Fourth-quarter earnings increased for Lowe’s, following the company’s announcement of additional layoffs at its corporate headquarters and two support facilities. On March 1, the big-box retailer reported net earnings of $663 million, up by $11 million during the fourth quarter of 2015. Sales for the fourth quarter increased to …
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Lumber Liquidators: Sales Down, Losses Up in 2016
Lumber Liquidators this month reported a boost in net sales during the fourth quarter of 2016, but the full year’s financial performance reflected woes that began in 2015. In 2015, investigations into the chemical contents of the flooring discounter’s Chinese-made laminate started major …
Read More »Year-End Financials Look Good for Ace, Home Depot
The Home Depot and Ace Hardware Corp. released their fourth-quarter and year-end earnings reports this week, showing positive results for both. Ace Hardware Corp. reported financial growth in its fourth quarter and for fiscal 2016, which the co-op’s top executive called a “challenging year.” Read …
Read More »Ace Hardware Reports Solid Growth, Despite ‘Challenging Year’
Ace Hardware Corp. reported financial growth in its fourth quarter and for fiscal 2016, which the co-op’s top executive called a “challenging year.” The cooperative saw fourth-quarter 2016 revenues of $1.2 billion, an increase of 5.8 percent from the fourth quarter of 2015. …
Read More »Home Depot Reports Continued Growth in 2016
While retailers in other sectors have been struggling, The Home Depot’s fourth quarter 2016 financial results marked overall growth for the company, according to a press release by the Home Depot. The big-box retailer reported 5.8 percent growth over the …
Read More »Sears Planning $1B in Cost Cuts
Sears Holdings is restructuring to reduce its costs by $1 billion in 2017, the company announced Feb. 10. The retailer has seen steadily declining sales at its Kmart and Sears stores, and has been looking for ways to get profitable again. Earlier this year, …
Read More »The National Hardware Show® Wants to Know What You Would Do With $100K
The National Hardware Show® will be awarding one lucky retailer $100,000 to invest in the future of their business through its Reimagine Retail Program. The program is open to all independently owned home improvement/hardware retailers. Retailers will be able to enter …
Read More »Lowe’s Staff Cuts ‘Causing Angst and Uncertainty’
Lowe’s confirmed in January that it would be eliminating 2,400 management jobs, and those staff cuts are unsettling to employees companywide, according to The Charlotte Observer. “The layoffs announced this month are causing angst and uncertainty at the company’s headquarters … as well as …
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