HARDWARE STORES

New cash mob destination: Crowder Bros. Ace Hardware

BY HBSDealer Staff

A cab mob has hit another hardware store — this time Crowder Bros. Ace Hardware in Lakeland, Fla., according to an article in The Ledger. The hardware store had been hurting from the weak economy. 

About 300 people descended on the store between 3 p.m. and 5 p.m. Store manager Scott Yarbrough said the store doubled what it normally sells on a Saturday.

The organizer, Chrissanne Long, said the event has created an online community of local business owners and supportive people, according to the article.

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In North Carolina, the end of the road for a diversified store

BY HBSDEALER Staff

According to an article in the Shelby (N.C.) Star, G.T. McSwain Hardware is going out of business.

After 65 years in Boiling Springs, the hardware, furniture and appliances retailer is expected to close by the end of August. The newspaper cited poor sales as a major contributor to the closing.

The True Value dealer is owned by Neal McSwain and Betty McSwain, representing the third generation of McSwains in the family business.

 

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True Value appoints outside director

BY Ken Clark

True Value has appointed Kathleen Guion to its board of directors as an outside member effective August 2012. With more than 13 years of C-level experience, Guion has played pivotal roles in corporate turnarounds, leveraged buyouts and an initial public offering. Her experience takes in the implementation of new technologies in retail real estate development and operations.

Most recently, Guion retired from Dollar General Corp., where she served as president for store operations and company growth, and played a leading role in the company’s sales growth from $6.8 billion in 2003 to more than $13 billion in 2010. Before joining Dollar General, Guion helped guide a Chapter 11 reorganization of Duke and Long Distribution without debtor-in-possession financing. And as an operating partner at the New York investment firm Devon Partners, she identified acquisition targets and developed detailed operational improvement plans that would provide returns to investors in excess of 40%.

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