HF Price Check

[highland512]

I wish I could find a good pawn shop. I miss my nasty hole in the wall pawn shops in Louisiana.

[bonneyman]

I wish I could find a good pawn shop. I miss my nasty hole in the wall pawn shops in Louisiana.

Alot of the good local ones have either dropped bin tools or closed entirely. There's only one good one left for tools in Tucson (all the way on the other side of town from me), and there's one good one I know of in Phoenix. I'm going there later this month - looking forward to spending a few hours digging!

[DeadNutz]

I wish I could find a good pawn shop. I miss my nasty hole in the wall pawn shops in Louisiana.

I bought my favorite 1-5/8 Williams DBE wrench from a pawn shop in Louisiana off the bay. I got several big wrenches so cheap I couldn't believe it. I think the shipping was the most expensive part of the deal.

[highland512]

Big tools where easy to find down there. Many tools “walking” out of plants with big pipe flanges.

[Heiny57]

Well that just changed things! I was planning on buying 2, 44 inch, and 1, 26 inch Tool boxes for the new garage to use for a workbench / storage purpose. Plan B, made in America Craftsman. Not as sturdy and only 18” deep, but I’ll make it work.

[Heiny57]

I should have read all the posts here.    The prices haven’t changed. 

[goodfellow]

Just found this in the news. The CEO is raising debt to pad his cash position -- an almost yearly trend he started some years ago.

https://www.yahoo.com/finance/news/billionaire-tool-firm-taps-loans-195023273.html

The streamlining of operations and product offerings are probably a result of these offerings. Selling "junk" level debt is risky, and that could explain a lot about why the company is also hiking prices, and reducing product variety.

[highland512]

I have often thought while looking around HF how they afford their rapid expansion while selling $5 socket sets and $90 welders. 

[fatfillup]

Just read the article Ray referenced, very scary for anyone buying the debt in my opinion.  Makes me wonder if HF is profitable or is it similar to a Ponzi scheme where the ones at the top make bank while the ones at the bottom get stiffed when the company can no longer service the debt

[coolmercury]

Some would call it taking your money and running!!!!

[RustFarmer]

Interesting article.

I wonder if Smidt is doing this so he can get more dividends now and pay the current tax rate on those dividends which for a long term holding would fall under the lower qualified dividends tax rate.

https://moneyinc.com/dividend-tax-rate-2020/
"If your income is more than $38,600 but less than $425,800, then the tax rate on qualified dividends will be 15 percent. For individuals earning in excess of $425,801, the dividend tax rate on qualified dividends will be 20 percent."

If the Dems get power, I guarantee they will raise both the capital gains and dividend tax rates.

Ironically, Smidt is a big Dem doner.

[Hootbro]

Walked through a HF for the first time in probably 5 months and noticed the pricing change on everything else. Want just some basic mechanic type work gloves was shocked in what they wanted for them now.

Also looked around and in every section could see they have gone full in on up scaling their branding and perceived quality content on a lot of items. Some for the better and some not so much.

[goodfellow]

No surprise Hootbro. In many places across the country they are now "the only game in town" for walk-in budget tool purchases. The company is changing rapidly to meet demand, and judging by their valuation, they are succeeding. Stores are opening up a rapid pace; even in these pandemic driven economic times.

[bonneyman]

No surprise Hootbro. In many places across the country they are now "the only game in town" for walk-in budget tool purchases. The company is changing rapidly to meet demand, and judging by their valuation, they are succeeding. Stores are opening up a rapid pace; even in these pandemic driven economic times.

Yep, they no longer have to offer low prices to get you in the door. As the only option in town now they can do what they want.

So glad I already have sets of quality old USA tools over the past decade from various sources. New purchases are probably gonna get thin!