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Home Depot keeps rolling in first quarter

BY HBSDealer Staff

Atlanta-based The Home Depot reported first-quarter sales of $19.1 billion, up 7.4% from last year’s quarter, which had one less week. 

On a like-for-like basis, comparable-store sales for the first quarter were positive 4.3%. U.S. stores comps were positive 4.8%, also on a like-for-like basis.

Cold weather across much of the country hurt spring sales for the home improvement industry, and Home Depot also felt the chill. But the world’s largest home improvement retailer still grew profits and sales. Net earnings for the quarter were $1.2 billion, up from $1.0 billion in the first quarter last year. 

"In the first quarter, we saw less favorable weather compared to last year, but we continue to see benefit from a recovering housing market that drove a stronger-than-expeted start to the year for our business," said Frank Blake, chairman and CEO. 

The company also raised its fiscal 2013 sales guidance. It now expects sales to be up about 2.8% for the year, with comp-store sales up about 4.0% for the year.

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Home channel stocks mixed

BY HBSDEALER Staff

Stocks were mixed at the close of Tuesday, with Orchard Supply seeing the highest increase.

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Benjamin Moore launches Williamsburg collection

BY HBSDEALER Staff

Benjamin Moore joined with The Colonial Williamsburg Foundation’s Williamsburg brand to launch The Williamsburg Color Collection by Benjamin Moore.

The new 144-color palette is “described as an assortment of paint colors authentically rooted in the history of our nation and its founding.” It also represents a mixture of colors from the 18th and 19th century, along with advanced paint technology from Benjamin Moore. 

"This work showcases the close collaboration between two firms steeped in a rich heritage, both with a passion for bringing history into the home," said Carl Minchew, Benjamin Moore’s VP color innovation and design. "The Williamsburg Color Collection by Benjamin Moore offers our customers beautiful shades in a palette of amazing, accurate colors that are as stylish today as they were 250 years ago." 

Colonial Williamsburg’s research team of historians and conservators examined period documents, paint samples, wallpaper and architectural fragments to help develop the line.

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