Page 45 - HW May-June 2020

global eyes
“However, there is limited visibility into future business trends in this unprecedented operating environment, which results in an unusually wide range of potential outcomes for 2020 nancial performance.”
www.lowes.com
Ace aces it again –
Cooperative Ace Hardware continues
to go from record to record, with Q1 revenues of US$1.43 billion (+3.8% on last year), net income of US$36.2 million (+60.2%), US comparables +4.2% and online revenues +63%.
Noteworthy too is the rather emotive Q1 commentary of President & CEO, John Venhuizen: “While our rst quarter generated record sales and pro t, we humbly acknowledge that this global pandemic has ripped open much of the world like a nasty earthquake in the six weeks since our quarter ended. Business
Homebase launches decorating-speci c sub-brand
UK retail may look in a pretty parlous state but the DIY channel at least is trying a few new things to keep the market fresh.
Homebase for example, having repurposed a pair of former Bathstore shops, last month opened two new small format high street stores dubbed DECORATE by Homebase, one in the north the other in posh Surrey.
Aiming to provide all customers’ decorating needs under one roof, from planning with in-house colour consultants and interior designers, through to the nal nishing touches, DECORATE by Homebase, says CEO Damian McGloughlin, is “about new store experiences for our customers.”
“We’re extremely excited about this concept. This launch was initially in our plans for March, though we chose to delay opening to ensure we could open our doors safely for customers and our team.
“We are launching DECORATE by Homebase on a trial basis at this stage, but we see potential to roll this out across more high streets in future.”
www.homebase.co.uk
has changed dramatically in this period, as has life for a meaningful portion of the world.
“We feel both the blessing and the burden of being declared an essential retailer. e protection of our people and our neighbors remains our highest priority. I want to convey my deep and sincere appreciation to the Ace team and in particular our steady-handed drivers, our hard-working warehouse specialists and our in-store, red-vested heroes for their grit, guts and servant hearts.”
www.acehardware.com
MORE AT www.facebook.com/nzhardwarejournal
MAY/JUNE 2020 | NZHJ 43