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IKEA prepares for Denver-area opening

BY HBSDealer Staff

IKEA’s Denver-area store will open in Centennial, Colo., on July 27.

IKEA Centennial is the Swedish company’s first store and restaurant destination in Colorado, 38th in the United States, and 324th worldwide. The 415,000-sq.-ft. IKEA Centennial is located on 13.5 acres along the western side of Interstate 25, north of the Park Meadows area, accessible via the County Line Road exit. 

Colorado Governor John Hickenlooper, Centennial Mayor Cathy Noon and IKEA U.S. president Mike Ward will join IKEA Centennial store manager Kelly Frieze in the official opening of the new store.

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Sales rise for Stanley Black & Decker

BY HBSDEALER Staff

Tool manufacturer Stanley Black & Decker reported net sales of $2.62 billion for its second quarter, an increase from $2.37 billion in the same period a year ago.

Net income for the New Britain, Conn., company was $197.3 million, up from $45.8 million in the second period last year. 

In the construction and do-it-yourself (CDIY) segment, double-digit unit volume growth in Latin America and Asia and sales growth of professional power tools and accessories, along with the success of new product launches, offset products sales declines in the United States and weak market conditions in Europe. Security sales increased 9% versus the prior year.

"We remain encouraged by the revenue and profit growth we are seeing in the emerging markets, particularly Latin America and Asia," company CEO John Lundgren said in a prepared statement. 

Within the Professional Power Tools & Accessories business, the continued success of the 12V lithium-ion cordless line as well as the new 18V lithium-ion products that were launched in Europe in May drove revenue growth, according to the company. Weather-related weakness in outdoor products more than offset high single-digit organic growth within the Consumer Power Tool business during the quarter. Sales for the Pfister business fell 21% due to the ongoing impact of the first-quarter 2011 loss of SKUs at a major customer.

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Lowe’s to pay $90,000 OSHA fine

BY Brae Canlen

Lowe’s has agreed to pay the federal government $90,000 as part of a settlement with the Occupational Safety and Health Administration (OSHA) in the Cincinnati region, according to an article in the Dayton Daily News

OSHA inspectors accused Lowe’s of “continually failing" to document and report employee injuries and illnesses in two stores: one located in Huber Heights and the other in the Cincinnati suburb of Colerain Township. But the agreement with OSHA covers 24 southern and southwest Ohio stores, where Lowe’s has agreed to review three years of medical records for work-related injury claims.

As part of the settlement, the North Carolina retailer has not admitted any violations of the federal workplace safety law.

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