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“Lowe’s Agrees to Buy Orchard Supply Hardware” by Mattioli and Glazer at WSJ. “Under the agreement, Lowe’s would acquire at least 60 of Orchard’s 91 stores, plus an option to buy the rest, the people said. They said Orchard is expected to propose the deal Monday in a Chapter 11 bankruptcy filing…The deal would […]
“HD Supply may raise up to $1.3 billion in IPO” at AP via Businessweek. “The company plans to sell 53.2 million shares priced between $22 and $25 each…Home Depot remains its largest customer and accounted for $296 million in revenue last year. HD Supply reported a loss of $543 million on revenue of $7.03 […]
“Retail sales beat expectations as automobiles surge” at Reuters. “Retail sales rose more than expected in May as households stepped up purchases of automobiles and bought other goods, suggesting the economy was squeezing out of a recent soft patch. The Commerce Department said on Thursday retail sales increased 0.6 percent after edging up 0.1 […]
“How Costco saves taxpayers money” by Eleanor Bioxham at Fortune. “Paying well ultimately saves Costco money. The company gets tons of applications and can afford to hire selectively. And it also doesn’t incur the high costs of turnover that other companies must deal with. In fact, turnover at the company runs just 10% overall […]
“Home Depot’s Breakfast with Analysts” by Andria Cheng at Market Watch. “The company sees its 180-store Canada business only has 2 to 3 incremental stores while its 101-store Mexican business is “growing nicely” and on the way to 125 locations…The company has shut its seven larger format China stores after disclosing the plan last […]
“Walmart Canada & P&G Launch QR Code Campaign at Bus Stops” by Jennifer Kwan at Yahoo. “Here’s the idea: customers can use their mobile devices to scan posters with QR-codes at certain bus shelters to buy select items including Pantene shampoo, Pampers diapers and Tide detergent and have the goods delivered to their homes […]
“Wal-Mart has no U.S. grocery delivery expansion plans for now” at Reuters. “For now, it is holding off based on a lack of demand. “We are not making any announcements about other markets for grocery delivery in the U.S. right now,” Neil Ashe, the president and chief executive officer of Walmart Global eCommerce, told […]
“Home Depot No. 5 on J.D. Power Home Improvement Retailer Satisfaction rankings” by Jacques Couret at Atlanta Business Journal. “The Home Depot Inc. ranked fifth place on the J.D. Power 2013 Home Improvement Retailer Satisfaction Study. The Atlanta-based home improvement giant scored 747 (out of 1,000) in the study, which was below the industry […]