Capital Lumber expands WOLF distribution territory
Capital Lumber Company is ratcheting up the scope of its partnership with WOLF Home Products.
The company will now distribute two lines of WOLF deckboards in Oregon, spanning the greater Portland area and central Oregon.
“We are excited about growing our partnership with WOLF as it brings us an opportunity to present the market with a new business model along with a new product line,” said Michael Darby, VP of marketing and business development. “WOLF will help our dealers differentiate themselves and give homeowners a unique choice in decking.”
WOLF, which has over 75 certified contractors in Capital's trading areas, will also provide Capital's dealers with samples, literature and other marketing support.
WOLF and Capital first teamed up last year, when Capital agreed to distribute WOLF PVC Decking and Capped Composite Decking from its Tacoma, Washington location, expanding the reach of those product lines to the West Coast for the first time.
“WOLF focuses on helping independent dealers and their contractors separate themselves from the pack,” said Craig Danielson, CEO of WOLF. “Capital is the ideal partner because they share that focus.”
Gordon’s Ace sets sights on new Chicago location
Gordon's Ace Hardware is set to open its sixth store in Chicago's Bridgeport neighborhood this summer.
Father-and-son owners Les and Jeremy Melnick, who bring a collective seven decades of hardware store experience to the table, have a local reputation for stellar customer service, wide product selection and the provision of services like home delivery and free store pickup. Aside from Gordon's Ace Hardware, they also own two other Ace stores in Fox Lake and Fox River Grove.
The Bridgeport location will offer 6,400 sq. ft. of retail space with nearly 30,000 SKUs.
It also takes the place of another Ace Hardware store (under different ownership) that recently closed in Bridgeport.
“We are thrilled to bring Ace Hardware back to the Bridgeport community,” said Jeremy Melnick, partner of the Gordon’s Ace Hardware chain. “We look forward to providing the neighborhood with the products, services and know-how they need to fix, repair and maintain their homes.”
The new store will be located in the Riverside Plaza at 3145 S. Ashland Avenue, at the intersection of 33rd Street and Ashland Avenue.
True Value points to Q1 gains
Chicago-based True Value Company reported gross billings of $494.0 million for the quarter ending April 4, up 7.4% compared to last year’s quarter.
Revenue was $353.8 million, an increase of 6.7%.
The cooperative planned for a loss in the first quarter of 2015, posting a net loss of $1.7 million, compared with net margin of $0.9 million from a year ago.
The net margin decrease was driven by planned investment expense incurred in connection with the implementation of the strategic plan and was partially offset by the sales increase.
“Our strategic plan is already driving positive change across the cooperative. Our first-quarter sales performance shows solid year-over-year improvement, reflecting our intense focus on relevant product assortments and brand building,” said president and CEO John Hartmann. “Not only did our company’s revenue increase, we saw an uptick in nearly all of our product categories.”
Wholesale comparable-store sales, on a gross billings basis, were up 6.1% in the quarter.
Retail comparable-store sales were up 5.3% in the quarter, with increases in 11 of 12 regions of the country and in all of the cooperative’s nine product categories, led by Seasonal, Farm Ranch Auto & Pet and Lawn & Garden.
During the first quarter, True Value continued to grow its square footage and retailer base.
In the three-month period, the company added 256,000 sq. ft. of relevant retail space, continuing its commitment to grow Destination True Value, the co-op said.