Content about Orchard Supply Hardware Stores Corp.

June 19, 2013

A report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

San Jose, Calif. -- A Wednesday report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

June 17, 2013

Orchard Supply Hardware Stores Corp. is filing for Chapter 11 bankruptcy. As part of the filing, Orchard Supply has reached an agreement for Lowe’s to purchase acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners.

San Jose -- Orchard Supply Hardware Stores Corp. is filing for Chapter 11 bankruptcy. As part of the filing, Orchard Supply has reached an agreement for Lowe’s to purchase acquire the majority of its assets for $205 million in cash, plus the assumption of payables owed to nearly all of Orchard’s supplier partners. Under the terms of the agreement, Lowe’s, serving as “stalking horse bidder,” would acquire no less than 60 of Orchard’s stores, based on further due diligence on the store locations.

May 6, 2013

Orchard Supply Hardware Stores Corp. reported Monday a loss of $33.6 million for the quarter ended Feb. 2, widened from a loss of $7.3 million in the year-ago period.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. reported Monday a loss of $33.6 million for the quarter ended Feb. 2, widened from a loss of $7.3 million in the year-ago period.

Sales for the quarter rose to $153 million from $141.6 million, and same-store sales edged up 1.6%.

For the full year,  the company lost $118.4 million, compared with a loss of $14.5 million in the prior year. Sales dipped to $657.3 million, compared to $660.5 million for fiscal 2011.

October 31, 2012

Orchard Supply Hardware Stores Corp. said it has named Samantha Osselaer as VP marketing, effective Nov. 5.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. said Wednesday it has named Samantha Osselaer as VP marketing, effective Nov. 5.

Osselaer was most recently senior director, creative and branding, for Overstock.com and has also served as a creative VP for both Smith & Hawken and Macy’s.

As one of her duties, Osselaer will lead the branding and marketing of the chain’s new neighborhood store format that is currently being rolled out.

 

September 21, 2012

Orchard Supply Hardware Stores Corp. said Friday it will add two California stores to its rollout of a new neighborhood format, with the grand re-openings of a pair of stores in the company’s hometown of San Jose on Oct. 6.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. said Friday it will add two California stores to its rollout of a new neighborhood format, with the grand re-openings of a pair of stores in the company’s hometown of San Jose on Oct. 6.

Both stores have been operational for years, but the company said that the reformatting is so significant that they would be marked by grand re-opening celebrations.

September 11, 2012

Orchard Supply Hardware Stores Corp. reported a loss of $26.7 million for the quarter ended July 28, compared with net income of $3.9 million in the year-ago period.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. reported Tuesday a loss of $26.7 million for the quarter ended July 28, compared with net income of $3.9 million in the year-ago period. The results include write-offs and charges related to real estate sale-leaseback transactions.

Sales dipped to $194.1 million from $196.4 million, and same-store sales edged up 0.9%.

January 3, 2012

Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on December 30, 2011.

San Jose, Calif. -- Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on December 30, 2011. Trading of Orchard’s Class A Common Stock will begin Tuesday on the Nasdaq Capital Market under the symbol “OSH”.

December 12, 2011

The board of Sears Holdings Corp has approved the spinoff of Sears’ Orchard Supply Hardware Stores Corp.

New York City -- The board of Sears Holdings Corp has approved the spinoff of Sears’ Orchard Supply Hardware Stores Corp.

Sears announced its intention to spin off the 89-store hardware store chain in June, saying both companies could better focus on their goals as separate firms.

June 24, 2011

Sears Holdings Corp. disclosed in a Thursday filing that it plans to spin off its Orchard Supply Hardware Stores Corp. business as a separate, publicly traded company.

Hoffman Estates, Ill. -- Sears Holdings Corp. disclosed in a Thursday filing that it plans to spin off its Orchard Supply Hardware Stores Corp. business as a separate, publicly traded company.