Historic hardware store looking for buyer
Aztec Hardware, a hardware store located in the four corners regions of New Mexico, will close this coming January unless the owner finds a new buyer, according to an article in the Farmington Daily News.
In operation since at least 1924, Aztec Hardware is operated by Joe McWilliams, who began working at the 5,000-sq.-ft. store when his father purchased it in 1971. McWilliams and his wife Vicki now run the operation but want to retire. The couple have two adult children, but neither is interested in taking over the business, according to the article.
The 58-year-old dealer said he’s open to selling or leasing the building for other uses. The business has been up for sale for years.
No one in town seems to know exactly how old the hardware store is, although it might date to the turn of the century. Located on Main Street, Aztec Hardware is part of the town’s State Historic District, which was added to the National Register in 1985.
HDW gets into the sporting goods game
Hardware Distribution Warehouses reported record attendance at its Fall Market Kickoff Classic in Louisiana, an event that showcased HDW’s product expansion into sporting goods.
The HDW Fall Market was held Sept. 7 to 9 at the Shreveport Convention Complex in Shreveport, La.
HDW also unveiled its new Sporting Goods products expansion, which included more than 35 new vendors with products including coolers, wild game attractants, fishing equipment and deer stands — many of which are made in America.
New sporting goods vendor Cayle Boudreaux of Hudalla and Associates stated: “In today’s economy we are seeing a steady rise in hunting products and sporting goods sales, and are excited to be a part of its growth with HDW and its dealers.”
Retailers in attendance representing more than 300 stores took advantage of special purchases, new product information and more than 230 vendor booths, according to HDW.
CEO and President Kenneth Beauvais said HDW experienced an 21% sales increase compared with last year’s event. “These results continue to show steady economic improvement and growth in our region,” he said.
Hardware Distribution Warehouses is an employee-owned company and provides independent hardware and lumberyards a complete source for retail products. HDW has distribution centers located in Greenwood, Miss., and Shreveport La., and is a member/ owner of Distribution America, the nation’s largest network of independent hardware and paint sundries wholesale distributors.
Orchard Supply Hardware sees Q2 sales decline
San Jose, Calif.-based Orchard Supply Hardware reported second-quarter sales of $194.1 million for the quarter ended July 28, down 1.2% from the same quarter last year.
The company also posted a second-quarter net loss of $26.7 million, compared with earnings of $3.9 million in the second quarter of 2011.
Comp-store sales, however, inched up 0.9%.
“We are pleased to have generated positive comp store sales in an economically challenging and highly competitive promotional environment,” said CEO Mark Baker. “We continue to make progress against our initiatives to reposition the business, strengthen our financial condition and drive profitable long-term growth.”
The company is on track to open three new stores and remodel six Orchard locations in 2012. As of July 28, the company had 88 stores, all in California.
Baker said the company conducted a sale-leaseback transaction on six stores and it is exploring options to refinance long-term debt.