Oct. 7, 2022
Richelieu Achieves Strong Sales
Richelieu had consolidated sales of $472.9 million for the third quarter of 2022, an increase of 26.7 per cent compared to consolidated sales of $373.3 million in the third quarter of 2021. The company achieved sales of $409.6 million in the manufacturers market compared to $313.5 million in the year-ago period, an increase of 30.7 per cent. Sales to hardware retailers and renovation superstores were $63.3 million, up 5.9 per cent over the year-ago period. In Canada, Richelieu had sales of $279.6 million, an increase of 14.8 per cent year over year. In Canada, sales to manufacturers amounted to $228 million, up 15.7 per cent year over year. Sales to hardware retailers and renovation superstores reached $51.6 million, up 11.2 per cent. Sales in the U.S. were up 43.7 per cent over the prior-year period. Overall earnings before taxes were $79.2 million, up 23.8 per cent year over year, with its gross margin at 16.7 per cent compared to 17.1 in the third quarter of 2021.