Home Centers

Three Russian nationals suspected in a series of burglaries at Home Depot were arrested by the California Highway Patrol on April 13, according to an article in the Chico Enterprise Record.

A "stabilized business" has paved the way for an accelerated stock buy-back program at Atlanta-based The Home Depot. 

The home improvement giant announced the pricing of a $2 billion senior note issuance to refinance $1 billion of senior notes that came due in March 2011 and to repurchase $1 billion of outstanding shares through an accelerated share repurchase program with Barclays Capital. 

As Menards prepares to open its first store in Columbus, Ohio, the number-three U.S. home center chain made a deal to acquire more land for a second Columbus store, according to the Columbus Dispatch.

The company's first Columbus store is expected to open in the spring. That's about the same time that work is expected to begin on the second store, on the city's east side. That second store will probably open in spring 2012.

Mooresville, N.C.-based Lowe's will open an 117,000-sq.-ft. store in Iwilei, Hawaii, on the island of Oahu Thursday, according to a report in the Honolulu Star Advertiser. 

Fourth-quarter earnings at Lowe's increased 39.0% to $285 million, as sales increased for the quarter and the year. 

The earnings exceeded previous guidance, as the company increased comp-store sales and gross margins.

The Mooresville, N.C.-based home improvement giant reported fourth quarter sales of $10.5 billion, up 2.9% from the prior-year quarter. For the full year ended Jan. 28, sales increased 3.4% to $48.8 billion.

Comparable store sales were up 1.1% in the quarter, and up 1.3% for the full year. 

Lowe's opened a 94,000 square foot store at the Covina (Calif.) Town Square, according to the sgvtribune.com.

The company broke ground on the location about six months ago. The store, which will celebrate an official board cutting at its grand opening Thursday, replaces a Home Depot store that moved down the street. 

In the 1980s, when Lowe’s decided to change from a chain of southeastern contractor yards to a nationwide big-box retailer, the company knew it wouldn’t happen overnight. But a steady vision, stable leadership and good relations with Wall Street made the goal a reality. Today, the North Carolina-based company has more than 1,725 warehouse-sized stores in all 50 states plus Canada and Mexico. 

Now it’s time for another change. 


The Hillman Group has announced the acquisition of TagWorks, a pet ID tag program, for $40 million in cash plus an additional consideration of $12.5 million on Oct. 31, 2011. TagWorks is responsible for paying $18.5 million in outstanding debt and transaction fees from the proceeds. The deal closed on March 16.