CHHMA - EYE ON OUR INDUSTRY
Volume 11, Issue 18, May 12, 2011


Industry News

Canadian Tire to Acquire Forzani Group  
     
Canadian Tire Corporation, Limited announced on Monday that it has entered into a friendly agreement to acquire all the outstanding shares of The Forzani Group Ltd. for $26.50 per share in cash. The deal is worth $771 million, and "will establish Canadian Tire as Canada's ultimate authority in sports, with more than 1,000 combined retail sports outlets across the country," the company said in a statement.  Forzani has 534 stores and 16% of the sporting goods market in Canada with annual sales of $1.4 billion. It runs chains under 12 banners including: Sport Chek, Sport Mart, Atmosphere, National Sports, Sports Expert, Athletes World, Hockey Experts, Intersport, Nevada Bob's Golf, S3, Fitness Source and The Tech Shop.  Read More >>
  

RONA Posts First Quarter Loss

On Tuesday, RONA inc. reported its first quarter results for the 13 week period ended March 27, 2011. The company lost $16.8 million, or $0.13 a share, in the first quarter, compared to a profit of $3 million, or $0.02 a share, a year ago. Compared to the first quarter of 2010, revenue decreased 4.0%, or $38.7 million, to $918.2 million, and same-store sales were down 12.6%. Operating losses of $19.6 million compared to an operating profit of $8.2 million a year earlier.  "Very unfavourable weather conditions, fragile consumer confidence, and a lack of tax-credit-driven market stimulation, items out of our control, were all factors that significantly impacted our first quarter results," said Robert Dutton, President and CEO of RONA.  Read More >>
        

Canadian Home Improvement Show Moving to November 
 
The Canadian Home Improvement Show is moving from its traditional February time slot to November 17-18, 2011. The show, owned by the Lumber and Building Materials Dealers Association of Ontario, will once again be held at the Toronto Congress Centre. The organizers decided to move the show dates to November in order to provide a better time frame for dealers wishing to place orders for commodities and LBM.  In addition, the show will have an expanded product focus including: paint and sundry; lawn and garden; window and door; decking, fencing and siding; kitchen and bath; and flooring.  For further information, contact 1-866-535-0520 or visit: http://www.canadianhomeimprovementshow.com.
 

Stewardship News

Blue Box Fee Consultation Meeting To Take Place on May 26 

Stewardship Ontario would like to invite Blue Box program stewards to participate in a consultation session to review the fee setting methodology on May 26, 2011.  More information on how to register and briefing notes etc. will be made available soon.
        

Association News 

Registration Now Open for Night at the Races 
  
The 15th Annual CHHMA Night at the Races is taking place on Wednesday, June 15th at the Woodbine Racetrack in Toronto. This year's event will be held in the Favourites Dining Room, which offers a great view of the track and an excellent buffet dinner. Click here for further details or to register. 
     

CHHMA GO KART Night Set for September 1st in Mirabel, Quebec  

Do you have thoughts of becoming a future F1 World Champion? Here's your chance then to put your racing skills to the test at the CHHMA Soiree Karting/Go Kart Night in Mirabel, Quebec on Thursday,September 1st.  The event will be held at the Circuit ICAR motorsports complex  located 20 minutes north of Montreal.  Read More >>


Jean-Luc Meunier Breakfast Seminar on May 31, 2011 

The CHHMA is pleased to be presenting Mr. Jean-Luc Meunier, Sr. Vice-President, Affiliate Dealer-Owner Network Development, RONA inc. at an upcoming breakfast seminar in Boucherville, Quebec on Tuesday, May 31. The breakfast seminar will take place at the Hotel Mortagne, 1228 Rue Nobel, Boucherville, QC J4B 5H1 with registration starting at 7:30 a.m. followed by breakfast and the presentation from 8:00 a.m. to 10:00 a.m.  The cost to attend is $65 for CHHMA members, $85 for non-members.  Register now.
 

Register Soon for CHHMA Golf Tournaments  

Register soon before the spots are filled up for the following CHHMA golf tournaments: Quebec Golf Classic (May 17 at Le Club de golf Le Fontainebleau), Ontario Golf Tournament (May 25 at the Angus Glen Golf Club) or Western Golf Tournament (June 7 at the Morgan Creek Golf Club, Surrey, B.C.).  Read More >> 
       
Economic News

Housing Starts Unexpectedly Fall in April 

The Canada Mortgage and Housing Corporation (CMHC) reported on Monday that the seasonally adjusted annual rate of housing starts fell 3.1% to 179,000 units in April from 184,700 units in March.  April's decline was due primarily to deceases in multiple construction across the country, particularly in Ontario and Quebec, and in rural starts.  Read More >>
 

CREA Updates Resale Housing Forecast 

Unexpectedly strong sales in British Columbia in the first quarter have forced the Canadian Real Estate Association (CREA) to adjust its forecast for 2011. On Monday, CREA said national sales activity is now expected to reach 441,000 units in 2011, a decline of 1.3% from 2010, but up slightly from its previous forecast in February of a 1.6% drop. By 2012, CREA is predicting a rebound with sales climbing 2.6% to 452,500 units. This is little changed from the previous forecast, and stands roughly in line with the ten year annual average.  Read More >>


Building Permits Surge 17.2% in March

Statistics Canada reported last Thursday that municipalities issued $6.8 billion in building permits in March, up 17.2% from February's level and 9.7% higher than March 2010. Most of the increase came from the residential and non-residential sectors in Ontario.  Read More >> 


Canadian Economy Adds 58,300 Jobs in April

According to Statistics Canada's latest labour report released last Friday, the Canadian economy added a greater than expected 58,300 jobs in April, almost all in Ontario and most of them part-time, lowering the country's unemployment rate to 7.6% from 7.7% the month previously.  The gains come after two months of little change and mean employment has risen by 283,000 positions (+1.7%) over the past year. Full-time positions are now back to pre-recession levels though the number of hours worked is still 0.6% below October 2008 levels.  Read More >>
         
April Job Gains in U.S. Best in 5 Years

U.S. employment increased more than expected in April as private sector companies created jobs at the fastest pace in five years, pointing to underlying strength in the economy.  The Labour Department reported last Friday that nonfarm payrolls rose 244,000 in April, the most in 11 months. The private sector accounted for all of the job gains in April, with payrolls rising 268,000, the largest rise since February 2006. Government employment meanwhile contracted for a six straight month, shedding 24,000 positions.  Read More >>
        

 CHHMA Events For 2011

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

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

Jean-Luc Meunier, RONA, Breakfast Seminar
Tuesday, May 31
Hotel Mortagne, Boucherville, Quebec

Western Golf Tournament
Tuesday, June 7
Morgan Creek Golf Club, Surrey, B.C.

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

Soiree Karting/Go Karting Night
Thursday, September 1
Circuit ICAR, Mirabel, Quebec

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

Industry Cocktail
Tuesday, November 29
Location TBA, Montreal, Quebec

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