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February 9, 2010
JELD-WEN Celebrates 50 With Ads
JELD-WEN launched a new ad series in conjunction with their 50th anniversary, which will focus on environmental benefits and design options. The campaign debuts this month with a consumer-focused series dubbed ‘Real Life’ and trade-focused ads called ‘Inspired.’ The print ads will appear in builder directories, lifestyle magazines, and architectural publications throughout Canada and will be supported by television and radio throughout the year. “We thought it was important to launch a campaign that celebrates our accomplishments and our customers,” says Sante Cigana, Canadian vice-president. “This campaign captures the essence of why people invest in windows and the environmental benefits they can expect once they purchase a JELD-WEN product.”
RIMA Launches Verification Program
The Reflective Insulation Manufacturers Association International (RIMA-I) introduced its voluntary ‘Product Verification Program,’ allowing member manufacturers to verify products using a third-party accredited laboratory. The association says it launched the program because many business professionals and consumers want to know if products meet code standards and will perform as expected. The program identifies reflective products that fulfill test requirements in accordance with the current applicable ASTM standards, and utilizes an independent, accredited testing and inspection laboratory to determine if the products comply. The verification process is currently available for products sold in the U.S., however, the program will soon be expanded to include Canada and Europe followed by other countries around the world. For more information, visit www.rimainternational.org.
Ace Introduces Mobile Site
Ace Hardware Corporation unveiled its new mobile site (http://acehardware.com), giving its customers the ability to browse company information from hand-held devices. The mobile site was launched with the help of TrueActionTM, a GSI Commerce company. “We are able to provide our customers with the ability to search their local Ace ads, find the nearest Ace store, and link to our social sites all from the convenience of their phone,” said Mark Lowe, eCommerce marketing supervisor for Ace. “It’s a big moment for us, and we’re excited to be one of the first in our industry to connect with the mobile consumer.”
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February 8, 2010
Lowe’s Opens First Mexico Store
Lowe’s has expanded internationally again with the opening of its first store in Mexico, in the northern industrial city of Monterrey. The store features 94,000 square feet of retail sales space and an adjacent garden centre. Through an investment of $100 million, Lowe's says it will open five stores in the Monterrey area over the next couple of years – going up against competitor Home Depot Inc., which has more than 70 stores in Mexico.
CanWel Announces New Name, Symbol
With the recent successful conversion from an income fund to a dividend-paying corporation, and with the acquisition of Broadleaf Logistics Company, CanWel reports it will change its name to the CanWel Building Materials Group Ltd., following its annual shareholders meeting in May 2010. It also announced the commencement of trading under its new symbol, CWX.
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February 5, 2010
Building Permit Value Advances
Contractors took out $6.2 billion in building permits in Dec., representing an increase of 2.4 per cent from Nov. and a 32.6 per cent increase from Dec. 2008, says Statistics Canada. In the non-residential sector, municipalities issued permits worth $2.3 billion, 6.8 per cent more than in Nov. and 13.3 per cent more than in Dec. 2008 – stemming from an increase in the commercial components in Alberta and Ontario. On the residential side, the value of permits remained steady at $3.9 billion, with declines in Ontario, Alberta and Manitoba, but offset by a gain in B.C. After nine consecutive monthly increases, the value of building permits for single-family dwellings dropped 1.3 per cent to $2.5 billion. Municipalities issued $1.3 billion worth of permits for multi-family dwellings in Dec., up 2.1 per cent from Nov. The value of commercial building permits increased for the third straight month, advancing 29.2 per cent to $1.5 billion in December. The consecutive gains raised the level of construction intentions for commercial buildings to its highest point in 2009. The December increase was largely due to construction intentions for office buildings in Ontario and Alberta.
BMR Helps Deploy Haiti Reconstruction
BMR LE GROUPE is contributing to the Haiti reconstruction efforts by joining forces with the non-governmental organization, Emergency Architects of Canada. BMR president and CEO, Yves Gagnon, along with Jean Falardeau, vice-president, operations, signed a partnership agreement including a $20,000 contribution toward the first part of Emergency Architects of Canada's mission to rebuild Haiti. The first stage will involve establishing solid foundations for the healthy and sustainable reconstruction of the buildings for Haitians. BMR will also help fund the deployment of an intervention team of building professionals to collaborate on-site with Haitian colleagues to start building.
Canadian Tire Including Sustainability Metrics
Canadian Tire Corporation, Limited launched its first Community and Business Sustainability Report and says it will be among the first of Canadian companies to include and report on sustainability metrics in its quarterly and year-end financial reporting. The company is working to establish metrics that they say reflect the realities of the retail sector. It will match accepted criteria such as carbon emissions or landfill diversion with sector-specific metrics affecting supply chain, packaging, and retailing of products. Beginning in 2010, some sustainability metrics will be reported quarterly with others summarized annually. "For Canadian Tire, sustainability is a business strategy and not simply an environmental or green initiative," said Stephen Wetmore, president and CEO. "We owe it to our communities to be a leading corporate citizen - and we owe it to our shareholders and customers to run a strong company."
Dow Insulating Olympic Structures
Dow Chemical Canada ULC, ‘Official Supplier of Insulation Materials to the 2010 Winter Games,’ says it’s playing a significant part in making the 2010-related structures energy efficient and better performing. Its STYROFOAM brand insulation – installed under garden rooftops and ice rinks – or its Spray Polyurethane Foam – installed on the exterior of the track for bobsleigh, luge, and skeleton competition – were used to enhance comfort and save energy and maintenance costs.
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February 4, 2010
Black & Decker 4Q Improves
The Black & Decker Corporation reported fourth-quarter net earnings of $33.9 million compared to $43.7 million in the same period a year ago. Not including the effects of currency translation, sales decreased about nine per cent for the quarter – a major improvement from the more than 20 per cent drop in the first three quarters of the year. The 4Q earnings reflect $58.8 million of pre-tax expenses related to the proposed merger with The Stanley Works. The toolmaker also announced debt of $632 million at year-end, nearly a 50 per cent reduction from the prior year. "Sales in the quarter exceeded our expectations in all three of our business segments,” said Nolan D. Archibald, chairman and CEO. “While 2009 was a very challenging year, we delivered profits well above our initial forecast and very strong net cash generation. As we prepare to merge with The Stanley Works, Black & Decker is well-positioned to take advantage of the economic recovery and to achieve profitable growth.”
