions in conjunction with the University of Arizona Center for Retailing.

Foot Locker has elected Steven Oakland, president of international, foodservice and natural foods at the J.M. Smucker Company, as a director of the company.

Oakland has spent the bulk of his career at J.M. Smucker serving in increasingly senior positions. He has experience in domestic and international retail operations at the company, having also served as president of U.S. retail for Smucker's, Jif and Hungry Jack, and as GM of its Canadian operations.

Hamilton, Bermuda - In a deal that would combine the two largest mid-tier jewelry chains in the United States, Signet Jewelers Ltd. has agreed to buy rival Zale Corp. for about $690 million dollars. Signet will offer $21 in cash for each Zale share, representing a 41% premium over Tuesday's closing price.

The Hertz Corp. and Costco in the U.K. have teamed up to bring short-term Hertz 24/7 van rental to Costco's members.

The self-drive service operates at all 25 Costco warehouses in the U.K. Costco's members can hire a van from the warehouse car parks to drive their purchased items home immediately.

Hampstead, Md. - JoS. A. Bank Clothiers, Inc. has commenced a tender offer to purchase up to $300 million in value of shares of its common stock at a price of $65 per share. The closing price of the company's common stock on Feb. 18, 2014 was $54.20 per share.