Orchard records successful year, prepares stock offering. (Orchard Supply Hardware Corp.)

Do-It-Yourself Retailing, April, 1996

The 60-unit Orchard Supply Hardware reported year-end sales increased 21 percent to $532 million. Maynard Jenkins, president and ceo, said, "Looking forward, we do not anticipate our sales and earnings increases will maintain as rapid a pace as last year. We do, however, feel that the company is well-positioned for growth."

Orchard, San Jose, Calif., began an offering of 500,000 new shares and an offering of 2 million existing shares owned by an investment partnership. The company said that the proceeds will be used for general corporate purposes, including working capital and its continuing store expansion program. Orchard has also applied to list its common stock on the New York Stock Exchange.