Business Confidence Barometer Edges Up
Business confidence among Canada's small and medium-sized businesses edged up in January, reflecting modest growth in the economy, according to the latest business confidence survey findings from the Canadian Federation of Independent Business (CFIB). Its Business Barometer index rose to 66.9 in January, up from last month's score of 63.7 and nearing levels seen in the September-to-November 2009 period. "The most optimistic owners continue to be in professional and business services, along with healthcare and education services, each with index levels above 70,” said CFIB's vice-president of research and chief economist, Ted Mallett. “On the other hand, the least optimistic business owners are in the agriculture, primary industries and restaurant, and accommodation sectors, all with index scores well below 60."
Global Countertop Growth Projected
Global demand for countertops is expected to rise 3.3 per cent annually to 341 million square meters in 2013, says a new study from research firm, The Freedonia Group, Inc. Gains will be made thanks to countries such as Brazil, China, and India continuing to build large volumes of modern housing units each year to accommodate growing populations. Homeowners upgrading from freestanding furniture to conventional countertops will also spur demand. In 2008, laminate countertops accounted for more than one-quarter of global sales. Solid surface and natural stone countertops each comprised one-fifth of global demand. And engineered stone, which is primarily used in more developed countries due to its high cost, is expected to achieve the most rapid gains through 2013.
Buying Days To Benefit Charity
The Home Improvement Industry Presidents Council has partnered with Reed Exhibitions to manage and promote all Buying Days held at the 2010 National Hardware Show. The Buying Days will benefit the City of Hope, a charitable organization devoted to achieving breakthroughs in the treatment of diabetes, HIV/AIDS, breast cancer, and leukemia. The Presidents Council says it looks forward to having companies such as Ace Hardware, Sears, Lancaster/Five Star, United Hardware, Handy Hardware, Arrett, Jensen, The Andersons, Pro Group, Pro-Build to participate again in this year’s Buying Day as well as some non-U.S. retailers. For more info on the show, visit www.nationalhardwareshow.com.
Mitsubishi Launches Forklift Line
Mitsubishi Forklift Trucks introduced its new line of mid-size Internal Combustion (IC) pneumatic tire forklift trucks. Offered in five capacities, ranging from 8,000-12,000 lbs., the trucks are designed for heavy applications, such as lumber and cement and pipe. Several new product enhancements will also be offered to customers as part of the existing Class 4 and 5 product lines. For more information, visit http://www.mit-lift.com.
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February 3, 2010
Castle Welcomes Three Locations
Castle Building Centres Group Ltd. has added three former RONA locations to their network of independent members. The member-owned buying group says the additions signify “a pivotal occasion for LBM owners who are seeking a truly independent alternative.” Among the new additions is Quincaillerie Godin in Namur, QC, owned by Lise Godin and founded in 1979. With the help of her family, Godin expanded into this 4,500 square-foot location. Matériaux Godin & Fils, in Grenville, QC, also joins Castle, and represents a 6,500 square-foot family-run store now involving three siblings. And Groupe Matériaux Godin of Hawkesbury, ON – a former Cashway store – joins the group as well. It’s a 3.5-acre property and an 11,500 square-foot store, reflecting the Godin family’s desire to reach new business and focus on contractor sales, Castle says.
DeWalt, Leafs Defensemen Team Up
DeWalt announced it has partnered with Toronto Maple Leafs Dion Phaneuf and Luke Schenn for 2010. “Our slogan is ‘Guaranteed Tough’ and like our tools, Dion and Luke will stand up to anything thrown at them,” said Brett Maves, director of marketing for DeWalt Canada. “This partnership is a natural evolution of our involvement with hockey in Canada.” Phaneuf, formerly of the Calgary Flames, is a two time NHL All-Star and was a Norris Trophy Finalist. He’s also an avid woodworker, and says he uses DeWALT tools in his workshop. Luke Schenn was named to the NHL’s 2009 All-Rookie Team and is believed by many to be a future captain of the Leafs.
Sherwin-Williams Unveils Merchandiser
Sherwin-Williams unveiled its merchandiser for new Hyde Tools paint and pressure washer products at a recent trade show in Orlando, Florida. Sherwin-Williams says its staff worked closely with Hyde Tools to customize the new merchandiser to their specific store needs. It will be introduced into 500 Sherwin-William stores in March 2010. The new merchandiser provides space for two patented technologies developed by Hyde, namely: the ‘Hyde Rapid Valve Transfer Airless Spray System’ and the ‘Hyde Pivot Nozzle Wand.’
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February 2, 2010
Consumer Confidence Hits High
The Index of Consumer Confidence was up 13.8 percentage points in January, a 23-month high according to the Conference Board's Index-January 2010. The Index now stands at 96.6 (2002 = 100). All five regions moved significantly higher, with the Western provinces leading the way. Specifically, the index reached 109.1 in B.C., thanks to a 22.2 point increase, the largest gain ever recorded for the province; 15.3 points in the Prairies to 106.8; 13.6 points in Atlantic Canada to 103; 12.3 points in Ontario to 93.7, more than doubling its Dec. 2008 level; and 9.4 points in Quebec. "The index is over 40 points higher than it was one year ago. This suggests that Canadians are seeing a light at the end of the recession tunnel," said Pedro Antunes, director, national and provincial forecast.
CHHMA Urging HRTC Extension
The CHHMA (Canadian Hardware & Housewares Manufacturers Association) announced it wrote a letter to Finance Minister Jim Flaherty on January 21, emphasizing the importance of the HRTC (Home Renovation Tax Credit) to Canada’s manufacturing industry, and urging the government to extend it for another year. CHHMA President Vaughn Crofford forwarded the letter stating that an extension would continue to boost the economy and allow the recovery to fully take hold. The CHHMA suggests that its members also write to the Finance Minister or contact their local MP “to let them know how important the HRTC is to our industry and the broader economy.”
Mounting Blocks Win Award
Broadleaf Logistics Company announced that its Accessory Mounting Blocks from SturdiBuild won the ‘2010 WRLA Most Innovative Imported Product Award.’ These accessory products, brand new to the North American market, are the only James Hardie-approved solution to “properly mount and finish outlet perforations encountered during Hardie siding and trim projects,” Broadleaf says.
Newell Rubbermaid Reports 4Q Profit
Newell Rubbermaid returned to a profit, thanks to cost cutting and higher prices for its household products. It earned $60.6 million in the fourth quarter, compared with a loss of $256.1 million in the same period a year ago. But revenue slipped one per cent to $1.42 billion, down from $1.45 billion last year, as consumers pulled back on spending, the company said. Sales also fell two per cent to $1.42 billion from $1.45 billion. The maker of Rubbermaid containers and Sharpie pens says it expects to spend as much as $80 million for ongoing restructuring.
