Sears Holdings taps Meijer exec for operations job
Sears Holdings has announced that Kevin Holt, 49, will take on the role of executive vp-store operations.
The store operations group is one of five new “umbrella” units the company is creating as part of a reorganization process — the others are brands, real estate, support and online.
Holt most recently served as executive vp-retail operations at multichannel big-box retailer Meijer, where he worked for 13 years. He has been with Sears since September 2007 as senior vp and chief effectiveness officer.
Most recently, Hoffman Estates, Ill.-based Sears Holdings reported net income and sales down for the fourth quarter and year ended Feb. 1.
For the quarter, the company reported net income of $426 million, down 47.5 percent from $811 million in the prior-year quarter. Net sales were $15.1 billion, down 6.8 percent from $16.1 billion from the previous year.
Wolseley makes acquisitions in U.S., abroad
Stock Building Supply, the industry’s second largest pro dealer, has purchased Precision Doors & Hardware, a company specializing in the sales, installation, service and repair of commercial and industrial doors, frames, door hardware, washroom accessories and control systems. Precision Doors & Hardware operates from five locations in the Washington, D.C., area. In 2006, the most recent year made available, the company posted revenues of $43.3 million.
Ferguson Enterprises, Stock’s sister company, has acquired assets of two companies: C.B. Group, which does business as JC Plumbing Supply in San Francisco. JC Plumbing is a distributor operating from two facilities. Revenues in 2006 were $4.4 million. The other acquisition was Mastercraft Cabinets, a cabinet distributor operating from a single facility in Naples, Fla. In 2006, Mastercraft had revenues of $5.1 million.
Since the beginning of its fiscal year on Aug. 1, 2007, U.K.-based Wolseley, the parent company of Stock and Ferguson, has spent $66.2 million to acquire a total of 15 bolt-on acquisitions in Europe and North America. These 15 acquisitions are expected to add approximately $527.6 million in revenues annually.
Death penalty sought in store manager shooting
The Orange County District Attorney’s Office has charged Jason Russell Richardson, a man accused of shooting and killing a Home Depot store manager, with one count of murder during the commission of a robbery, a special circumstances charge that carries the death penalty in California.
Richardson is being held without bail. According to the Tustin Police Department, the 37-year-old parolee has been previously convicted of rape, sexual assault on a minor, residential burglary, grand theft, possession of stolen property and narcotics charges.
The victim, assistant store manager Tom Egan, was shot and killed after he came to the assistance of a cashier being robbed at a Home Depot store in Tustin, Calif., on Feb. 9, 2007. The robber came into the store disguised in painter’s coveralls, dust mask and hard hat. Based on DNA evidence left at the scene, police arrested Richardson two weeks later.
Aformer U.S. Marine, Egan is survived by his wife and twin daughters, aged 4. He was an employee of Home Depot for 13 years.