Lowe’s to sell Craftsman tools
Craftsman, the tool brand that for generations has been associated with Sears, will hit the shelves of Lowe’s in the second half of 2018.
The roll out of Craftsfman with Lowe's in the home center channel was announced Tuesday morning during the Stanley Black and Decker third quarter earnings call. "We have been more than impressed with the level of commitment and support afforded by Lowe's for the Craftsman brand," said Jeff Ansell, executive VP and president, global tools & storage for Stanley. "We continue working with other channel partners to continue to provide them with successful programs to facilitate their growth as well."
Sears sold its Craftsman brand to Stanley Black and Decker in a deal that closed in March. At the time, Stanley was clear about its intention to expand the brand to new outlets. “We will invest in the brand with a focus on quality, innovation and U.S. manufacturing, with the goal of rapidly increasing sales through new channels,” he added.
Previously, Craftsman had been sold at Sears and Kmart stores, Orchard Supply Hardware stores (through its previous ownership connection to Sears) and through Ace Hardware stores, through an exclusive deal for the convenience hardware industry.
Lowe's appears eager to begin the relationship.
“As Craftsman looks to expand, the Lowe’s customer is a perfect match – whether they’re looking for high-quality, durable everyday tools or advanced tech-forward products, Craftsman offerings are sure to fulfill their home improvement needs,” said a public relations company representative of Lowe's in an e-mail to HBSDealer.
Market Recap: RISI Crow’s Construction Materials Cost Index
A price index of lumber and panels used in actual construction for Oct. 20, 2017.
Western: regional species perimeter foundation
Southern: regional species slab construction
Crow's Market Recap: A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow's Weekly Market Report.
SPF #2&Btr prices continued to grind higher in most instances. Mills kept order files at a distance, now selling as far out as the week of November 20. Volumes available for prompt shipment sold readily. Truck availability for loads into the states was tight. Mills reported constricting railcar supplies. Several western producers continued to report low log decks.
- Southern Pine discounts grew more prevalent and deeper as buyers shied away from purchases whenever possible. Eroding mill order files generated somewhat greater urgency among producers to get out ahead of weaker prices.
- Dry pricing in Coastal species continued to grind higher in a few dimensions, but the amount of increases eased. In green Doug Fir, price direction was narrowly mixed. Buyers appeared more reluctant to participate, but did tend to purchase at their rate of sales.
- Today’s reality in Inland lumber is an imbalance between supply and demand, with that imbalance favoring producers. Demand remains quite good although more moderate than in several weeks prior.
- Stud prices were mixed, with a number of them managing to hold at levels established the week prior. SPF mills probed the market for 2×4 sales, especially in 8’ lengths, willing to come off their levels. As in past weeks, 2×6 9’ availability remained tight and pricing the strongest across the market.
- With much of the lumber side of the industrial market caught in a static situation with regard to Radiata Pine and Ponderosa Pine, changes related to moulding and millwork are relegated to imported mouldings. Recent activity in Ponderosa Pine boards shows some upward movement in demand and selected prices. Although Selects remain very stable at current levels, Commons are improving.
- Orders of Western Red Cedar consisted of a mix of immediate needs and purchases extending as far out as the first quarter of next year. PTS was used by producers to secure orders for early 2018.
Cracks formed this week in OSB markets across most of North America as construction approaches its seasonal slowdown and buyers put up harder resistance to price levels. Two-tiered markets were widely reported, especially in the U.S. South.
- Most Southern Pine rated sheathing prices held and in a few instances even moved a couple of dollars higher. The west side bucked that trend, as prices in that zone weakened, with some trading of 15/32” and thicker carloads taking place at significantly lower price levels. Many mills reported order files moving into the weeks of October 30 and November 6.
- Limited desire among buyers to purchase Western Fir plywood at high and softening price levels contributed to a slower sales pace. Mills order files eroded further, contributing to greater volumes available for prompt shipment.
- Canadian plywood markets are still hand-to-mouth, exacerbated by a sharp drop in prices and a search among players for stabilization.
- Particleboard sales varied by mill. A few producers reported adding some production to cover a recent yet sporadic increase in sales. Other producers reported a steady sales pace. Mills worked to maintain order files that have eroded somewhat this fall.
- Buyers had little problem finding MDF, especially in the South. Imports remained plentiful.
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Here’s Stanley’s new board member
Stanley Black & Decker has elected Jim Scholefield, 55, VP and global CIO of Nike, to the company's board of directors. Scholefield brings the company's total number of directors to 11, including 10 independent directors.
"Stanley Black & Decker is focused on accelerating its innovation efforts to enhance its track record of delivering top-quartile financial performance while operating in a highly sustainable manner," said George W. Buckley, Stanley Black & Decker's chairman of the board. "Jim's expertise in this digitization and technology space spans both consumer products and automotive industries, as well as organizations with strong brands. He will be of tremendous value to the company, and we couldn't be more pleased to have Jim as part of our board."
At Nike, Scholefield leads the company's enterprise technology strategy, delivering innovative solutions to support the company's business growth, the company said.
Prior to joining Nike in 2015, Scholefield was chief technology officer at The Coca-Cola Company, responsible for the organization's IT strategy, tech operations and technology engineering. He also held IT leadership roles at Northern Trust, Ford Motor Company and Procter & Gamble. Scholefield earned a Bachelor's from Florida State University and a Master's from the Georgia Institute of Technology.
"Technology continues to move at a rapid pace, causing massive disruption across businesses and industries," said Scholefield. "Stanley Black & Decker is a company that recognizes that change is coming and is committed to keeping the pace with innovation and business model evolutions to stay ahead of the curve. It's an organization with strong brands, a rich history and an exciting future. I look forward to being part of the Board."