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February 1, 2010
WRLA Elects First Female President
The Western Retail Lumber Association (WRLA) announced the election of Karen Clement as President of the Board of Directors, at the Annual General Meeting during the 2010 Prairie Showcase Buying Show & Convention. Clement is the first woman to hold the position of president in the association’s 120-year history. “We are fortunate to have someone at the helm that is so highly skilled and dedicated to the building supply industry,” says Gary Hamilton, WRLA’s executive director. In her first message to the association’s 1250 members, Clement said her priorities will be to build on WRLA’s past successes and “to place a stronger emphasis on succession planning and educating and retaining the future of our industry.”
Confidence To Drive Retailers At Show
Greater economic optimism “will no doubt be top-of-mind” for the 16,500+ retail buyers descending on the Canadian Gift & Tableware Association (CGTA) Spring Gift Show, organizers say. Consumer expectation of the economy in the next six months has hit a new high, according to a recent consumer confidence index (TNS Canadian Facts). With this in mind, the CGTA is expecting much activity as buyers, manufacturers, and distributors get together at one of the largest giftware trade events in Canada. Running from Jan. 31st to Feb. 4th, at the International Centre, Mississauga, ON, the show will feature one million square feet of exhibition space and over 1,000 exhibitors. For more information, visit www.cgta.org.
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January 29, 2010
Richelieu Posts 4Q Drop
Richelieu Hardware Ltd. posted net earnings of $30.4 million on consolidated sales of $424.4 million for fiscal year 2009, compared with net earnings of $35.6 million on consolidated sales of $441.4 million for the previous year. For its fourth-quarter ended Nov. 30, the Quebec-based company had net earnings of $9.9 million, down from $10.2 million in the comparable year-ago period. Richelieu pointed to a slowdown in the renovation industry for its fourth-quarter and full-year drop in revenues and earnings. "In view of the economic crisis that caused a decrease in residential and commercial renovation spending in the United States, Western and Central Canada, Richelieu recorded a satisfactory financial performance, although its results showed a decline," said Richard Lord, president and chief executive. The company said it continued to generate substantial cash flows while expanding its network, now comprising of 50 centres in North America.
TruServ Announces Market Dates
TruServ Canada Inc. announced its National Merchandise & Planning Markets will take place April 17-20, 2010 and October 3-5, 2010. More than 700 independent retailers have the opportunity to attend the Markets to plan their business and to coordinate their seasonal product purchases. And more than 400 major manufacturers are expected to showcase a wide selection of upcoming products for the season. For more information, visit www.truserv.ca.
Tembec Narrows Loss
Tembec Inc. had consolidated sales of $412 million for its three-month period ended December 26, 2009, down from $511 million in the comparable period a year ago. The forest products firm reported a net loss of $9 million for the quarter, compared with a net loss of $60 million in the same quarter a year earlier, which included a large after-tax loss. The company says it was able to narrow its quarterly loss, but its revenue fell more than 19 per cent because of lower lumber and pulp prices.
Moen Partner Of The Year
Moen Canada was honoured as Home Depot’s 2009 Partner of the Year Award. The plumbing products manufacturer first received the award in 1999, and 2009 marks the fifth consecutive win. The award is given annually to recognize top suppliers who demonstrated a consistent, high level of service. “This is a remarkable accomplishment for Moen Canada that speaks volumes about all our employees’ hard work and commitment,” said Peter Fealy, vice-president, sales and marketing retail, Moen Canada.
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January 28, 2010
Stanley Reports 4Q Profit
Stanley Works says it experienced a fourth-quarter profit, thanks to a $14 million tax benefit and lower operating costs offsetting a decline in revenue. The toolmaker earned $55.4 million, compared to a loss of $700,000 in the fourth quarter a year earlier. Not including expenses related to its pending acquisition of Black & Decker (announced last November), it had an adjusted profit of 89 cents per share in the latest quarter, which beat analysts’ predictions. Revenue fell 11 per cent to $969.4 million from $1.09 billion. For the entire year, Stanley's profit fell 27 per cent to $223 million, from $306.9 million in 2008.
CHHMA Conference Taking Shape
The CHHMA (Canadian Hardware and Housewares Manufacturers Association) reports that the lineup for its Spring Conference & AGM, scheduled for April 7, is taking shape. The event – being held at the International Centre, Mississauga, ON – will be focused on the theme, ‘Sell More $ More Profitably.’ The CHHMA announced this year’s conference will feature more keynote speakers, including Don Drummond, senior vice-president & chief economist, TD Bank, with his economic outlook for the Canadian, U.S., and World economies; Donald Cooper, international business speaker and business coach, on how to grow your bottom line; and Frank Turco from the Home Depot, with his insight on design trends. For more information, visit www.chhma.ca.
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January 27, 2010
Home Depot To Cut 1,000 Jobs
Home Depot Inc. announced it is cutting 1,000 jobs, closing down three pilot stores, and consolidating support positions. A small-format store in Wilson, NC; a temporary hurricane-recovery outlet in Waveland, MS; and a clearance outlet in Austell, GA will be shut down – in-turn affecting about 100 jobs. As a result of consolidating its human resources, finance, and real estate and construction functions, approximately 900 other jobs will be cut. It will be centralizing its HR department back to its Atlanta headquarters, and it will no longer needs a big staff handling real estate since store openings have slowed. "This is not a case of the company cutting expenses in reaction to broader economic pressures or our business performance," CEO Frank Blake said in a memo to employees. "Rather, we are making prudent structural changes where it makes business sense to consolidate some functions." Home Depot said it does not plan on closing any of its orange big-box stores.
Target Expansion Not For A While
Discount retail chain Target Corp. announced it is focussed on international expansion, namely through store openings in Canada, Mexico, or Latin America. But the company says it may take a while – at least three years – before international strategies take shape. "We are excited about the growth potential for Target and believe we have the capital, talent, and right blend of discipline and innovation to deliver meaningful value to our guests and shareholders," CEO Gregg Steinhafel said. For now, however, Target says it’s concentrating on U.S. expansion plans by spending $1 billion on renovating 340 existing stores this year.
