J.C. Penney announced Monday that its executive vice president and chief financial officer, Edward Record, would vacate his position effective July 11 “to pursue other interests,” according to the company. Record joined the apparel and home goods retailer in March …
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Fred Whyte, Former President of STIHL Inc., Dies at 70
Fred Whyte, power tool icon and former president of STIHL Inc., died on July 7 surrounded by family and friends at his Virginia Beach, Virginia, home. The “Man of STIHL” was 70 years old. Originally from Vancouver, British Columbia, Whyte began …
Read More »True Value Responds to Bloomberg Report Regarding Possible Sale
According to a Bloomberg report Monday, True Value Co. is “considering a sale that could value the home-improvement store chain at about $800 million.” People who asked not to be identified as they weren’t authorized to speak publicly say the company …
Read More »Lumber Liquidators Founder Buys Luxury Hardware Store
Two years after a former Walmart executive and her business partner acquired luxury hardware store chain Gracious Home, a discount chain’s founder has bought the business out of bankruptcy. Tom Sullivan, who started flooring discounter Lumber Liquidators, bought New York’s Gracious Home retail operation for …
Read More »The E-Commerce Threat: Is It Exaggerated?
Is e-commerce a threat that will truly result in the demise of traditional brick-and-mortar stores? Not according to a recent article from Forbes, which highlights five main factors that show why traditional retail spaces are still significant to consumers and are vital …
Read More »House-Hasson Market Brings in New Vendors, Younger Faces
The House-Hasson Hardware Summer Dealer Market in June drew new vendors and younger retailers. Vendor participation at the regional distributor’s buying show, which took place June 15-17 in Sevierville, Tennessee, was up about 15 percent year over year, House-Hasson officials say. An …
Read More »More Than 2,000 Exhibitors Expected at International Garden Fair
The international garden fair spoga+gafa is slated to feature more than 2,000 exhibitors from 59 countries this year. The annual event, which is scheduled for Sept. 3-5, will again be located in Cologne, Germany, and will serve as a showcase for outdoor living and …
Read More »Home Depot Buys Power Equipment Company for $265M
The Home Depot has announced an agreement to purchase Compact Power Equipment Inc., a national provider of equipment rental and maintenance services, for $265 million in cash. The transaction, which Home Depot confirmed July 6, is expected to close by the …
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