HARDWARE STORES

Sears Hometown dips in Q1

BY HBSDEALER Staff

Sears Hometown and Outlet Stores net sales dipped 1.9% to $589.9 million for the 13-week period ended May 3.

Net income also failed to impress, dropping from approximately $15.0 million in 2013 to $3.68 million in 2014.

Like many others this quarter, president and CEO Bruce Johnson attributed the weak performance to the weather, as well as insufficient stock of high-margin appliances and a competitive retail market that was aggressively promotional.

"While these three items significantly affected the first quarter, we expect their balance-of-year impact to diminish," said Johnson. "In particular, we do not expect that weather will play a major role during the remainder of the fiscal year with respect to seasonal lawn and garden as this product category shrinks as a percentage of our total sales after June, and we saw more moderate weather in May."

Johnson added that the company’s sourcing initiatives are well underway, and the addition of more high-margin merchandise is likely to help boost sales.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?
HARDWARE STORES

CNRG goes West with Parkrose Hardware

BY HBSDEALER Staff

The Central Network Retail Group, or CNRG, has acquired Parkrose Hardware. In doing so, the collection of hardware store and lumberyard retail brands expands West for the first time, with locations in Portland, Oregon, and Vancouver, Washington.

CRNG’s footprint expands to 45 locations, including the Parkrose acquisition.

"Parkrose is our first step out West and will serve as a foundation for our growth in the Pacific Northwest," said Jimmy R. Smith, chairman of CNRG.

Parkrose operates a traditional full-assortment hardware store, plus a strong fastener department and rental department, according to CNRG. It also runs a thriving commercial and industrial division.

Bryan Ableidinger, Parkrose’s co-owner, was honored by the North American Retail Hardware Association in 2009 as an industry "Top Gun", the same year that Smith was similarly honored. He will continue to work with Parkrose and serve as a consultant to CNRG on other initiatives. 

CNRG President Boyden Moore said: "We are excited about the addition of Parkrose Hardware’s award-winning brand and team to our company."

CNRG operates in nine states with ten different brands. 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?
HARDWARE STORES

HCN 2013 Hardware Store ALL-STARS

BY HBSDEALER Staff

Bart and Diana Tyler, proprieters of Kelloggs & Lawrence in Katonah, N.Y., and DeWayne Tripp, owner of Hinton (Okla.) Hardware joined an elite crowd in 2013: HCN Hardware Store All-Stars. Their stores made the list, along with 48 other worthy retailers, one from each state.

Now in its third year, the HCN All-Star project recognizes hardware stores that are outstanding in their field. They don’t have to be the biggest, or even the most profitable. But they must display an All-Star sense for customer service and business acumen. 

To those who nominated stores, the editors thank you. To those who made the list, congratulations. And to those who believe they deserve to be recognized as All-Stars, tell us about it — and we’ll see you next year.

 Alabama: Dixie Pro Hardware, Montgomery, Ala. 

 Alaska: Anchorage True Value Hardware, Anchorage

 Arizona: Havasu Do it Best Hardware, Lake Havasu City

 Arkansas: Hilltop Ace Hardware, Little Rock

 California: Pete’s Ace Hardware, Castro Valley

✭ Colorado: Joseph’s Do it Best Hardware, Fort Collins

 Connecticut: Hemlock Hardware, Fairfield

 Delaware: Fairfax Hardware, Wilmington

 Florida: Halls Ace Hardware & Lumber, Milton

 Georgia: Intown Ace Hardware, Decatur

 Hawaii: Lahaina Ace Hardware, Lahaina

 Idaho: D&B Supply, multiple locations

 Idaho: Selkirk Ace Hardware, Oldtown

 Illinois: Tonnies Hardware and Rental, Albers

 Iowa: Marcus Lumber Company, Marcus

 Kansas: Newton’s True Value Hardware, Independence

 Kentucky: Congleton Brothers Pro Home Center, Beattyville

 Louisiana: Budget Build Home Center True Value, Ferriday

 Maine: Ames True Value Hardware & Supply, Wiscasset

 Maryland: Dunkirk Do it Best Hardware & Home Center, Dunkirk

 Massachusetts: Baskin’s True Value, South Yarmouth

 Michigan: ACO Hardware, multiple locations

 Minnesota: Frattalones Ace Hardware, Minneapolis

 Mississippi: Complete Home Center, Hernando

 Missouri: Oak Hill Hardware & Paint Company, St. Louis

 Montana: Montana Ace-Trempers, Missoula

 Nebraska: C&L Hardware, Ashland

 Nevada: Home Hardware and Variety, Boulder City

 New Hampshire: Goffstown Ace Hardware, Goffstown

 New Jersey: McGrath’s Paint and Hardware, multiple locations

 New Mexico: Harts Home Center, Moriarty

 New York: Kelloggs & Lawrence Do it Best, Katonah

 North Carolina: Zoller Hardware, Cashiers

 North Dakota: Stockmen’s Supply, West Fargo

 Ohio: Applegate Pro Hardware, Georgetown

 Oklahoma: Hinton True Value Hardware, Hinton

 Oregon: Parkrose Hardware, Portland

 Pennsylvania: Bomberger’s Store, Lititz

 Rhode Island: Wyoming Do it Best Hardware, Wyoming

 South Carolina: Tri-County Ace, Seneca

 South Dakota: Runnings, multiple locations

 Tennessee: Ace Hardware of Chattanooga

 Texas: Guadalupe Lumber Co., San Antonio

 Utah: Sol Foods, Hardware and Camping, Springdale

 Vermont: J&H Hardware Do it Best, Bellows Falls

 Virginia: Randy’s Do it Best Hardware (multiple locations)

 Washington: Island Do it Best Home Center and Lumber, Vashon

 West Virginia: Boltz Hardware, Garden Center & General Store, Martinsburg

 Wisconsin: Watson Ace Hardware, Lake Mills

 Wyoming: Murdoch’s Ranch and Home Supply, multiple locations

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

POLLS

How concerned are you that a trade war could hurt your business?