Hardware Retailing

DEC 2018

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

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HARDWARE RETAILING | December 2018 36 Industry Year in Review O Lowe's named Vikram Singh senior vice president and chief digital officer. The goal of the brand new chief digital officer position is to "accelerate Lowe's digital evolution and drive a holistic integrated strategy to make shopping more flexible, convenient and intuitive" in stores and online. O The Home Depot acquired bedding and bath business The Company Store, which operates five brick-and-mortar locations in Wisconsin, Maine and North Carolina, and an online store. O Target purchased delivery startup Shipt Inc. to complete same-day deliveries from about half of its stores by summer 2018. December (2017) O Westlake Ace Hardware has made plans to purchase The Dennis Co., a five-store home improvement chain based in Washington state. O House-Hasson Hardware is using mobile computers and headsets in its corporate headquarters warehouse and upgraded electronic scanners to speed up ordering and deliveries for the independent hardware stores and lumberyards the company serves. January O Home Depot announced it would sell Tesla solar panels and batteries in dedicated spaces in 800 retail locations. Tesla employees would staff the areas and demonstrate the company's solar panels and batteries, called Powerwalls. O Lowe's presence in Canada has evolved, with business acquisitions and branding changes included in the company's growth strategy. One of its newest changes is the rebranding of 17 home improvement stores in Quebec. February O PRO Group and VAL-TEST Group partnered "to leverage both groups' strengths to deliver superior value to member wholesale distributors, suppliers and the retailers they serve," PRO Group says. O Orgill Inc. announced the death of former president and chairman Joseph "Joe" Orgill III. O The True Value Co. announced a plan to sell 70 percent ownership in the organization to private investment firm ACON Investments, subject to member approval. The deal would transition the company away from the co-op model. O The Home Depot had to pay $27 million to settle claims that it improperly disposed of hazardous waste in California. March O Westlake Ace Hardware named Joe Jeffries its new CEO. Jeffries replaced Tom Knox in the role. Westlake is a chain that operates in 10 states and is corporately owned by the Ace Hardware co-op. O The majority of True Value's retailer shareholders approved the sale of 70 percent of the company's stock to private-equity firm ACON Investments. April

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