Sherwin-Williams 4Q Down
The Sherwin-Williams Company’s fourth-quarter net sales dropped 5.9 per cent to $1.60 billion, compared to the same period last year. The company reported year-end net income of $435.8 million, down 8.6 per cent from $476.9 reported last year. Sales for the year were $7.09 billion, a decrease of 11.1 per cent from $7.98 billion from 2008. However, net income for the fourth quarter was at $65.3 million, up 30.2 per cent from $50.2 million in the same quarter last year. "While we are disappointed that our full year sales and earnings fell short of the prior year, we are encouraged by our earnings performance in the last half of the year…" said Christopher M. Connor, chairman and CEO. “We are beginning to see some stability in our sales to certain market segments…”
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January 26, 2010
CanWel-Broadleaf Acquisition Gets Approval
CanWel Building Materials Income Fund announced that the Canadian Commissioner of Competition issued a "no action letter" in connection with CanWel's conversion to a corporation and its proposed acquisition of Broadleaf Logistics Company. "This is a significant milestone for this transaction,” said Amar Doman, chairman of CanWel. “Now that we have received the no action letter, we will continue our focus on obtaining final court approval on January 22nd, and moving to closing on February 1st." The issuance means the Commissioner confirms that the transaction will not be challenged. Completion of the conversion and the acquisition remains subject to various conditions including receipt of a final order of the Supreme Court of British Columbia.
RONA Ready For New World
RONA unveiled Phase 2 of its 2008-2011 strategic plan, ‘the New World program,’ which outlines a focus on growth as the economy recovers. As new types of consumers arise following the recession, the program will target customer experience and succession management. The launch of the STUDIO by RONA concept and the introduction of its succession planning program, designed to attract next-generation entrepreneurs, reflect the upcoming New World program, RONA says. RONA will also look at revamping its private-label strategy and will introduce new product categories with broader appeal for next-generation consumers, along with integrated programs combining incentives, tax credits, and other loyalty programs. While the New World program entails a transition to renewed growth, Robert Dutton, president, noted that it is also striving for continuous improvement in costs and productivity. The New World program follows the company’s Phase 1 PEP program (Productivity, Efficiency and Profitability) which focused on optimization of the store network and supply chain. Dutton credited PEP for helping RONA weather the worst of the recession and for setting the stage for recovery.
Lowe’s Launches Business Program
American Express and Lowe’s have partnered and introduced a new rewards credit card for business owners. Announced in Las Vegas at the International Builders Show, it’s the first rewards program for Lowe's small business customers and will take on a tiered structure for earning points. For example, one point is earned for every eligible dollar spent; double points on dollars spent at Lowe’s; and triple points on restaurant purchases, office supplies, and wireless bills. The card also comes with no annual fee and offers business and travel-related benefits. “… This new product offers convenience and rewards at a time when business owners need it most,” said Larry D. Stone, president and COO of Lowe’s.
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January 25, 2010
Specialized Building Material Sales Up
Retail sales dropped 0.3 per cent in November to $35.2 billion, after three consecutive monthly increases, according to Statistics Canada. Without factoring in the effect of higher gasoline prices, retail sales in volume terms were down one per cent in November. Five of eight retail store sectors experienced declines in November. However, sales at furniture, home furnishings, and electronics stores had their strongest gain of 2009, with a jump of 1.1 per cent for the month; this was lead by specialized building material and garden stores (+6.5 per cent), the largest increase of this store type since Dec. 2006. Sales at home centres and hardware stores were flat. Thanks to above average temperatures affecting seasonal purchases, sales at clothing and accessories stores fell 3.6 per cent. Sales in the shoe, clothing accessories, and jewellery stores trade group were also affected by the warm weather, falling 6.8 per cent. The automotive sector fell slightly, by 0.2 per cent in November.
RONA Extends Haiti Relief
RONA announced it will continue to collect funds for the Canadian Red Cross Haiti Earthquake Fund, at all stores across Canada. The campaign, which began on Jan. 16, 2010, was originally scheduled to end on Jan. 24. Given the success of the campaign, which has so far raised over $130,000 in a few days, RONA says it will continue to keep its entire network of 700 stores working for the Canadian Red Cross until Feb. 14, 2010.
New Branding For Task Tools
Family owned and operated Task Tools introduced its new branding and packaging strategy, which is now “better for retailers, consumers, and the environment,” says president and CEO, Craig Caplan. Since 1968, the company has been associated with traditional grey packaging in North America, but now features red and black packaging, a new logo, and a new tag line: ‘Trade Proven. Task Tough.’ Better for the environment, the new packaging is 100 per cent recyclable and reduced in size. A new system of icons is meant to make it easier for shoppers to choose the right tool, and new security features aim to reduce loss due to theft.
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January 22, 2010
No Plans To Extend HRTC
Recent reports suggest that the federal government has no plans to extend the Home Renovation Tax Credit (HRTC), set to expire at the end of this month. While speaking to reporters in Miramichi, NB, Canadian Finance Minister Jim Flaherty told reporters the government intends on letting it expire as budgeted Jan. 31. "Some people are anxious to see it extended for a period of time, but it's not inexpensive and the key was to try and preserve jobs in this very difficult past year," Flaherty stated.
Energy Efficiency Driving HVAC Market
The HVAC market in the U.S. has grown 41 per cent in heating systems and 45 per cent in air conditioners from 1997 through 2006, says a recent study by research firm SBI Energy. However, the report found that the geothermal market declined in value by three per cent from 2007 to 2008, as the economy struggled. But that could rebound in 2010 given the substantial tax credits of up to 30 per cent of total cost offered through the American Reinvestment and Recovery Act (ARRA) of 2009. Another development that will impact the growth of the HVAC industry is the phasing out of ozone-depleting used as refrigerants in older air conditioners. The U.S. will begin phasing out the use of the R-22 hydrochlorofluorocarbon (HCFC) refrigerant as of January 1, 2010. New equipment will be required to use the alternative R-410A refrigerant instead, which will mean new business for installers and HVAC equipment manufacturers.
GE Forms Lighting Group
GE Lighting announced it has established GE Lighting Solutions, by combining it’s light emitting diode (LED) systems operations, Lumination, and its commercial and industrial fixture group, GE Lighting Systems. The new group will be a unit of GE Appliances & Lighting and its president and CEO will be David Elien, previously of Lumination. Paul Morse, former president of GE Lighting Systems will lead the Solutions commercial efforts as vice-president.
Walmart Promises Zero-Waste Summit
Walmart Canada announced that its Green Business Summit, to be held in Vancouver on February 10, 2010, will be a zero waste event and powered 100 per cent by renewable energy. It expects to divert 95 per cent of the Summit's waste through a variety of efforts including the use of recycled and easily recyclable products, the composting of organic materials, and multi-stream recycling bins. Bullfrog Power, a Canadian provider of low-impact renewable electricity, will power the event. For more information, visit www.walmartgreenbusinesssummit.com.
