Industry News

NRF Statement on Final Overtime Rule

April 24, 2024

The National Retail Federation today issued the following statement from Executive Vice President of Government Relations David French after the Department of Labor’s (DOL) final overtime rule was released. Originally proposed in Sept. 2023, the rule will increase — in two steps — the minimum annual salary threshold that determines overtime pay eligibility under the Fair Labor Standards Act.

Eric Knox Appointed as Director of LBM Sales to Drive Growth in Lumber and Building Materials

April 24, 2024

In a strategic move to bolster its market position and drive business growth, Do it Best has announced the appointment of Eric Knox as the new Director of LBM Sales. Formerly the director of strategic business development Eric brings a proven track record and a wealth of sales experience. Eric will focus on expanding the reach and enhancing the sales strategies within the Lumber and Building Materials (LBM) division.

Do it Best Announces Q3 Results and Continued Investment in Members’ Growth

April 18, 2024

Do it Best has reported total sales of nearly $2.3 billion, a decrease of 10% over the same period during the prior year. The decrease in sales can be attributed to an increase in interest rates, an economic slowdown, and near-record warmth across much of the country. “We’re coming off a few very high-growth years, so it’s unsurprising to see it return to a new normal,” said Do it Best President and CEO Dan Starr. “I also anticipate housing to recover this year and spur more growth in the coming years.”

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Tractor Supply to Continue Partnership With Lainey Wilson

April 16, 2024

Tractor Supply Company, the largest rural lifestyle retailer in the United States, announced the continuation of its partnership with GRAMMY Award-winning and prolific singer-songwriter Lainey Wilson as a Brand Ambassador for 2024. In this role, Wilson will continue to authentically highlight Tractor Supply’s commitment to and passion for serving all those who enjoy living “Life Out Here.”

Do it Best, United Hardware Announce Merger, Strengthening Commitment to Independent Retailers

April 11, 2024

United Hardware and Do it Best announce an approved merger, reshaping the home improvement industry landscape. United Hardware shareholders overwhelmingly voted in favor of the merger on April 5. This strategic decision reflects a shared commitment to exceptional service, quality products, and a comprehensive range of programs to empower independent home improvement business owners.

WESTLAKE ACE HARDWARE TO OPEN STORE IN MISSION HILLS, CALIFORNIA

April 11, 2024

Westlake Ace Hardware announced today it has signed an agreement to open a new store in Columbia, Mo. Located in the Rock Bridge Shopping Center (405 E Nifong Blvd. in Columbia, Mo.), the 30,000 sq. ft. store will feature nearly 22,000 sq. ft. of retail space. Remodeling of the space, formerly occupied by Big Lots, will begin in the summer of 2024. A soft opening is planned for late 2024.

Ambassador Supply Announces New Additions to Their Growing Team

April 4, 2024

“We are excited to welcome our newest team members to Ambassador Supply,” said Randy Carman, president of Ambassador Supply. “As we enter a new phase of growth, their collective expertise will help us support our companies and accomplish our goals this year and beyond.”

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True Value Empowers DIYers and Local Retailers with First Campaign in Decade

April 4, 2024

True Value, the iconic hardware store brand with a rich legacy spanning 75 years, proudly announces the launch of its “Hardware Hero” campaign in partnership with its agency of record Laughlin Constable. At a time when retail is down across industries, and consumers are pinching pennies, True Value is leveraging its legacy brand, deep expertise, and operational scale to ensure independent home improvement retailers thrive.

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Do it Best Announces 2024 Spring Open Buying Day

April 4, 2024

Do it Best will host this year’s Spring Open Buying Day on April 24 at its world headquarters in Fort Wayne, IN. The company aims to expand the range of products from domestic and international vendors for its member-owners.

Aubuchon Company Acquiring Bibens Ace Hardware

March 27, 2024

Rick Bibens has agreed to sell Bibens Ace Hardware, with seven locations in Vermont in Springfield, Colchester, South Burlington, Burlington, Essex, Brattleboro, and Woodstock, to the Aubuchon Company, the oldest and largest group of family-owned hardware stores in America. The stores will continue to operate as “Bibens Ace Hardware,” “Brown & Roberts” in Brattleboro, and “Woodstock Home & Hardware” in Woodstock.