True Value 2010 Annual Report Download - page 4

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• Co-located our data center, reducing overhead costs
and enhancing our ability to provide timely service in the
event of an emergency.
WINNING AT RETAIL
The co-op equips our retailers with the tools and solutions
to be the DIY enthusiasts’ preferred destination for projects,
repairs and maintenance. Steeped in retail best practices
and informed by customer data, the DTV format gives re-
tailers the competitive edge to meet and exceed expecta-
tions by winning on each of the five key retail principles –
reflected in our 2010 efforts:
• People: Expanded retail-focused competencies among
associates, retailers and in-store associates through
hands-on learning at the Mt. Prospect, Ill., corporate
store, True Value University and the Learning Resource
Center. In all, more than 6,000 retail associates partici-
pated in continued education during 2010, focused on
delivering the 5Ps of retail success.
• Promotion: Executed strong national promotions, effec-
tive circulars and the launch of e-commerce, with more
than 1,600 retailers signed up and nearly 1,400 Ship-to-
Store locations. We provided a new local website appli-
cation and online circulars, and utilized social media – all
to attract the DIYer, drive store traffic and sales, as well as
strengthen the True Value brand.
• Place: Supported DTV projects and financing through
more than 76 new store openings, expansions, reloca-
tions and remodels during 2010 – evidence that our re-
tailers are seeing how the format wins with customers
and then leveraging the co-op’s line of credit.
• Product: Introduced the “difference-makers” that drive
retailers’ share of wallet – 10 categories representing 26
percent of total store sales and 21 percent of retail mar-
gin dollars – and leveraged point-of-sale data from more
than 1,500 stores to ensure DTV assortments reflect what
consumers want; coupled with in-store merchandising
planograms designed to seize the sale and build the basket.
• Price: Drove store traffic with aggressively priced, adver-
tised items that create value for shoppers and deliver
strong retailer margins, thanks to line reviews and new
retail assortments; increased use of the Retailer Work-
bench and Retail Price Enhancement program.
PROFITABLE GROWTH
True Value has proven staying power. It’s reflected in every-
thing from the co-op’s solid financial position and expand-
ed retail square footage to increased retail comparative
store sales. With nearly 900,000 square feet of DTV space
added in 2010, the co-op is well positioned for long-term
growth. In fact, stores that remodeled in 2008 and 2009
outperfomed non-DTV stores by more than 9 percent dur-
2 TRUE VALUE COMPANY