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January 21, 2010
Women Value Home Ownership
Home ownership is increasingly important to Canadian women, according to the third annual TD Canada Trust Women and Home Ownership Poll. The study, which surveyed women who have purchased a home independently, asked to describe the best things about home ownership. Among the responses that increased dramatically from the first survey conducted in 2008, 34 per cent said having a place of their own, 34 per cent said being able to decorate or renovate the way they want, and 32 per cent said having a backyard or garden. This year, 44 per cent ranked financial security as the best thing about home ownership, compared to 23 per cent of a similar sample in 2008. Second on the list of best things about ownership, was not having to pay rent or pay other people (38 per cent versus 13 per cent in 2008).
Home Depot Multicultural Marketing
The Home Depot Canada introduced its first multicultural marketing campaign, meant to connect with Cantonese-speaking consumers in Richmond, B.C. Running until February 14th, the campaign will include advertising and in-store events in Cantonese to help consumers get their homes ready for the Chinese New Year. “By reaching out to a group of consumers that we haven’t directly communicated with before, and doing so in their native language, we hope to build strong relationships…” said Peg Hunter, vice-president of marketing and communications. The company designed the campaign in partnership with its media partner, Publicis Diversitē.
Straus To Speak At Breakfast
The Canadian Hardware and Housewares Manufacturers Association (CHHMA) announced that Paul Straus, vice-president and CEO, Home Hardware Stores Limited, will be the speaker at its members breakfast meeting, Tuesday, April 27th. The meeting will take place at the International Centre Conference Facility, 6900 Airport Road, Mississauga, ON. For more information, visit www.chhma.ca.
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January 20, 2010
Leading Indicators Reach High
The composite leading index was up 1.5 per cent in December, marking a seventh straight increase and the biggest monthly rise in almost 27 years, says Statistics Canada. For a second straight month, none of the 10 components fell, as household spending and the stock market experienced the largest gains. The housing index grew three per cent for the eighth consecutive time. Existing home sales led the initial upturn and was followed by a recovery in housing starts. Consumers, as well, purchased more durable goods. In response to rising U.S. demand, Canada's export volumes rose 11 per cent since the low in May 2009. The growth in export demand was reflected in higher new orders for manufactured goods in Canada, as manufacturing sales volume increased for a second straight month.
Green Summit Participants Announced
Walmart Canada released the participant list for its Green Business Summit, February 10, 2010 in Vancouver. The event – bringing together upwards of 300 CEOs, business executives, government officials, and NGOs – will include leaders from 3M, Alcan Packaging, Cadbury, Canadian Tire, CN Rail, Coca-Cola, and others. As well, Dr. David Suzuki will provide the keynote address. These industry leaders will collaborate on topics such as energy, waste & material management, green products & solutions, and employee green engagement. For more information, visit www.walmartgreenbusinesssummit.com.
CertainTeed Offers Sneak Peek
CertainTeed announced it will be offering a sneak peek of seven new products, incorporating “sustainable attributes with mainstream appeal,” at the upcoming International Builders’ Show in Las Vegas, Jan. 19-22. The two new products headlining the show include EnerGen, a photovoltaic roofing panel for residential applications, and Sustainable Insulation, a new fiberglass insulation product that meets strict indoor air quality requirements. For more on the builders' show, visit www.buildersshow.com.
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January 19, 2010
Home Décor Company Launches In Canada
Home décor manufacturer, Uppercase Living, is expanding its product offering and business opportunity to Canada. The producer of customized vinyl expressions, purchased out of catalogs via in-home product demonstration, says it has helped thousands of women start their own home businesses in the U.S., and now hopes to offer similar opportunities to women in Canada starting February 1. "For years we've had women in Canada asking to be a part of Uppercase Living," said Rich Fankhauser, president. "And now it's possible.” As a direct sales company, it relies almost entirely on demonstrators to sell its products through home parties. While some women work only part time and make a couple of thousand dollars a year, others have turned selling opportunities into larger, successful businesses.
RONA, Red Cross Partner For Haiti
RONA Inc. has joined forces with the Canadian Red Cross to bring relief to earthquake victims in Haiti. As a partner, RONA is appealing to the generosity of Canadians and its own employees for help. Donations can be made at the cash in all RONA, Réno-Dépôt, and TOTEM stores across the country. “The tragic events in Haiti have touched us all,” said president and CEO Robert Dutton. “I urge all RONA customers to join us in a nationwide show of support for the people of Haiti by giving generously.”
Black & Decker Celebrating 100th
To celebrate its 100-year anniversary, Black & Decker has launched an interactive microsite (www.blackanddecker100years.com), that will take a look back at the history of the company, share memories of employees, and allow visitors to share their experiences with Black & Decker products. The company also announced it will soon unveil a new centennial logo chosen in a design contest among company employees. "Black & Decker – through a focus on customer needs and innovation – has become a part of the American landscape," says Bruce Brooks, president of the consumer products group for Black & Decker. During the last 100 years, the company has evolved from a small machine shop in Baltimore, Maryland to a global manufacturing force, and is now in the process of expanding its reach further through a merger agreement with The Stanley Works (announced Nov. 4, 2009).
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January 18, 2010
Retailers Supporting Haiti Relief
Canadian home improvement retailers are encouraging the support of relief efforts after an immense earthquake struck the island of Haiti. Home Hardware Stores Limited announced it would donate $25,000 to the Mennonite Central Committee (MCC) for the Haitian earthquake relief. The donation is in remembrance of the more than 50,000 people who have lost their lives in Haiti and in recognition of the humanitarian work of Yvonne Martin, an Elmira, ON nurse on her fourth medical mission to the country and the first confirmed Canadian casualty of the earthquake. As well, Canadian Tire is sending tents, sleeping bags, flashlights, and batteries to thousands in need in Haiti as part of its support of Canadian charity ONEXONE (www.onexone.org) that is coordinating a number of lead Canadian companies in their donations. And Lowe’s Companies Canada, ULC announced that all 16 Canadian stores will serve as cash donation sites for the Canadian Red Cross to support earthquake relief in Haiti.
