CHHMA - EYE ON OUR INDUSTRY
Volume 11, Issue 09, March 03, 2011



Association News

2011 Spring Conference & AGM: "Boom, Bust & Bounce Back"
 
One of the keynote presentations, by Professor Robert Kozinets, will address Social Media Marketing for the Hardware and Housewares Industry.  Read More >>
  
Maple Leaf Night Sponsorship 
 
Maple Leaf Night is taking place this year on the evening of Tuesday, May 10th at the Mirage Hotel & Casino in Las Vegas. This popular social event is open to CHHMA members and Canadian customers in town for the National Hardware Show (May 10-12).  Member companies who sponsor Maple Leaf Night are entitled to corporate identification on all tickets, letterheads and event signage. It also entitles your company to one complimentary ticket for the host who will participate in the receiving line and two additional complimentary sponsor tickets. Additional sponsor tickets can also be purchased for a reduced price of $95 CDN.  Read More >>
 
CHHMA Scholarship Program

The CHHMA is once again pleased to be able to offer the opportunity for children of employees of our member companies to apply for a scholarship to help offset the cost of post-secondary education.  Five to seven scholarships are awarded each year. Successful candidates receive $1,000 CDN per year for the first two years of study leading to a diploma or degree from an accredited community college or university.  Read More >>
 
Industry News

RONA Fourth Quarter and Full Year Results 

RONA inc. reported last Thursday that net earnings fell 28.1% to $22.2 million or 17 cents per share for the fourth quarter ended December 26, 2010, a decrease from $30.8 million, or 24 cents a share, a year ago. Consolidated sales for the quarter were down 0.4% at $1.14 billion, a drop of $4.4 million from the same quarter last year. Same-store sales were down 6.4% for the quarter.  Read More >>
  
Sears Canada Fourth Quarter and Full Year Results   
 
Sears Canada Inc. reported last Wednesday a 28% drop in earnings for the fourth quarter ended January 29, 2011. Net earnings were $92.2 million or 87 cents per share versus $128.2 million or $1.19 per share for the same quarter a year ago. Revenues for the quarter were $1.477 billion compared to $1.525 billion last year, a decrease of 3.2%. Same-store sales decreased 3.3%.  Read More >>
 
Economic News

Bank of Canada Holds Benchmark Rate

As expected, the Bank of Canada kept its benchmark rate unchanged at 1% Tuesday. The central bank said the economy is growing at a slightly faster pace than expected as signs emerge of a recovery in exports, but gave no hint it was ready to resume hiking interest rates. Economists speculate that the bank is waiting for evidence that U.S. economic performance is strong and steady enough to ensure that Canadian exports will contribute to economic growth regardless of the level of the loonie.  Read More >>
  
Canada's Fourth Quarter Growth Tops Forecasts

On Monday, Statistics Canada reported that Canada's real GDP grew at an annualized 3.3% rate in the fourth quarter of 2010, after a revised 1.8% expansion (up from 1%) in the third quarter.  Canada's GDP rose 0.5% in December from November, also topping expectations.  Economists had expected quarterly growth of 3% and December expansion of 0.3%.  For all of 2010, the Canadian economy grew 3.1% after a 2.5% contraction in 2009.  Read More >>   
    
2011 Retail Sales Outlook for Canada

Retail sales will rise 5.1% in 2011, the same as in 2010, according to a study by retail consultancy Kubas Primedia released on Monday.  Read More >>   
  
U.S. Fourth Quarter Growth Revised Down

The Commerce Department reported last Friday that the U.S. economy grew at an annual rate of 2.8% in the final quarter of 2010, revised down from an initial estimate of 3.2%.  Read More >>

  
U.S. Construction Spending, New Home Sales Fall in January 

On Tuesday, the Commerce Department reported that U.S. construction spending fell 0.7% in January to an annual rate of $791.82 billion, which was more than expected and the lowest since August.  Read More>> 
 

 CHHMA Events For 2011

Canada Night
Sunday, March 6
InterContinental Hotel, Chicago, Illinois

Spring Conference & Annual General Meeting
Tuesday, April 5
International Centre, Mississauga, Ontario

Maple Leaf Night
Tuesday, May 10
The Mirage Hotel & Casino, Las Vegas, Nevada

Quebec Golf Tournament
Tuesday, May 17
Le Fontainebleau Golf Club, Blainville, Quebec

Ontario Golf Tournament
Wednesday, May 25
Angus Glen Golf Club, Markham, Ontario

Night at the Races
Wednesday, June 15
Woodbine Racetrack, Toronto, Ontario

Industry Memorial Golf Classic
Tuesday, September 27
Blue Springs Golf Club, Acton, Ontario

To register for all events visit our website at www.chhma.ca or call Pam Winter at (416) 282-0022 ext.21.

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"Eye On Our Industry" is published by the CHHMA as an information resource for our members. Member input regarding content and format is welcomed. Please contact Michael Jorgenson by email: mjorgenson@chhma.ca, or call at (416) 282-0022, ext. 34. CHHMA is located at 1335 Morningside Ave., Suite 101, Scarborough, ON, M1B 5M4 www.chhma.ca