Lowe’s reported third-quarter net earnings of $499 million, up 26 percent from the same period last year but below the $503.5 million estimate, and a 6.2 percent increase in same-store sales. Sales were also up 7.3 percent to $13 billion, …
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Home Depot Reports Third-Quarter Growth
Home Depot today reported sales of $19.5 billion for the third quarter, a 7.4 percent increase from the third quarter last year. Comparable-store sales for the quarter of were up 7.4 percent and comp sales for U.S. stores were up …
Read More »Rona Revenues Down in Third Quarter
Canadian home improvement retailer Rona Inc. reported a decline in same-store sales for the third quarter due “relatively unfavorable market conditions during the quarter,” according to the company. The retailer reported revenues from continuing operations of about $1.17 billion in the …
Read More »Home Depot Issues Apology for ‘Stupid, Offensive’ Tweet
Home Depot has fired an outside agency that created what it called a “stupid and offensive” ESPN College GameDay photo tweet that featured two African-Americans and an individual dressed as a monkey, with two beating drums, according to the Atlanta …
Read More »Home Depot’s Redbeacon Expands to 6 More States
Home Depot is accelerating the national rollout of its online referral service Redbeacon to tap demand from homeowners who don’t want to do fix-it projects themselves, Bloomberg reported last week. Redbeacon, which connects consumers with painters, plumbers, carpenters and maids, …
Read More »Home Depot Cutting Health Insurance Coverage for 20,000 Employees
Home Depot plans to end medical coverage for about 20,000 part-time employees and direct them to government-sponsored exchanges scheduled to open next month, Bloomberg reported Thursday. Employees with fewer than 30 hours a week will no longer be offered limited …
Read More »Home Depot CEO Discusses Housing Market, Industry on CNBC
Home Depot CEO Frank Blake recently sat down for an interview with CNBC while he was in New York to promote Home Depot Foundation’s Celebration of Service campaign that runs from Sept. 11 through Veterans Day. In the interview he …
Read More »Lowe’s Completes Orchard Supply Acquisition
Lowe’s completed its previously announced acquisition of the majority of assets of Orchard Supply Hardware, including 72 Orchard stores, for approximately $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. The acquisition expands …
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