Content about Economy of the United States

August 29, 2012

Of all the Home Depot metrics that were reported in its second quarter — including double-digit earnings gains — the comparable-store sales metric of positive 2.1% doesn’t jump off the page.

August 20, 2012

Home Depot is piloting different versions of a contractor-homeowner referral service in four different markets after quietly acquiring Redbeacon.com last January, according to an article in the Atlanta Journal Constitution.

August 17, 2012

Expectations are high that mobile payments represent the future of commerce, and a group of leading retailers this week formed a new organization to offer an alternative way to pay.

The group, Merchant Customer Exchange, will integrate a range of consumer offers, promotions and retail programs available via any smartphone. Participating retailers include Wal-Mart, Lowe's, Sears Holdings Corp. and Target. Additional members are expected to be announced in the coming months.  

August 16, 2012

Hoffman Estates, Ill.-based Sears Holdings reported a second-quarter net loss of $132 million, compared with a loss of $146 million in the year-ago period.

August 13, 2012

A report released Monday by the Associated Press said that Sears Holdings Corp. would be spinning off its Hometown and Outlet stores, along with some hardware stores, into a separate, publicly traded company.

Earlier this year, Sears had revealed it would split the companies but had not indicated the new organization would be a separate public entity.

August 7, 2012

While Lowe’s offer sheet said it would protect Canadian jobs – or even expand them – if it were to acquire Quebec-based RONA, the Canadian Teamsters aren’t so sure.

The Teamsters Union in Canada has come out against a Lowe’s takeover play for RONA, which the Teamsters describe as “a Québec jewel in the hardware and renovation industry.”

August 7, 2012

Orchard Supply Hardware will open a 50,000-sq.-ft. store in Torrance, Calif., showcasing the company’s new store format. 

The South Bay store at 19330 Hawthorne Blvd., the site of a former Kmart store, will open Sept. 1 and marks the company’s 89th store in the state of California.

June 11, 2012

Gas prices decline to a national average of $3.55 for a gallon of regular. Elsewhere on the Dashboard, Home Depot and Sherwin-Williams show strength on the Home Channel Stock Roundup.

June 1, 2012

Against the backdrop of a slowly recovering economy, Home Channel News has once again published its Top 300 Industry Scoreboard — the 300 leading home improvement and building material retailers ranked by sales for the most recent fiscal year. For the second consecutive year, the sales of the Top 300 retailers showed a positive increase over the previous year.

May 22, 2012

The Justice Department and The Home Depot have reached a settlement in a case where the government accused the retailer of unlawfully terminating an employee who was a member of the Army National Guard.

May 17, 2012

Sears Holdings Corp. has announced plans to pursue a partial spinoff of its interest in Sears Canada.

The move will reduce the Hoffman Estates, Ill.-based Sears Holdings’ stake in Sears Canada from 95% to about 51%, the company said. 

May 16, 2012

USG Corp.’s Sheetrock Ultralight panels are available at Home Depot stores nationwide, according to blog site JetsonGreen.com. The product, first tested in 2010, weighs anywhere from 15 to 24 lbs. less than typical gypsum board, depending on the size. It can be used with a 40% lighter joint compound released in January 2012.

May 9, 2012

A tie-down tool called LoopRopes, designed to help safely transport cargo in the back of a truck or car, will find its way into Wal-Mart Stores, according to the Medford, Ore. Based supplier.

Wal-Mart Stores ordered more than 11,000 "LoopRopes" for 1,100 Wal-Marts from the company, making it Jeff Dahl’s largest wholesale order since inventing the product just over two years ago.  

March 27, 2012

After pulling out of a long-planned store project in San Francisco, Home Depot is looking once again at opening its first location inside the city. According to an article in the San Francisco Chronicle, the home improvement retailer has filed an application with the city to build a 120,000-sq.-ft. store on 7.9 acres in the Bayview section. 

March 21, 2012

The Home Channel Hall of Fame will welcome Do it Best Corp. CEO Bob Taylor during an induction ceremony at the 2012 National Hardware Show in Las Vegas.

The Home Channel Hall of Fame has been recognizing outstanding service to the hardware and home improvement industry since 2004. Recent inductees include Larry Stone (2011), president emeritus of Lowe’s, and Pat Farrah (2010), one of the original founders of The Home Depot.

March 15, 2012

According to an article in the Chicago Tribune, the closing of 43 Sears hometown dealer stores and 10 Sears Hardware stores are planned for the first half of 2012.

The latest revelation on Sears' plans to cut its expenses and transform its business came from its annual report, which was released late Wednesday. 

March 15, 2012

Dev Mukherjee, president of the home appliances business at Sears for the past 16 months, has departed the company, according to an article in the Chicago Tribune. A replacement will be named “in a few weeks,” according to a Sears spokesman.

March 13, 2012

A San-Diego area man will be sentenced to seven years and four months in prison after pleading guilty to nine felonies that include making fraudulent purchases at Home Depot stores. According to a story reported by the City News Service, Joel Booth, age 39, used counterfeit checks and identification cards to purchase items at a number of Home Depot stores in San Diego and Riverside counties. Police investigators nicknamed him “The Homer Bandit,” after Home Depot’s original mascot.

March 5, 2012

The National Association of Home Builders (NAHB) has announced a comprehensive reform plan for the housing finance system that would transition Fannie Mae and Freddie Mac to a new mortgage securitization system for single-family and multi-family conventional mortgages.

March 2, 2012

Six Flags Entertainment Corp. has announced a new marketing relationship with Lowe's, which will be named the sponsor of opening weekend at participating Six Flags parks across the nation.

Lowe's will be integrated into Six Flags' marketing efforts on both the national and local levels this spring. Additional support will include social media outreach, radio promotions and in-park giveaways.

February 27, 2012

Sears quietly added all nine of its Great Indoors stores to the list of store closings on Feb. 23.

Store managers were informed on Thursday, a Sears spokeswoman confirmed, but no exact date has been given for the closings.  

The upscale remodeling and home décor stores began opening in 1998, long before the Sears and Kmart merger. At one point, Sears operated 20 of the units, but they were never a big moneymaker for the company. 

February 23, 2012

Sears Holdings Corp. has reported a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

Revenue slipped 4% to $12.5 billion from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

February 22, 2012

The Home Depot this week announced fourth-quarter sales of $16 billion, a 5.9% increase over the same quarter last year. What happened? From Craig Menear's perspective, the answer involves execution, warm weather and strength in maintenance and repair categories.

February 21, 2012

Valley Forge, Pa.-based CertainTeed Roofing gave away a new car in the name of customer service, and through a promotion called "On the Road Again." 

“The ‘On the Road Again’ promotion is a way for us to show our appreciation to loyal customers like Jack Impriano,” said Jay Butch, director of contractor programs for CertainTeed Roofing.

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