Stock Building Supply Holdings Inc. filed an initial public offering (IPO), with the goal of raising up to $175 million, according to Reuters. Stock Building Supply, which is based in North Carolina and operates in 13 states, is backed by …
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Group Merchandising Conference Highlights Continued Industry Optimism
Michael Parr, Cascade Wholesale Hardware, left, meets with Mark Marotto, Perfect Vision, at the 2013 GMC in Atlanta. Distributors affiliated with PRO Group, Inc. and Val-Test met with manufacturers during the Group Merchandising Conference, held June 17-19 at the Embassy …
Read More »Housing Starts Up 6.8 Percent in May
Nationwide housing starts rose 6.8 percent to a seasonally adjusted annual rate of 914,000 units in May due primarily to increased production of multi-family homes, according to released data from the U.S. Department of Housing and Urban Development and the …
Read More »Orchard Supply Files for Chapter 11 Bankruptcy; Lowe’s Agrees to Buy Assets
Lowe’s has agreed to buy Orchard Supply Hardware for approximately $205 million on the same day Orchard Supply filed a petition for Chapter 11 bankruptcy. The purchase agreement would enable Lowe’s to expand through a new store format and reach …
Read More »Growing Consumer Confidence, Spending Accelerate May Retail Sales
May retail sales (excluding automobiles, gas stations and restaurants) increased 0.6 percent seasonally adjusted from April and increased a strong 4.8 percent unadjusted year-over-year, according to data released by the U.S. Department of Commerce. The National Retail Federation attributes the …
Read More »Sources Say Orchard Supply Considering Bankruptcy Filing
Orchard Supply Hardware Stores Corp., the chain spun off by Eddie Lampert’s Sears Holdings Corp. 17 months ago, is considering a bankruptcy filing as soon as next week, according to a Bloomberg News story. Orchard Supply, based in San Jose, California, said …
Read More »Housing Recovery Drives Home Depot’s Increased Sales in First Quarter
Home Depot reported sales of $19.1 billion for the first quarter of fiscal 2013, a 7.4 percent increase from the first quarter of fiscal 2012, brought about largely due to the recovering housing market and despite a colder than average spring. On …
Read More »True Value Reports a Decrease in Gross Billings
True Value reported gross billings of $444.3 million for the quarter ending March 30, down 0.9 percent for the same period a year ago, due to a nearly non-existent spring and a decline in lumber and building material vendor direct …
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