DATATRAC: Home Center and Hardware Chains – October 2017

Personnel Updates

• PPG Exec VP Viktor Sekmakas resigned.

Financial Focus

• Do It Best Corp. reported FYE 6/24/17 gross sales of $3.2 billion, up 6.1% from the previous year.

Industry Insight

• Menards faces a number of class action lawsuits filed by employees that allege withholding overtime pay and other unfair practices related to compensation.

• Sears Holdings received another cash infusion from CEO Edward Lampert to the tune of $100 million while Sears Canada looks to cease operations.

Mergers and Acquisitions

• Ace Hardware Corp. acquired The Grommet, a new-product incubator and ecommerce platform that has partnered with Ace in recent years and counts Fit Bit and Soda Stream as products that have taken off in part as the result of its efforts.

• Do It Best member Gillman Home Centers (IN and OH) acquired fellow Do It Best member Aurora Lumber Co. (Batesville, IN).

• Koopman Lumber& Hardware (MA) acquired Doyle Lumber Company and its one location, which will be rebranded with Koopman Lumber name.

• Lezzer Lumber Company (PA) acquired People’s Building Supply (Stockertown, PA) bringing its total to 12 retail locations.

Real Estate

• 84 Lumber opened a second San Antonio-area store.

• ABC Supply recently opened a number of California locations including those in Antioch, Chico, Hayward and Orange.

• Kuiken Brothers is preparing for a ninth location in Newark, NJ.