Dangerous DIY Books Recalled
More than 52,000 copies of home improvement books solid in Canada are being recalled, because they contain incorrect electrical procedures. U.S. publisher Oxmoor House Inc. announced that the instructional errors could lead to "electrical shock or fire hazard." No reports of incidents or injuries have been reported, but some of the books have been in circulation for more than 30 years. Lowe’s Canada has sold three of the books, Rona did carry one of the recalled books, and Home Depot confirmed none of the books were sold at its stores. The books being recalled are, AmeriSpec Home Repair Handbook, Lowe's Complete Home Improvement and Repair, Lowe's Complete Home Wiring, Sunset Basic Home Repairs, Sunset Complete Home Wiring, Sunset Complete Patio Book, Sunset Home Repair Handbook, Sunset Water Gardens, and Sunset You Can Build — Wiring.
Porch Screening Expands
Screen Tight announced it is expanding its line of extruded aluminium porch screening systems with the addition of an ultra low profile system. The 20-year-old producer of outdoor screen security says the new systems are ideal for second floor or higher porch applications. The MINItrack system will be on display at the International Builders’ Show in Las Vegas, Nevada, Jan. 19-22, 2010, booth number C5077.
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January 15, 2010
Economic Growth At Risk
Record low interest rates and stimulus packages are expected to drive growth in the Canadian and global economies during the first half of 2010, says a report from CIBC World Markets Inc. However, the economy may return to sluggish growth in the second half of the year and into 2011 if governments hold back stimulus, and as U.S. consumers continue to deleverage. Avery Shenfeld, chief economist, says the drivers of growth in early 2010, such as stimulus spending, inventory restocking and, in Canada at least, a short-lived boost in housing wealth, are all temporary and will disappear by the end of the year. Canadian manufacturing and resources will benefit from the surge in global growth, Shenfeld says, and inventory rebuilding in the first half of 2010 but will in turn feel the combined pinch of decelerating foreign demand and an overvalued Canadian dollar.
ILDC Adds Member
Family-owned Lefebvre & Benoit is now a member of the Independent Lumber Dealers Co-operative (ILDC). Founded in 1958, the Laval, QC dealer has grown to include two locations when it took over Marcel Benoit in 1985. Today, Lefebvre & Benoit is supported by 250 staff, and maintains a strong business with contractors and builders.
KBIS Show Aims To Inspire
The theme for this year’s Kitchen & Bath Industry Show (KBIS) show is “be inspired,” which aims to stimulate professionals as economies work their way out of recession. “We’re trying to stress that the fundamentals of the kitchen and bath industry are still very strong and there’s a bright future ahead…” said Brian Pagel, vice-president of the Kitchen and Bath Group at Nielsen Business Media. Highlights of the 47th annual show – being held at McCormick Place in Chicago on April 16-18, 2010 – include the Design Idea Center and Center Stage, housed within the NKBA’s 13,000-square-foot booth. The keynote speaker will be Sergio Zyman, a 30-year marketing guru who plans on discussing self-marketing and improved sales strategies. For more information, visit http://www.kbis.com.
Sears Welcomes Third Parties Online
Sears’ launch of its online marketplace will include third-party sellers, including goods from J.C. Penney Co., Dillard's, and other department stores and direct competitors. Multiple sellers of the same item will be allowed on the site, even if Sears sells a similar item. The move follows similar initiatives by Wal-Mart Stores Inc. after price wars over books with Amazon.com Inc. The retailer will charge retailers $39.99/month plus seven-20 per cent in commissions to sell on its site, along with extra fees to use its optional fulfillment service. Sears offers a CPC advertising program that costs between 15 and 90 cents per click.
Kitchen & Bath Trends Revealed
The results of a recent survey of designers conducted by the National Kitchen & Bath Association (NKBA) confirm a number of existing trends and have uncovered some style shifts too. Among the findings for kitchens, traditional will continue as the most popular style, while contemporary remains close behind and Shaker experiences a strong resurgence. Shades of whites and off-whites will be the most common kitchen colours, while brown, beige, and bone hues will also be popular. Cherry will remain the most popular wood for kitchen cabinetry, followed closely by maple. For countertops, granite continues to be the most popular, but quartz is expected to catch up. For backsplashes, ceramic or porcelain tile and glass will serve as primary materials. As for bathrooms, traditional will be the most popular style, while contemporary remains a distant second. Beiges and bones will be the most common colours used, and ceramic and porcelain will be the dominant flooring materials this year. The most common colour for bathroom fixtures will be white. For sinks, simple undermount models will be most popular, followed by integrated sink tops, drop-in sinks, vessel sinks, and pedestal sinks. Faucet finishes in the bathroom are similar to those used in current kitchen designs, with brushed nickel continuing to lead the way in 2010.
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January 14, 2010
CEO Confidence Climbs
The Conference Board Measure of CEO Confidence increased to 64 in the fourth quarter of 2009, up from 63 in the previous quarter (a reading of more than 50 points reflects more positive than negative responses). The figure stood at 24 one year ago, and this quarter’s increase represents the fourth consecutive rise. Regarding their own industries, business leaders’ attitudes remained essentially unchanged, as 54 per cent claimed conditions are better, compared with 55 per cent last quarter. As well, the Conference Board found that the majority of CEOs expect changes in their firms’ selling prices in 2010. On average, firms plan to hike prices by 1.6 per cent, higher than last year’s expectation of 1 per cent. Only five per cent anticipate price increases in excess of 10 per cent. About 15 per cent plan to decrease prices, and 29 per cent expect no change.
Home Depot Changes Self-Checkout
The Home Depot announced it would transition to Fujitsu U-Scan self-checkout software in their U.S. and Canadian retail stores. The new self-checkout software features open integration architecture that utilizes a VPOS (Virtual Point-of-Sale) messaging framework, allowing retailers to implement business critical POS software changes faster, the companies says. The system also allows retailers to avoid costly and complicated self-checkout re-integration and lengthy testing cycles, Fujitsu says. The Home Depot is currently completing initial proof of concept pilot testing.
Agrium Expands Retail Presence
Calgary-based Agrium, a supplier of agricultural products, announced it is moving into the Canadian retail market. The company plans on opening 33 new stores in Alberta and Saskatchewan, which will be branded under the Crop Production Services (Canada) Inc. name. It bought the remaining crop nutrient assets, which it did not previously own, from five Engro franchises, with 27 locations in southern and central Alberta and six locations in southern Saskatchewan. The outlets have a combined annual revenue of US$162 million. Agrium has acquired more than 60 U.S. and Canadian farm centres in the past six months, and most recently bought 24 outlets in Texas and New Mexico from Agriliance.
