Hardware Retailing

FEB 2017

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

Issue link: http://www.hardwareretailingarchive.com/i/776295

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Page 109 of 118

February 2017 | HARDWARE RETAILING 103 Stanley Buying Craftsman Tool Business in $900M Deal Stanley Black & Decker is buying Sears' iconic Craftsman tool brand in a deal valued at about $900 million. With the acquisition, Stanley will own the rights to develop, make and sell Craftsman products. TheRedT.com/stanley-buys-craftsman Sears Announces 150 Additional Store Closures Sears is planning to close 150 additional Sears and Kmart stores in an attempt to "enhance liquidity and stabilize operating performance," according to the company. At the end of 2016, Sears had previously announced an upcoming closure of 30 other stores. TheRedT.com/sears-store-closures Menards Investigated for Possible Labor Law Violation The National Labor Review Board has filed a labor law violation claim against Menards for classifying its drivers as independent contractors instead of employees. Menards denies the allegations, saying the company has received no complaints from the companies it contracts with to deliver its products to customers. TheRedT.com/menards-labor-law J.C. Penney Continues Experimenting in Home Improvement Sector In 2016, J.C. Penney experimented with multiple product categories that compete directly with home improve- ment retailers. The Texas company began selling heating, ventilation and air conditioning systems in November in test stores in partnership with the manufacturer Trane. TheRedT.com/jcpenney-sells-hvac Lowe's Goal: Triple Ace Hardware's Canada Presence Lowe's Canada has plans for expansion that include growing the Canadian company RONA and roughly tripling Ace Hardware's store count. TheRedT.com/lowes-canada-ace Stanley to Sell Mechanical Security Business in $725M Deal Stanley Black & Decker will sell a majority of its mechanical security business, but will retain its electronic security and automatic doors businesses. The company intends to focus on advanced analytics, cloud solutions and new technologies in its remaining security categories. TheRedT.com/stanley-sells-security Ace Hardware Collaborating With The Grommet Ace Hardware and The Grommet, a product-launching platform for innovative consumer products, recently announced a collaboration that brings 20 unique products from 15 local makers into more than 160 Ace Hardware retail stores. TheRedT.com/ace-grommet Consultant: Sears, Like Titanic, 'Looks Set to Sink' Sears' third-quarter earnings followed the company's downward financial trend, inspiring conjecture about the possibility of the company's demise. Retail consultant Neil Saunders compares the company to the ill-fated oceanliner, Titanic. TheRedT.com/sears-sinking-ship New Law Allows Small Businesses to Offer Health Benefit Small business owners in the U.S. can now get and give a new employee benefit, courtesy of a bill President Barack Obama signed into law. A provision in the 21st Century Cures Act eliminates IRS fines for small businesses that want to offer health reimbursement arrangements to their employees to help cover the cost of insurance premiums. TheRedT.com/health-benefit EXPERIENCE TRU-INFRARED GRILLING Char-Broil ® TRU-Infrared TM Grills cook food evenly throughout, locking in natural juices and delivering unrivaled taste. MORE FLAVOR Hotter temperatures vaporize and lock in juices for more flavorful meals. Better heat control allows for temperature ranges unattainable by conventional grills. MORE VERSATILITY Specialized grates separate the food from the flames distributing heat evenly. MORE CONSISTENT 463371316 463672016

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