Weekly Industry Insights — 08/30/24
Beacon Award Winners Unveiled, Independent Home Improvement Conference Wraps Up
During the first night of the inaugural Independent Home Improvement (IHI) Conference at the JW Marriott in Marco Island, Fla., this week, the Hardware Connection’s Beacon Awards were presented to four outstanding retailers, including Buchheit of Perryville, Mo.; Nation’s Best of Dallas; Koopman Lumber for its Dennis, Mass., store; and Village Hardware & Home Center for its Findlay, Ohio, location. In the following days, more than 700 retailers from as far away as Hawaii attended seminars and participated in events such as the Celebration of Independents, sponsored by Orgill with entertainment provided by Do it Best. Look for complete coverage of the IHI Conference, including full profiles of the Beacon Award winners, in the September issue of Hardware Connection.
Do it Best Reports $4.6 Billion in Sales for FY 2024, Announces Second Highest Dividend in Company History
Member-owned hardware store cooperative Do it Best reported a 4 percent decline in year-over-year sales for fiscal year 2024, with total sales reaching nearly $4.6 billion. Despite a challenging market environment marked by decreased demand and heightened competition, Do it Best’s performance was in line with the overall home improvement market, which declined by 1.8 percent.
President and CEO Dan Starr highlighted the company’s resilience, noting, “Even in a difficult market, we achieved total sales of nearly $4.6 billion.”
Do it Best announced the second highest dividend in its history, returning more than $159 million to shareholders and reported 20 percent membership growth.
PARR Acquires Rochester True Value Hardware & Lumber
Hillsboro, Ore.-based building-material supplier PARR announced the acquisition of Rochester True Value Hardware & Lumber in Rochester, Wash., marking its 25th lumberyard. Located on seven acres, PARR Lumber Rochester will serve a wide area, including Olympia and Centralia. PARR plans to enhance services, expand offerings, and retain eight long-tenured team members. CEO Mike Howell highlighted the acquisition’s importance in supporting the South Puget Sound market and preserving the legacy of a second-generation, family-owned business. For more information, visit PARR’s press release.
Do it Best Hires Hasselbach as Director of Marketing
Do it Best has announced the appointment of Kerry Hasselbach as its new director of marketing. With more than 20 years of experience and a strong track record in leadership roles across the home and retail industries, Hasselbach is set to be a valuable asset to the team. Hasselbach’s career spans various leadership positions in New York, Dallas, and Fort Wayne, including a recent vice president role at Vera Bradley. Her experience in building and revitalizing brands, particularly in the marketing and development sectors, began in New York City.
“Kerry’s experience and visionary leadership will be instrumental in driving our marketing strategies forward,” said Allison Flatjord, vice president of marketing and ecommerce at Do it Best. “Her enthusiasm and commitment to putting people and community first align perfectly with our values.”
For more about Hasselbach, see Do it Best’s press release.
Mayhew Tools Launches New 2-Piece Mini Heavy-Duty Pry Bar Set
Mayhew Tools has launched its new 2-Piece Mini Heavy-Duty (HD) Pry Bar Set. The set includes a straight and curved pry bar, both with 3/16-inch blades and an overall length of 5 inches. The vibrant green handles ensure easy tool identification, while the compact design is ideal for tight spaces. Crafted from hardened and tempered alloy steel with a black oxide finish to prevent rust, the tools offer maximum durability and prying power. The ergonomically designed handles, made from high-tensile strength Nylon 6, provide superior comfort and grip. This new set is backed by a lifetime warranty.
Stanley Black & Decker Appoints Wintner as Chief Human Resources Officer
Stanley Black & Decker announced the appointment of Deborah Wintner as senior vice president and chief human resources Officer (CHRO). Wintner, who previously served as SVP of human resource operations and CHRO for tools and outdoor, will now oversee the company’s global HR strategy, talent management, and compensation. President and CEO Donald Allan Jr. praised Wintner’s leadership, noting her expertise in leadership development and her strategic mindset as key to driving the company’s people and culture strategy forward. For more information, see the company’s press release.
Triple “S” Building Center Rebrands as Mead Lumber
Triple “S” Building Center, an Omaha, Neb.-based building materials supplier in Butte, Mont,, since 1988, has officially rebranded as Mead Lumber. This change marks a step in unifying Mead Lumber’s brand identity. The rebranding follows Mead Lumber’s acquisition of Triple “S” in 2022.