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January 13, 2010
Home Hardware Applauds Torch Run
Bruce White, Home Hardware Stores’ vice-president, merchandise & marketing – Lumber and Building Materials, became one of 12,000 Canadians to carry the Olympic Torch on its coast-to-coast relay. On Friday, December 18th, White, along with members of the Lumber and Building Material team, braved the cold on Day 49 of the Torch Relay. White carried the Torch down Parliament Street in Toronto as hundreds of spectators looked on. “On behalf of more than 1,000 Home Hardware Dealers from coast-to-coast, I would like to congratulate Bruce on his run with the torch,” said Paul Straus, vice-president and CEO, Home Hardware. “I’m truly proud to know a member of the Home Hardware family was a part of this remarkable event.” White was nominated to be a torchbearer by Sam Yee of Dow, a long-standing vendor-partner.
Bruce White, Home Hardware Stores’ vice-president, merchandise & marketing
Moen Promotes Wyman
Moen Canada has promoted Andrew Wyman to the position of regional sales manager, Wholesale. In his new role, Wyman will oversee and execute strategies to develop and expand the wholesale plumbing market, as well as builder, plumber, and designer relationships. Wyman will also work with the wholesale sales force to grow the business nationally. He most recently served as senior territory manager, where he successfully managed and implemented the launch of Moen Commercial products in Canada.
TruServ Looking Forward To Show
TruServ Canada announced that it is pleased to be participating in the Western Retail Lumber Association's (WRLA) Prairie Showcase, January 20-22, in Saskatoon, SK. Several members of the TruServ Canada team will be available in booth #716. "We attended our first show in 1992," said Dave Leonzio, national business development manager for TruServ Canada. "This year, we have several offers that are well suited for the dealers attending the show. The last three years attending the WRLA we have been talking to Dealers about the Western advantage that TruServ Canada offers.”
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January 12, 2010
Building Permit Value Drops
Contractors took out $5.9 billion in building permits in November, says Statistics Canada, down 4.6 per cent from October, but 23.1 per cent higher than November 2008 and 62.8 per cent above February 2009, when the lowest value during the economic downturn was recorded. Yet, November's value remained below values recorded in 2007 and early 2008. Decreases in the non-residential sector, which outweighed increases in the residential sector, were behind the decline in November. In the residential sector, construction intentions – which have started to approach their pre-downturn levels – grew 9.1 per cent to $3.8 billion in November, a fourth consecutive monthly increase. Ontario and B.C. made up most of the gains at the national level. In the non-residential sector, municipalities issued $2.1 billion worth of permits in November, down 21.9 per cent from October. These decreases were mainly the result of declines in Alberta, Saskatchewan, and Quebec.
Canadian Tire Adds Storage To Site
Canadian Tire launched an interactive storage and organization website page (www.canadiantire.ca/storageandorg), meant to provide affordable solutions for the kitchen, garage, closet, laundry, and basement. The company says the page is easy to navigate and features a zoom-in tool to view storage solutions up close. A special addition will allow customers to submit questions, from now until February 4th, to Clare Kumar, a professional organizer who has appeared as an expert on TV and in home décor magazines.
Construction Emerging Unscathed
Canada's construction industry is coming out of the recession “relatively unscathed,” says the Construction Sector Council's (CSC) 2010-2018 scenario-based forecast. A preview of the forecast finds that although building and employment decreased from October 2008 to July 2009, employment has been rising since August. This will likely continue because of new infrastructure projects, renovation and maintenance work, and strengthening housing starts. The preview shows that Ontario, Alberta, and B.C. had the greatest decrease in employment in 2009. At the same time -- driven by major industrial, engineering, and infrastructure projects -- Saskatchewan and Newfoundland and Labrador recorded employment gains over the first 10 months of 2009. Construction investment declined by less than 10 percent in 2009 and will rebound in 2010, surpassing the peak reached in 2008, the forecast predicts.
Retail Logistics Solution Unveiled
Descartes Systems Group unveiled its latest ‘Logistics Solutions for Retail,’ a suite of applications created to address the needs of the retail market. Announced at the NRF (National Retail Federation) 99th Annual Convention & EXPO Convention in New York, Descartes says its new Logistics Solutions will enable retailers to cut costs, streamline their logistics operations, and improve in-store availability and last-mile delivery reliability. For more info, visit http://www.descartes.com.
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January 11, 2010
December Housing Starts Up
The seasonally adjusted annual rate of housing starts hit 174,500 units in December 2009, according to the Canada Mortgage and Housing Corporation (CMHC). The figure represents an increase from November's rate of 164,800 units. The annual rate of urban starts increased by 6.6 per cent to 157,100 units in December – an increase from 72,800 units in November to 77,700 units in December. Single urban starts increased by 6.4 per cent to 79,400 units in December. December's rate of urban starts increased by 17.8 per cent in Quebec, by 15 per cent in Atlantic Canada, by 8.7 per cent in B.C., and by 2.9 per cent in Ontario. The rate of urban starts decreased by 3.8 per cent in the Prairies. Rural starts were estimated at a seasonally adjusted annual rate of 17,400 units in December. Actual housing starts for 2009 are being verified and will be reported soon. They are expected to be lower due to low monthly rates earlier in the year.
Alpa News Correction
Home Improvement Retailing would like to correct a recent News Alert reporting the Alpa Lumber Group had announced its business was for sale. Alpa has confirmed with Home Improvement Retailing that it did not make that announcement and that the business is not for sale.
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January 8, 2010
Castle Welcomes New Members
Five new retail, commercial, and specialty members – representing seven locations – have joined the Castle Building Centres / CBS network of independent dealers, announced Ken Jenkins, president. The five include: Meetah Building Supplies (Onion Lake, SK), consisting of a retail showroom, a 12,000-square-foot enclosed warehouse, and a two acre lumberyard; Superior Seamless Exteriors (Southern Manitoba), with three locations in Altona, Winkler, and Winnipeg, which manufactures steel and steel log siding and specializes in exterior building envelope products; Boulons L.P.G. (Sept Iles, QC), which focuses on specialized hardware and high quality tools for the area mines; London Panel Corp (London, ON), specializing in the engineering and construction of factory panelized wall and floor units for commercial and institutional buildings; Fairway Building Supplies (Ancaster, ON), specializing in the supply and service of building material products to the commercial and residential construction industry.
