News

Sears eliminates 100 HQ jobs

BY HBSDEALER Staff

Sears Holdings has announced it will eliminate 100 jobs at its headquarters, a move sparked by lagging sales combined with a corporate restructuring plan at the parent of Sears and Kmart stores.

According to the Chicago Tribune, jobs affected by cuts came from several different departments, including operations, logistics and store support.

The Hoffman Estates, Ill.-based company has been struggling of late, with fourth-quarter earnings down 47.5 percent year-over-year and sales down 6.8 percent. To spur sales, the company launched a new ad campaign last month called “ReImagine You,” which is slated to run through May.

In February, the company cut 200 jobs, and some key home channel executives departed the company, including Tina Settecase, vp-Kenmore appliances, and Greg Inwood, vp-Craftsman tools, hardware and paint.

In March, the company appointed some new key executives, including Douglas Moore to the position of senior vp and president-appliances and John Froman as head of the retailer’s tools and lawn and garden divisions.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

Commerce Department: sales fell for building materials, furnishings

BY HBSDEALER Staff

Retail sales in March rose 0.2 percent month-over-month, buoyed by strong sales at gas stations. But building materials and other related markets saw a drop in sales last month.

According to the Commerce Department report, sales of building materials fell 1.6 percent, and sales of home furnishings fell 0.3 percent. General retail stores, like Wal-Mart and Target, saw a combined 0.6 decline in March.

But year-over-year, overall retail sales increased 2 percent, again buoyed by higher gas prices. Building materials and home furnishings took the biggest hit when compared with last year, falling 6.9 percent and 7.1 percent respectively.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?
News

Housing starts fall from February

BY HBSDEALER Staff

According to the U.S. Census Bureau and Department of Housing and Urban Development, housing starts for the month of March fell 11.9 percent to 947,000 from a revised February estimate of 1.075 million units. That figure is 36.5 percent below the 1.491 million housing starts recorded in the same period last year.

Single-family housing starts in March were at a rate of 680,000. This is 5.7 percent below the February figure of 721,000.

Issuance of building permits fell 5.8 percent in March to a rate of 927,000. Year-over-year, the rate of building permit authorizations fell 40.9 percent.

Still, builder confidence remained unchanged this month, according to the National Association of Home Builders. The trade group reported a builders confidence index at 20, the same as in March.

“With the traditional home buying season now well underway, we have not seen the bump in sales activity that we normally would this time of year,” said Sandy Dunn, NAHB president. “At this point, all eyes are on Congress and its efforts to craft meaningful legislation to help support the housing market and stabilize our nation’s economy before it heads deeper into recession.”

The index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as either “good,” “fair” or “poor.” Any number under 50 indicates that more builders view sales conditions as poor than good.

Regionally, the index’s results were mixed in April, with a one-point gain to 22 registered in the Northeast, a one-point decline to 15 registered in the Midwest, a two-point decline to 24 posted for the South and a two-point gain to 17 posted for the West.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How much credit should be given to the co-op business model for the success of the independent hardware and building supply dealer over the last half century?