Advertisement
HomeCollectionsHome Quarters
IN THE NEWS

Home Quarters

FEATURED ARTICLES
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | November 4, 1994
As expected, Hechinger Co. reported disappointing October sales results yesterday, saying revenue in stores open for at least a year was flat for the month.The company's Home Quarters Warehouse division pulled down results. It reported a 2 percent decline in same-store sales, which are considered an important measure of retail health.The Hechinger Stores division, with locations concentrated in the Philadelphia, Washington and Baltimore areas, reported that same-store sales rose by 2 percent for the month.
ARTICLES BY DATE
BUSINESS
By KNIGHT RIDDER/TRIBUNE | May 20, 2006
SANTA ANA, Calif. -- The remodeled Newport Beach, Calif., eatery boasts sleek, leather-padded booths, crown molding, sapphire-blue pendant light fixtures and a plasma TV broadcasting cable news. Just another fancy fix-up at a coastal Orange County sit-down restaurant? Not quite. Try, the McDonald's of the future. The empire that pioneered speedy takeout is slowing things down by creating a nicer ambience for diners to relax in while eating a Big Mac. By year-end, 2,500 restaurants worldwide will be remodeled as part of a three-year project dubbed "Forever Young."
Advertisement
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | January 12, 1995
Home-improvement chain Hechinger Co. raised the white shop-apron yesterday in the Carolinas, saying it will evacuate those ultra-competitive states and swallow a year's worth of profits to do so.In what financial analysts said is necessary if painful surgery, Hechinger will close 13 Home Quarters Warehouse stores in North and South Carolina. Those stores have been hammered by bigger and newer operations run by Home Depot Inc. and Lowe's Companies.Landover-based Hechinger also will close an Alabama Home Quarters and four older Hechinger stores in New York, Virginia and Fort Washington in Prince George's County.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | June 20, 1999
In its heyday, Hechinger Co. billed itself as the world's most unusual lumberyard. For much of the '70s and early '80s, the Maryland-based retailer gained prominence nationally by relying on warehouse-style stores coupled with attentive customer service to lure customers away from corner hardware shops. But that was before retail powerhouses Home Depot Inc. and Lowe's Cos. Inc. began invading Hechinger's turf in Maryland and across the United States. Both have taken "big box" home improvement retailing to a new level by catering to a booming market of do-it-yourself home remodelers, offering variety, low prices and high levels of service.
BUSINESS
By Kevin Thomas and Kevin Thomas,Evening Sun Staff | November 5, 1991
Hechinger Co., the Landover-based hardware chain, is closing a total of seven stores in Washington, Virginia, Connecticut and the Carolinas.The move was described as part of a continuing repositioning.Except for one Washington outlet, the Hechinger stores being closed are in areas currently dominated by the company's Home Quarters Warehouses. That division is expected to pick up much of the business currently done by the stores that will be closed, officials said.The closings, which were announced yesterday, are slated for January.
BUSINESS
By a Sun Staff Writer | October 7, 1994
Shares of Landover-based Hechinger Co. fell 11.3 percent yesterday after the retailer said sales at stores open more than a year fell 2 percent last month.In all, sales at the company were up 20 percent to $251 million, with the company's Home Quarters Warehouse providing a 46 percent increase in total sales. The Hechinger stores saw a 2 percent decline in overall sales among old and new outlets.Hechinger said same-store sales, or sales at stores open at least one year, for Hechinger Stores fell 3 percent, while sales at same-store Home Quarters were flat.
BUSINESS
By Joel Obermayer and Joel Obermayer,Sun Staff Writer | May 20, 1994
Hechinger Co. reported sharply higher first-quarter earnings yesterday, offering evidence that cost-cutting and revamping in its chain of hardware stores is beginning to pay off.For the three months ended April 30, Hechinger Co.'s profits were $4.6 million, or 11 cents a share, a 44 percent jump from a year earlier, when profits were $3.2 million, or 8 cents a share. Sales increased 20 percent, to $574 million, and comparable-store sales were up 6 percent.Analysts said the latest results show the company successfully has cut costs at its 72 Hechinger hardware stores in the Mid-Atlantic region and has converted many to a new larger "home project" format.
BUSINESS
By Staff Report | November 19, 1993
Despite a 13.3 percent rise in sales, net income for the Hechinger Co. dropped 63 percent in its third quarter because of the expenses of opening eight Home Quarters Warehouses.Revenue for the Landover-based home-improvement chain grew to $529.4 million during the quarter that ended Oct. 30. Earnings dropped to $2.4 million, or 6 cents a share. By contrast, operating income for the quarter rose to $13.7 million, from $12.4 million a year ago.The drop in net income was attributed to an $8.8 million expense in opening eight stores in the company's Home Quarters subsidiary, which has 53 stores in the South, Midwest and New England.
BUSINESS
By Michael Dresser | November 27, 1991
Hechinger Corp., the Landover-based home improvement chain, overcame a third quarter that was difficult for most retailers and posted a 33 percent earnings gain, the company said yesterday. Net earnings were $6.5 million, compared with $4.9 million in 1990's third quarter.Despite that earnings surge, and an increase in quarterly revenues to $400.6 million, two retail analysts said that they were cutting their projections of Hechinger's fourth-quarter profits."In a pretty punk economy, they posted some pretty good results," said Budd Bugatch, research director at Ferris Baker Watts in Baltimore.
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | March 2, 1994
Hechinger Co., the Landover-based chain of home improvement stores, will turn the operation of its distribution center over to a Pittsburgh company, a move that will affect 160 workers.The change, which is scheduled to occur early next month, will save the company about $1 million a year, according to W. Clark McClelland, executive vice president and chief financial officer."They are able to do it more efficiently," he said.Mr. McClelland said most of the 160 employees will be hired by the new contractor, Genco Distribution Systems.
