Orchard Supply sees sales momentum
San Jose, Calif.-based Orchard Supply Hardware said it anticipates comp-store sales for the first quarter ending May 4 to increase from 9.0% to 11.0%.
The forecast comes as Orchard entered Oregon with the grand opening events for its Portland and Tigard stores being held April 27. The company also recently opened its new neighborhood format store in Yorba Linda, Calif., and plans to hold the grand opening event for this location on May 4, 2013.
With the new stores, Orchard’s total number of neighborhood format stores rose to 16. The company’s total store count is 89.
“Orchard continues to make solid progress in our efforts to strengthen our capital structure and improve our operating performance,” said Mark Baker, president and CEO of Orchard. “Our supplier partners have done a great job helping to keep our inventories at appropriate levels even while we have been outperforming our sales plan through the start of the spring season. Thanks to the hard work of the entire Orchard team and the strong ongoing relationships we have with our supplier partners and our lenders, we continue to provide our loyal customers with the in-stock product offerings and high level of service to which they are accustomed.”
The retailer also said a previous May 1, 2013, date to reach an agreement with respect to a transaction to deleverage, modify or otherwise address the company’s capital structure has been extended to June 30, 2013.
Rocky’s Ace CEO credits associates
In an interview on CBS 3 in Massachusetts, Rocco Falcone credited employers for its Retailer of the Year award.
"We really pride ourselves in taking care of the consumer and customer service," Falcone said in his on-air interview. "Our associates really drive the business in the retail stores."
The video can be seen here.
Rocky’s Ace Hardware, a 33-store hardware retailer based in Springfield, Mass., will accept the 2013 Retailer of the Year award at the Golden Hammer ceremony during the National Hardware Show in Las Vegas.
Retailer rebrands as Hassett Ace Hardware
A four-location California hardware store retailer plans to change its name, according to a report in the San Mateo Patch newspaper.
The company is making the switch to better reflect the third-generation retailer’s family history.
The co-owners Eric and Richard Hassett told the newspaper that the time is right to honor the family history by using the Hassett name.