Company Overview of True Value Company
True Value Company operates as a member-owned wholesaler cooperative of hardware and related merchandise in the United States and internationally. The company also manufactures and sells paint and paint applicators. In addition, it offers value-added services, such as marketing, advertising, merchandising, and store location and design services to its retailers. Further, it provides interest-free or low-interest bearing loans to retailers to remodel, expand, relocate, or open branch or new Destination True Value format stores. It sells products primarily to hardware retailers, industrial distributors, garden centers, and rental retailers. The company has approximately 4,000 retail locations,...
8600 West Bryn Mawr Avenue
Chicago, IL 60631
Founded in 1948
Key Executives for True Value Company
Chief Executive Officer and President
Chief Operating Officer and Senior Vice President
Chief Information Officer and Senior Vice President
Chief Customer Officer and Senior Vice President of Marketing
Compensation as of Fiscal Year 2013.
True Value Company Key Developments
True Value Company Reports Earnings Results for the Fourth Quarter and Year Ended December 28, 2013
Feb 24 14
True Value Company reported earnings results for the fourth quarter and year ended December 28, 2013. For the quarter, the company reported revenue of $340.7 million, an increase of 0.2%, or $0.7 million. The company posted quarterly earnings of $12.5 million, a decrease of 57.0% or $16.6 million, from $29.1 million for the same period a year ago. Excluding the $16.5 million non-recurring gain in 2012, earnings were down $0.1 million or 0.8%.
For the year, the company revenue was $1,411.5 million, an increase of 1.0%, or $13.5 million. The company posted earnings of $55.3 million, a decrease of 26.2% or $19.6 million, from $74.9 million for the same period a year ago. The profit decrease was primarily driven by a 2012 fourth quarter litigation settlement gain of an ongoing matter. The profit decrease was 5.3%, excluding the one-time gain. Total year end debt was $184.2 million, down 0.5% or $0.9 million, from $185.1 million a year ago.
True Value Company Appoints Jared S. Littmann to the Board of Directors
Dec 16 13
Jared S. Littmann of K&B True Value, in Annapolis, Md. was recently appointed to the board of directors for True Value Company. Littmann serves as co-owner of K&B True Value, in Annapolis, Md. Littmann brings a wealth of experience to the board of directors, including his service on the Annapolis City Council as an Alderman, chair of the Environmental Matters Committee, and member of the Housing and Human Welfare Committee. He is also a founding member of the South Forest Drive Business Association.
True Value Company Announces the Retirement of Mike Clark as Senior Vice President and Chief Merchandising Officer
Nov 22 13
True Value Company has announced the retirement of Mike Clark, senior vice president, or SVP, and chief merchandising officer. Clark will provide support to the co-op through the end of the year in an advisory capacity. Clark joined True Value in 2008 and led the charge in building a world-class merchandising organization. His career spans nearly 40 years with senior executive merchandising roles at both Orchard Supply Hardware and Sears.
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