News

Tractor Supply promotes a CFO

BY HBSDealer Staff

Tractor Supply Company has promoted Kurt Barton to senior VP, CFO and treasurer as part of a transition plan announced last July.

Barton was promoted to senior VP and controller earlier this year. Now, he will succeed Anthony Crudele, who retired after serving as CFO for the past 11 years. Crudele has worked closely with Barton over the last seven months to ensure a smooth transition.

Barton first joined Tractor Supply in 1999 and had served as the company's VP, controller since 2009. He also served as director, Internal Audit from 2002 to 2009 and held responsibility for the company's accounting, financial reporting, tax, purchasing, master data management, accounts payable and inventory control functions.

To take his place, Bob Volke has been promoted to the position of VP, controller, effective immediately. Volke joined Tractor Supply in April 2007 and has served as the VP accounting since February 2014. Volke's expanded responsibilities include the company's general accounting and financial reporting, as well as operations accounting and non-merchandise purchasing functions.

"On behalf of Tractor Supply, I would like to thank Tony for his many contributions to the company over the last 11 years," said CEO Greg Sandfort. "We wish Tony the very best in his retirement and are excited to have Kurt Barton take the helm as Tony's planned successor. Kurt has been with Tractor Supply for 18 years and is a talented financial leader with a deep understanding of the business and track record of success. I congratulate Kurt on his promotion and look forward to continuing our work together."

"I would also like to congratulate Bob on his well-deserved promotion to Vice President, Controller," said Sandfort. "Bob has worked alongside Kurt for several years and has been an important part of our finance team, with a passion for our business and dedication to our continued growth. I am both confident and excited about the team we have in place to continue to move our business forward."

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Lowe’s by the numbers

BY HBSDealer Staff

Mooresville, N.C.-based Lowe’s delivered strong results for its fourth quarter and full year ended Jan. 31.

During the earnings call with investors, executives pointed to improvements in a variety of areas — the omnichannel experience, serving the pro customer and the integration of its investment in RONA in Canada.

Executives backed up their story with statistics. Here are some of them:
 

  • Comparable store sales growth in Q4: 5.1%
  • Comparable increase in average ticket in Q4: 4%
  • Increase in comparable transactions in Q4: 1.1%
  • Q4 average ticket: $69.58
  • Increase in number of transactions above $500 in Q4: 9%
     
  • Number of regions, out of 14, that achieved positive comps in Q4: 14
  • Number of categories, out of 13, that achieved positive comps in Q4: 12
  • Sales growth of Lowes.com in Q4: 25%
  • Number of quarters since Lowes.com website redesign: 2
     
  • Full year 2016 sales: $65 billion
  • Full-year comp-store sales growth: 4.2%
  • Rank of Black Friday sales, both in-store and online, among all previous Black Fridays: 1
     
  • Q4 comp-store sales growth in pneumatics: 15%
  • Rank of Bostitch and Hitachi among pneumatic tool brands, according to Lowe’s: 1 or 2
     
  • Number of stores Lowe’s plans to open in 2017: 35
  • Of those, the number of domestic big box Lowe’s stores: 9
  • Number of Orchard Supply Hardware stores: 14
     
  • Number of years Bob Hull worked at Lowe’s, before his retirement: 17
  • Years as CFO: 14

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HBSDealer Stock Watch: More leveling off

BY HBSDEALER Staff

Stocks mostly trended down again on Friday following Wednesday's peak performance.

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