Weekly Industry Insights — 4/19/24
Do it Best Reports Q3 Sales of $3.2 Billion, down 7.2%
After three quarters in its fiscal year, Do it Best reported total sales of more than $3.2 billion, a decrease of 7.2% over the same period during the prior year. The sales figures were attributed to an increase in interest rates, a soft economy, and a near non-existent winter across much of the country, according to a Do it Best press release.
R.P. Lumber Acquires Custer Do it Best Hardware & Lumber
R.P. Lumber announced another acquisition this past month, adding Custer Do it Best Hardware & Lumber, an independently owned retailer of hardware, lumber, and building materials in Custer, S.D. R.P. Lumber now has 83 locations throughout Illinois, Missouri, Wyoming, Iowa, Wisconsin, and South Dakota.
Westlake Ace Hardware to Buy Clarks Ace Hardware
With two locations in Maryland, Clarks Ace stores will be rebranded as Westlake Ace but will retain store management and personnel and much of the current product mix, according to a recent Westlake Ace Hardware press release. Founded in 1845, Century Club member Clarks Ace Hardware is the seventh-oldest family-owned hardware business in America.
Home Depot’s Acquisition of SRS, GDP and Interest Rates Analyzed
As part of Craig Webb’s monthly economic video report, he examines economic trends along with insights from trade shows and industry events. Find our more here.
Costello’s Ace Acquires Warrenville Paint & Hardware
Bill and Michele MacDonald sold Warrenville Paint & Hardware in Warren, N.J., to Costello’s Ace Hardware, which now has 49 locations in five states. The store will continue to operate as Warrenville Paint and Hardware and Bill MacDonald will remain to manage current commercial accounts.
Do it Best, United Hardware Formalize Merger
Do it Best and United Hardware formalized their merger after United Hardware shareholders overwhelmingly voted in favor of the merger on April 5. United Hardware store locations will retain their independent brand identities, according to a press release from Do it Best.
Ace Hardware Rolls Out Vintage Apparel to Celebrate Century
Vintage Threads, a new line of apparel from Ace Hardware, celebrates the company’s centennial with throw-back logos and design elements. The new line of apparel includes t-shirts and hats, some featuring the original Ace Hardware logos, according to the co-op’s recent press release.
Georgia Pecan Companies Join Forces
Pecan Nation and South Georgia Pecan Company have announced a collaboration aimed to expand production, ensure quality and increase efficiencies, according to a press release from South Georgia. Pecan Nation has been a leader in growing and marketing pecans for over five generations, and South Georgia Pecan operates facilities in Georgia and Texas and is the largest pecan sheller in the world.
Owens Corning, Ripple Glass Partner for Earth Day Program
With Earth Day this coming Monday, Owens Corning and Ripple Glass announced that they have partnered to collect 50 tons of glass as part of their recycling initiative. The companies estimate that 100,000 pounds of glass has been diverted from the landfill, which is enough glass to insulate approximately 105 single-family homes with fiberglass batt insulation, according to a Ripple Glass press release.
