Glenn brothers open 17th hardware store
According to an article in timesfreepress.com, brothers Tom and Grif Glenn opened an Ace Hardware store in Chickamauga, Ga. last week. The store is the 17th in the chain owned by the brothers.
The Glenn Brothers run the retail company, The Helpful Group, which was founded by their grandfather in 1919, the article reported.
Saint-Gobain closes China DIY stores
Global construction supplier and retailer Saint-Gobain has closed its La Maison building material stores in China, according to a report in Agence France Presse.
La Maison’s 86,000-sq.-ft. flagship store and six design showrooms in Shanghai stopped operating during the week of March 10, a company spokesman told AFP. He blamed recent measures by the Chinese government to cool the housing boom and the change in construction practices, which are building more “finished” properties outfitted with electrical, plumbing and other “pre-decorations.”
China’s attempts to rein in real estate sales over the past year include raising minimum down payments, banning second and third home purchases in some cities and introducing property taxes in Shanghai and Chongqing.
Many retailers are struggling to find their stride in China, including Home Depot, which closed five of its 12 stores there last year, exiting the Beijing market altogether.
Mixed story for hardware store sales
The Census Bureau’s Monthly Retail Trade Report showed sales for hardware stores — NAICS code 44413 — were $1.298 billion in January, the most recent month of available data in this business classification. That’s down 22.9% from December’s unadjusted figure of $1.683 billion.
But the rush on extra ice melt and shovels had a positive side: January sales were up 1.6% compared with January 2010.
The data was released Tuesday along with advanced monthly retail sales for February.