Kitchens and gardens shine at Home Depot
Atlanta-based Home Depot’s fourth quarter saw positive comp-store sales for the fifth straight period. Kitchens and gardens were among the highest-performing categories.
According to Home Depot’s Craig Menear, executive VP merchandising, the departments that outperformed the company average were kitchens, outdoor garden, indoor garden, electrical and tools.
Comparable-store sales for the company increased 3.9% for the three months ended Jan. 30. For stores in the United States, comp sales were positive 4.8%.
During the company’s fourth-quarter earnings call, Menear also said heavy snow and ice in January led to double-digit positive comps in power snow removal equipment, chemicals and snow tool categories.
Weyerhaeuser, Home Depot make Fortune Magazine list
Weyerhaeuser ranked as the “Most Admired Company” in the Forest and Paper Products category of Fortune Magazine’s annual rankings of large U.S. companies, published online on March 7. International Paper came in second.
Listed as “contenders” were Domtar, Boise, Universal Forest Products and AbitibiBowater.
Home improvement retailers came under the rubric of “Specialty Retailer: Diversified,” where Costco took the top spot. Home Depot was the second “Most Admired Company.” Lowe’s came in fourth.
Fortune’s “Most Admired Companies” list is compiled from a database of roughly 1,400 of the nation’s largest companies (by revenue). Fortune then uses The Hay Group to survey approximately 15,000 senior executives, outside directors and other major non-U.S. companies and financial analysts. Companies are rated on innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment and quality of products/services.
Solar power supplier boosts board
Solar power systems provider EchoFirst, formerly known as PVT Solar, appointed Surinder Brar to its advisory board. Brar is the chief strategist of the worldwide partner organization at Cisco Systems.
EchoFirst CEO Vikas Desai called the appointment a boost for the Fremont, Calif.-based supplier. Brar’s "proven Silicon Valley experience and the industry perspectives he brings to building great companies, as well as his deep understanding of technology adoption, will prove invaluable to EchoFirst."
EchoFirst is the creator of Echo, a high-performance solar energy system. Echo generates not only electricity, but also hot water for washing and bathing.