Most Active Stories
- Statue Of A Homeless Jesus Startles A Wealthy Community
- Do You Know This Chapel Hill Bus Driver? Man Wants To Say Thanks
- Witness To A Texas Execution: Part One
- UNC’s New Grading System Could Show What That ‘A’ Is Really Worth
- Not Enough Doctors? How The Medical Education System Is Contributing To The Shortage
Hosts, Reporters and Producers
Mon June 17, 2013
Lowe's Looks To Acquire Hardware Stores
Originally published on Tue June 18, 2013 8:52 am
DAVID GREENE, HOST:
NPR's business news starts with an acquisition for Lowe's.
(SOUNDBITE OF MUSIC)
GREENE: The home-improvement retailer Lowe's has reportedly agreed to buy Orchard Supply Hardware Stores. The sale price is expected to top $200 million. Now, Orchard is a California-based hardware and garden chain. It was once owned by Sears, and it's now about $230 million in debt.
If this sale goes through, Lowe's would gain at least 60 of Orchard's 91 stores, expanding its footprint in California and moving into a smaller-box format that many big-box stores are shifting to, as they try to compete with online retailers. Transcript provided by NPR, Copyright NPR.