NEWS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | March 2, 1999
Eighteen months after its takeover by a California buyout firm, Hechinger Co. said yesterday that it has changed its top executive and shored up financing in an effort to rebuild its struggling operation.Hoping to stem heavy losses and win back customers, the Largo-based home- improvement retailer has secured $700 million in credit from BankBoston Retail Finance Inc.The credit line will give the company additional flexibility, said spokeswoman Lauri A. Rice.Hechinger operates 206 Hechinger, Home Quarters and Builders Square stores in 28 states and Washington, D.C., not including the 34 stores that it said last month it intends to close by July.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | August 24, 1995
Mired in a four-month slump, Hechinger Co. announced yesterday sweeping changes in operations and top management, cutbacks in personnel and a retrenchment in store openings.The Landover-based chain of home improvement stores is merging its two subsidiaries -- Hechinger Stores and Home Quarters Warehouse -- under one management team, which the company projects will result in a $20 million to $25 million pretax charge, but will ultimately mean about $20 million in annual pretax savings once the merger is completed by late next year.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | August 4, 1995
The financial dry spell continued in July for Hechinger Co. as the Landover-based home improvement chain yesterday reported a fourth consecutive month of anemic sales.Overall sales for the period that ended July 29 dropped 9 percent to $177 million, compared with the same month last year. July sales in stores open at least a year, a bellwether of performance because it factors out new stores, fell 6 percent, after declines of 7 percent in June, 8 percent in May and 10 percent in April."I have no reason to change my opinion -- the company is having a difficult time, but it's doing the best it can," said analyst Kenneth Lucas of Johnston, Lemon & Co. in Washington, D.C. "The retail environment is not that good.
BUSINESS
By Alec Matthew Klein and Alec Matthew Klein,Sun Staff Writer | July 7, 1995
Hechinger Co. absorbed a third consecutive month of poor sales, the Landover-based home improvement chain reported yesterday, all but conceding that spring, its most important season, was wiped out.Overall sales in June dropped 8 percent to $255 million, compared with the same month last year. June sales in stores open at least a year fell 7 percent, after declines of 8 percent in May and 10 percent in April."We've had a difficult spring," Vice President Richard S. Gross said. "Basically, spring did not happen for us."
BUSINESS
By Ross Hetrick and Ross Hetrick,Sun Staff Writer | February 24, 1995
Hechinger Co., the 133-store home improvement chain, said yesterday that its profits rose 31 percent in its fourth quarter, excluding the cost of store closings, as revamped outlets attracted more customers and its mid-Atlantic operation enjoyed its first increase in operating profits in three years.The Landover-based company also announced that its 75-year-old chairman, John W. Hechinger Sr., was relinquishing his day-to-day responsibilities while keeping the position of chairman in a "nonexecutive" capacity.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | January 12, 1995
Home-improvement chain Hechinger Co. raised the white shop-apron yesterday in the Carolinas, saying it will evacuate those ultra-competitive states and swallow a year's worth of profits to do so.In what financial analysts said is necessary if painful surgery, Hechinger will close 13 Home Quarters Warehouse stores in North and South Carolina. Those stores have been hammered by bigger and newer operations run by Home Depot Inc. and Lowe's Companies.Landover-based Hechinger also will close an Alabama Home Quarters and four older Hechinger stores in New York, Virginia and Fort Washington in Prince George's County.
BUSINESS
November 5, 1991
Hechinger Co., the Landover-based home improvement retailer, said yesterday that it would close seven of its traditional Hechinger stores as part of an ongoing "repositioning."Four of the stores are in the Carolinas, where the company has based its new Home Quarters Warehouse chain: Greenville, S.C.; Charlotte, N.C. (two stores); and Durham, N.C.Two other stores, in Harrisonburg, Va., and on Georgia Avenue in Washington, "just don't fit in," said Lennie Zallar, vice president and treasurer.
BUSINESS
By Michael Dresser and Michael Dresser,Staff Writer | May 12, 1993
Hechinger Co. said yesterday that it will eliminate its six-store Triangle Building Centers division, closing the books on a foray into Pennsylvania that yielded only marginal profits.John Hechinger Jr., chief executive of the Landover, Md.-based home improvement store chain, said the company was closing its smallest unit to concentrate resources on a "two-pronged approach."That approach calls for a focus on upgrading Hechinger's traditional stores in the mid-Atlantic states to Home Projects Centers while expanding into the Southeast, Midwest and Northeast under the banner of its Home Quarters warehouses.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | December 2, 1994
Hechinger Co. reported lackluster sales comparisons for November yesterday, but the company took comfort in the fact that the results were up against a strong month from last year.Hindered by continued intense competition in the home-improvement industry, sales in established Hechinger Co. stores fell by 1 percent last month compared with sales in November 1993. But the year-ago figures were up 9 percent from November 1992.Hechinger, based in Landover, operates 72 Hechinger stores and 61 Home Quarters Warehouse stores in 23 states and the District of Columbia.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Staff Writer | November 17, 1994
Stifled by intense competition in the Carolinas, profit at Hechinger Co. rose by 38 percent in the home improvement chain's latest quarter but nevertheless was lower than what Wall Street analysts had been expecting only a few weeks ago.The Landover-based retailer said it earned $3.3 million for the quarter that ended Oct. 29, or 8 cents a share, on $633.9 million in sales. Analysts had been expecting roughly 13 cents a share until Hechinger announced Oct. 21 that weak sales in its Home Quarters Warehouse division, especially in North Carolina and South Carolina, would hurt results.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.