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HBSDealer Stock Watch: Upward movement

BY HBSDealer Staff

The majority of industry stocks finished on a positive note Thursday, led by BECN, up 3.34% and HBP, which gained 3.29%. On the down side, SHLD fell 2.22% and NWL lost 2.17%.

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How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
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People news at PPG

BY HBSDealer Staff

PPG announced an executive move in its industrial coatings division. Tim Knavish will become senior VP, industrial coatings, replacing Shelley Bausch, current VP, industrial coatings, who has elected to leave the company, effective Sept. 30.

Knavish will also assume oversight of PPG’s packaging coatings and coatings services businesses, the global supply management function and the Asia Pacific region. Knavish, currently senior vice president, automotive coatings, will continue to report to PPG Chairman and CEO Michael McGarry.

Gary Danowski will become VP, automotive coatings, reporting to McGarry. Danowski currently serves as vice president, operations, automotive coatings.

PPG had net sales of $14.3 billion in 2016.

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Target’s remodeled store in Minneapolis

BY Marianne Wilson

Target has given its two-level store at Nicollet Mall in downtown Minneapolis a $10 million top-to-bottom overhaul that combines the best of the retailer’s digital and technology upgrades, elevated merchandise presentations and fulfillment services, with a goal to making the shopping experience  fast, efficient and fun.

The Nicollet Mall store is just steps away from Target’s headquarters and is the first in the Twin Cities area to feature its next generation of design elements. The location is one of 45 remodels the retailer has completed to date, with 65 more stores on track be renovated throughout the fall.

The overall look of the remodeled Nicollet Mall store is more modern, and features concrete floors, wood-plank walls, LED lighting, and elevated product displays. An oversized custom mural, designed by local artists and located on the second floor, showcases historic moments and landmarks from Minneapolis — including a nod to the Dayton family, who founded Target’s predecessor, The Dayton Company.

In other key highlights:

  • Merchandise is displayed in “shops” throughout the store. The beauty department, complete with huge digital screens, looks more like a specialty shop, and home   products are displayed in lifestyle settings.
  • The remodeled food and beverage department was moved to the front of the store for customer convenience. The redesign features a market of fresh produce and grab-and-go items, and items cross-merchandised so shoppers can quickly pull together meals
  • The retailer is testing a “Made in MN” product collection near the second floor entrance, which includes a variety of products from local businesses and makers.

“We’re always thinking about the different ways a guest might want to shop on any given day,” stated Joe Perdew, VP, store design, Target, who heads up the chain’s 175-person design team. “Sometimes, they only have 10 minutes and want to grab an order quickly using Order Pickup. Other times, they have 45 minutes — time to grab a coffee at Starbucks and browse the aisles. And sometimes, they want to shop online from the comfort of their couch. Our goal is to make it a great Target experience no matter which way they choose to shop.”

By the end of 2019, Target expects to have remodeled more than one-third of its 1,800 stores.

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How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?