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USCPSC issues generator recall

BY HBSDealer Staff

Portable generators distributed by American Honda Motor Co., of Torrance, Calif., are the subject of a U.S. Consumer Product Safety Commission (CPSC) recall.

While no fires or injuries have been reported, the generator’s fuel hose can leak, posing fire and burn hazards, according to the CPSC.

The generators were sold at Honda Power Equipment dealers, Camping World, Gander Mountain, Grainger, Hertz Rental, John Deere, National Pump & Compressor, Northern Tool, Scheels Sporting, Sportsman’s Warehouse, Sunbelt Rentals, True Value, United Rentals, White Cap and Wholesale Sports store nationwide and online from October 2011 through September 2012.

The Honda gasoline-powered portable generators are black and red in color or have a camouflage design. "Honda," `’EU converter" and the model number 2000i are printed on the side of the generator, according to the CPSC. "Companion" is printed on the side of some EU2000i models.

About 150,600 of the generators were sold.

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Lowe’s net income surges 76% in Q3

BY HBSDealer Staff

Mooresville, N.C.-based Lowe’s reported third-quarter net income of $396 million, up 76% from earnings of $225 million a year ago. Revenues increased 2% to $12.07 billion, ahead of consensus estimates of $11.93 billion.

We are keenly focused on improving our core business, commented Robert A. Niblock, Lowes chairman, president and CEO. Our level of execution is improving and we delivered solid results in the third quarter."

Same-store sales increased 1.8% for both U.S. stores and all stores.

For the full year, the company said total sales are expected to be about flat, but 2011 had an extra week in the calendar. On a 52-to-52 week basis, total sales are expected to increase approximately 2%.

The company expects comparable store sales to increase approximately 1% (on a 52 versus 52 week basis).

Lowe’s has 1,750 stores in North America. The retailer said its expects to open approximately 10 stores in fiscal year 2012.

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HD board member resigns

BY HBSDealer Staff

Ronald Sargent has resigned from the Home Depot board of directors, effective immediately, according to a filing with the U.S. Securities and Exchange Commission (SEC). Sargent did not cite any disagreement on any matter relating to the company’s operations, policies or practices, according to the SEC statement. 

Sargent joined the Home Depot board in 2011, after having served as CEO of Staples since 2002. He also held executive positions at Kroger Co., where he currently serves as a director. Other public companies where Sargent has served as a director since 2006 include Mattel, The Yankee Candle Co., and Aramark Corp.  

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