Big boxes, big numbers
Take Home Depot’s fourth-quarter comps — positive 5.7% — add it to Lowe’s fourth-quarter comps — positive 3.4% — and you have the highest combined comp sum in six years. You’d have to go back to the fourth quarter of 2005 for a higher figure (positive 13.3%).
Sales were also a positive story with a 5.9% fourth-quarter increase emanating from Atlanta, and an 11% increase at Lowe’s.
Here is how the sales stacked up across the past two years for the two industry giants:
The appliance wars
In a preliminary finding, the U.S. International Trade Commission (ITC) has sided with Whirlpool in its anti-dumping petition against Samsung Electronics and LG Electronics. The Benton Harbor, Mich., manufacturer claims it is being harmed by Samsung and LG, which are selling washers made in South Korea and Mexico at below fair value.
The ITC voted 4-1 in favor of the petition, which could lead to the United States imposing anti-dumping penalties and tariffs on residential washer imports by Samsung and LG. The issue is still under investigation by the ITC, which expects to release its final results by February 2013.
In response to the ITC’s preliminary determination, Samsung released a statement pointing out Whirlpool’s dominant market share in the United States and recent announcement of increased earnings. “We are confident that once the full investigation is concluded, it will be concluded that Samsung is in compliance with U.S. trade laws,” the company said.
LG said in a statement that the ITC maintains a “low threshold” for determining violations at this stage and is confident that it will ultimately prevail.
According to the Commerce Department, the United States imported $1.1 billion of washers from Mexico and South Korea in 2010.
On schedule, Marvin’s opens in Fayetteville, Tenn.
After a soft opening earlier this week, the first Marvin’s location in Tennessee will celebrate a grand opening weekend, beginning today.
The store will be the 28th location for Marvin’s Building Materials and Home Centers, and the first in Tennessee. The Leeds, Ala.-based retailer announced plans for the new store back in September.
The store is the first of at least two new store openings the retailer plans for 2012, according to CEO Darrin Gilliam.