The Brick’s 4Q Improves
The Brick Group’s fourth quarter total retail sales improved, with a decline of 1.9 per cent compared with declines of 18.7 per cent, 29.3 per cent, and 13.8 per cent in the first, second, and third quarters respectively, of 2009. In the retail segment, fourth quarter same store sales decline over the comparable period in 2008 was 7.3 per cent compared with declines of 21.9 per cent, 33 per cent, and 19 per cent in the first, second, and third quarters respectively, of 2009.
Bed Bath & Beyond Sales Up
Bed Bath & Beyond Inc.’s net sales for the fiscal third quarter of 2009 were approximately $1.975 billion, an increase of approximately 10.8 per cent from net sales of approximately $1.783 billion reported in the fiscal third quarter of 2008. Comparable store sales for 3Q 2009 increased by approximately 7.3 per cent, compared with a decrease of approximately 5.6 per cent in last year's third quarter. As of November 28, 2009, the company had a total of 1,083 stores, including 958 Bed Bath & Beyond stores in 49 U.S. states, Canada, the District of Columbia, and Puerto Rico.
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January 7, 2010
Decorative Tile Demand Rising
Demand for decorative tile in the U.S. is expected to increase 4.4 per cent per year to 3.3 billion square feet in 2013, says a new study from The Freedonia Group, Inc. The study (‘Decorative Tile’) found that flooring applications represented 81 per cent of total tile demand in 2008, and will continue to drive demand for decorative tile, as consumer preferences shift away from carpets and rugs. Flooring demand for tile is expected to increase 4.5 per cent annually through 2013 to 2.7 billion square feet. As housing completions rebound and consumer spending on projects increases, the residential market will provide the most demand. Porcelain and natural stone tiles will account for the fastest gains of all tile types through 2013. Demand for porcelain tile will be driven by its aesthetic advantages and its durability over ceramic. Demand for natural stone tiles will be spurred by interest for stone surfaces in mid-range and high-end residences. However, ceramic tile will continue to account for the vast majority of tile demand in both value and area terms through 2013, primarily due to its low cost.
Pricing Strategy Can Improve Sales
Retailers can substantially improve sales and profits if they increase the price of a sale item to its original cost in gradual steps rather than in one swift move, according to new research out of the University of Miami School of Business Administration. A 30-week field study showed a 200 per cent increase in sales and a 55 per cent increase in profits by using this strategy, coined ‘Steadily Decreasing Discounting’ or ‘SDD’ by the researchers. SDD was tested against Everyday Low Pricing (EDLP), used by discount stores such as Wal-Mart, and Hi-Lo Pricing, used by stores offering significant discounts on selected items for a limited time. The research found that SDD is more effective than EDLP and Hi-Lo pricing for two primary reasons. First, consumers not only consider past prices, they also forecast what prices will be in the future. So when buyers see a trend of increasing prices, they forecast higher future prices and are more apt to make a purchase today. Second, buyers have been shown to anticipate feeling regret after they miss a sale, so if they expect prices to increase, then they are more likely to make a purchase to avoid the feeling of regret in the future.
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January 6, 2010
IRLY Selects Director
IRLY Distributors has appointed Grant Harris to director of supply chain. Harris’ new responsibilities will include warehouse operations, transportation, and distribution, together with leading several projects. Previously, Grant was the director of logistics with BC Hot House Foods for several years and, more recently, the distribution manager with Purdy's Chocolates.
IDEAL Makes Acquisition
IDEAL Industries Inc. – a manufacturer of connectors, testers, tools, and supplies – announced it will acquire privately held Western Forge, a Colorado Springs-based manufacturer of pliers, screwdrivers, and adjustable wrenches. The company, which will continue to be known as Western Forge, will become a wholly owned subsidiary of IDEAL. Randy Thompson, a 22-year veteran of IDEAL, has been named general manager for Western Forge.
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January 5, 2010
Canadians Cautiously Optimistic
Closing out the year, consumers were less likely to delay major purchases and their job anxiety fell significantly, according to the RBC Canadian Consumer Outlook Index, which rose eight percentage points in December. As the new year begins, however, most Canadians are exercising financial prudence, with 75 per cent paying for their holiday spending with money on hand instead of incurring debt and most (58 per cent) not planning to shop for post-holiday deals in January. Based on the results of the online survey, conducted by Ipsos Reid in December 2009, the index found that 60 per cent expect the Canadian economy to improve over the next year, while only 17 per cent expect it to worsen. This optimism was also reflected in a significant drop in the percentage of Canadians who plan to delay major purchases, such as cars, vacations and appliances, due to current economic conditions (47 per cent in December versus 63 per cent in November).
IRLY Manager Wins Award
Shannon Cupskey, account manager for IRLY Distributors Ltd., has won the Greater Vancouver Home Builders Association’s (GVHBA) Rooftopper Award. The prize is awarded to the member who brings in the most new members in a fiscal year. It’s the second time Cupskey has won the award, and she is the first and only woman to be honoured. Her networking skills have helped fuel the association’s 660-person membership, IRLY says.
Sexton Celebrating 25th
The Sexton Group announced it is celebrating its 25th anniversary in 2010, as one of Canada’s leading national buying groups. Since being founded by Ontario native Ken Sexton in 1985, the group has remained “true to its values and its focus to improve the strength of the independent entrepreneur,” it says. Through this commitment over the years, the Sexton Group has grown to represent more than 270 member locations across Canada, including the addition of more than 30 members in 2008 and 2009.
Conference To Address Dealer Issues
The Second Annual Johns Manville Hardlines Dealer Conference will be held in association with the 2010 Canadian Home Improvement Show February 11, 12, at the Toronto Congress Centre. The conference is meant to help dealers sell smarter through two informative mornings. Keynote speakers and breakout sessions will cover a range of topics, such as understanding the business climate of today’s tough economy, the latest technology to run business better, staff training and retention, and inventory and financial management. For more information, visit http://www.canadianhomeimprovementshow.com/hardlines.php.
Frishman Speaks At Conference
Zev Frishman, vice-president, global equity strategies, at the Ontario Teachers’ Pension is the keynote luncheon speaker for the ‘4th Annual Alternative Investments for Institutional Investors Conference.’ He has 30 years of experience in the investment management field and has been a member of Teachers' investment team since 1994. In his current role, he leads a team of investment professionals that oversees its external active equity managers, develops and manages in-house global equity portfolios, and manages the overall exposures of the public equities department. In total, the team is responsible for more than $8 billion in global equity exposure. The Benefits and Pensions Monitor/Mindpath Financial Conferences takes place February 22. For more information, visit http://www.mindpath.ca/conferences_events.html.
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