Ohio-based Sears Appliance and Hardware to close
Sears Appliance and Hardware, which opened more than a decade ago in Toledo, Ohio, is scheduled to close by the end of June, according to the Toledo Blade.
This is just one of several businesses that have announced closures along a two-mile stretch that is the busiest thoroughfare between Toledo and its largest suburb, Bedford Township. Others that have closed in recent months include a Value City department store and Fazoli’s Italian Restaurant.
The Sears Hardware store opened in a former grocery store in the late 1990s, filling a void left by the departures of both Handy Andy and Builder’s Square, the article said. That was before Home Depot and Lowe’s came into the area.
Kim Freely, a Sears Holdings Corp. representative, said the store is “closing for business reasons,” the article said. It is one of approximately 110 such stores in the company’s portfolio and “the only one closing this year that we’ve announced,” she said.
A&P 4Q loss widens
MONTVALE, N.J. A&P reported a loss from continuing operations of $83.4 million for the fourth quarter, compared with a loss of $44.6 million for the same period last year.
Sales for the fourth quarter were $2.3 billion, compared with $2.2 billion in the prior year’s fourth quarter. Comparable-store sales decreased 1.3% during the comparable 13-week period.
Christian Haub, executive chairman of the board, said, “The current challenging economic environment has clearly impacted our business, as it has all in our industry. That being said, A&P has continued to make progress on many fronts and we have plenty of reasons to be optimistic for the future of our company, including good performance in our Fresh, Gourmet and Discount businesses and the realization of target synergies from the Pathmark acquisition.
“We are also confident that, similar to the improvements we have accomplished in the core A&P business, the initiatives we have recently enacted will improve the overall Pathmark business.
Industry veteran joins ProBuild board
ProBuild Holdings, the nation’s largest pro dealer, has announced the election of Carl Hedlund to its board of directors. Hedlund, who retired as president of Therma-Tru in 2007, will serve as a member of the board’s compensation committee.
Prior to Therma-Tru, Hedlund spent 28 years with Owens Corning in a variety of leadership positions, both in the fiberglass building materials and the composite businesses, including president of the roofing and asphalt division and president of the retail distribution division.
Internationally, Hedlund served as president of the Asia/Pacific and Hong Kong business, as well as president of the international building materials business in Belgium.