IKEA opens to fanfare in Cincinnati
Few retailers are able to generate as much excitement around a store opening as Sweden-based IKEA, exemplified by the crowds at a grand opening of the company’s first Ohio store near Cincinnati yesterday.
The opening of the store, based in West Chester, Ohio, included costumed dancers and singers from the Swedes of Greater Cincinnati, and several door prizes, including gift cards and merchandise. Security officials were turning some shoppers away, who then circled the store until they could get inside, according to the Cincinnati Enquirer.
Some customers staked out the store “for nearly 48 hours — the maximum allowed by the store,” explained the Indianapolis Star.
According to the Oxford (Ohio) Press, an estimated 10,000 customers entered the store in the first hour after its 9 a.m. grand opening.
The new IKEA store features three model homes, 50 room settings, a supervised children’s play area and a 300-seat restaurant.
Other Ikea retail locations in the Midwest include stores in Bloomington, Minn.; Schaumburg, Ill.; and Canton, Mich., a location that opened just two months ago.
Wolseley makes acquisitions in U.S., abroad
Stock Building Supply, the industry’s second largest pro dealer, has purchased Precision Doors & Hardware, a company specializing in the sales, installation, service and repair of commercial and industrial doors, frames, door hardware, washroom accessories and control systems. Precision Doors & Hardware operates from five locations in the Washington, D.C., area. In 2006, the most recent year made available, the company posted revenues of $43.3 million.
Ferguson Enterprises, Stock’s sister company, has acquired assets of two companies: C.B. Group, which does business as JC Plumbing Supply in San Francisco. JC Plumbing is a distributor operating from two facilities. Revenues in 2006 were $4.4 million. The other acquisition was Mastercraft Cabinets, a cabinet distributor operating from a single facility in Naples, Fla. In 2006, Mastercraft had revenues of $5.1 million.
Since the beginning of its fiscal year on Aug. 1, 2007, U.K.-based Wolseley, the parent company of Stock and Ferguson, has spent $66.2 million to acquire a total of 15 bolt-on acquisitions in Europe and North America. These 15 acquisitions are expected to add approximately $527.6 million in revenues annually.
Death penalty sought in store manager shooting
The Orange County District Attorney’s Office has charged Jason Russell Richardson, a man accused of shooting and killing a Home Depot store manager, with one count of murder during the commission of a robbery, a special circumstances charge that carries the death penalty in California.
Richardson is being held without bail. According to the Tustin Police Department, the 37-year-old parolee has been previously convicted of rape, sexual assault on a minor, residential burglary, grand theft, possession of stolen property and narcotics charges.
The victim, assistant store manager Tom Egan, was shot and killed after he came to the assistance of a cashier being robbed at a Home Depot store in Tustin, Calif., on Feb. 9, 2007. The robber came into the store disguised in painter’s coveralls, dust mask and hard hat. Based on DNA evidence left at the scene, police arrested Richardson two weeks later.
Aformer U.S. Marine, Egan is survived by his wife and twin daughters, aged 4. He was an employee of Home Depot for 13 years.