CHHMA - EYE ON OUR INDUSTRY
Volume 11, Issue 19, May 19, 2011


Industry News

Canadian Tire Profits Up in First Quarter; CTC To Add Major Appliances  
     
Last Thursday, Canadian Tire Corporation, Limited released its first quarter results for the period ended April 2, 2011. First quarter profit rose 13.4%, aided by a boost in retail sales and its gas bars. For the period, the company reported earnings of $58.4 million, or $0.71 per share, compared with $51.6 million, or $0.63 per share, in the same period a year earlier. Canadian Tire also announced at the company's annual general meeting of shareholders last Thursday that the company is finally making strides in improving its automotive business and that it will begin selling major appliances in its stores across Canada to bolster its assortment of household goods.  Read More >>
  

Home Depot Sales Lower in First Quarter

On Tuesday, Home Depot Inc. reported weaker than expected first quarter sales as inclement weather hurt demand for seasonal goods at the start of the spring selling season. Sales fell 0.2% to $16.82 billion (U.S.) in the first quarter ended on May 1, 2011. Lower expenses helped on the profit front. Meanwhile, a new management team has been unveiled at The Home Depot Canada.  Read More >>  
        

Lowe's Reports Lower First Quarter Sales & Earnings  
 
Lowe's Companies, Inc. reported on Monday net earnings of $461 million for the first quarter ended April 29, 2011, a 5.7% decrease from the same period a year ago. Earnings per share of $0.34 were flat compared to the first quarter of 2010. Sales for the quarter decreased 1.6% to $12.2 billion from $12.4 billion in the first quarter last year. Comparable store sales for the first quarter decreased 3.3%.  Read More >>


Sears Canada Posts First Quarter Loss on Falling Sales 

On Tuesday, Sears Canada Inc. announced its first quarter results for the 13 week period ended April 30, 2011. Total revenue for the quarter was $992.5 million compared to $1.068 billion last year, a decrease of 7.1%. Same store sales decreased 9.2%. Net earnings for the first quarter were a loss of $49.5 million or $0.47 per share compared to a loss of $8.8 million or $0.08 per share for the same period last year.  Read More >> 

 
Wal-Mart First Quarter Sales Fall, But Profit Improves 

Growing overseas business and strict cost controls helped Wal-Mart Stores Inc.'s net income rise 3% in the first quarter. But the retailer posted their eighth straight quarter of revenue declines at stores open at least a year. The company also offered a cautious earnings outlook because of worries that higher prices for gasoline and groceries could put more strain on its low-income customers.  Read More >>
  

Stewardship News

Register by 5pm on May 19 for Blue Box Fee Consultation Meeting 

Stewardship Ontario is inviting all Blue Box program stewards to participate in a consultation session to review the fee setting methodology. By participating, stewards can ensure that their questions, concerns and ideas are taken into account by Stewardship Ontario as possible changes to the methodology are being considered.  The consultation will be held at the Sheraton Toronto Airport Hotel and Conference Centre on Thursday, May 26, 2011 from 9am until noon. Attendees may opt to participate in-person or via webcast.  Read More >> 
 

Government & Legislative News

Register for Information Session on the New Canadian Consumer Product Safety Act 

Health Canada is inviting industry (Manufacturers, Importers, Distributors and Retailers) to attend a free half-day information session to learn more about the new Canada Consumer Product Safety Act (CCPSA), which is coming into force on June 20, 2011.  There are a number of these information sessions being held across the country between May 25 and June 16.  Read More >>
        

Association News 

Last Call for the CHHMA Ontario Golf Tournament at Angus Glen

The 42nd Annual CHHMA Ontario Golf Tournament is less than a week away and there are still some spots available if you would like to tee it up at the Angus Glen Golf Club in Markham, Ontario next Wednesday, May 25.  Read More >>
 

Jean-Luc Meunier Breakfast Seminar Fast Approaching 

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 Now for CHHMA Western Golf Tournament  

The 15th Annual CHHMA Western Golf Tournament is set for Tuesday, June 7 at the Morgan Creek Golf Club in Surrey, B.C. Tee-off times will be allocated between 11:14 a.m. and 1:17 p.m., followed by dinner and award/prize presentations which will start at 6:30 p.m. The cost to attend is $230+HST for CHHMA members, $255+HST for non-members and $80+HST for dinner only. Money raised from the tournament will go towards the CHHMA Scholarship Program which awards scholarships each year to children of CHHMA member employees.  Click here for further details aor to register. 


Night at the Races - June 15th

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 more info or to register. 


Maple Leaf Night Recap 

There was an excellent turnout and the mood was very positive at last Tuesday's Maple Leaf Night held at the Mirage Hotel & Casino in Las Vegas. CHHMA members and Canadian retailers in town for the National Hardware Show had an opportunity to kick back and enjoy some friendly conversation over food and drinks after the opening day of the show. We would like to thank the sponsor companies once again for their support in making this event a success and look forward to seeing everybody next year. 
       

Economic News

New Mortgage Rules Lower April Resales 

Statistics released by the Canadian Real Estate Association (CREA) on Tuesday, showed that national resale housing activity declined in April , reflecting changes to mortgage regulations that came into effect previously. As anticipated, the changes pulled forward some sales activity that would have otherwise occurred at a later date.  Read More >>
  

U.S. Housing Starts Fall in April

U.S. housing starts and permits for future home construction fell in April as an abundance of homes on the market discouraged builders from taking on new projects, pointing towards continued weakness in the housing market. The Commerce Department reported on Tuesday that U.S. housing starts in April fell 10.6% from March to a seasonally adjusted annual rate of 523,000 units. That is down nearly 25% from one year ago and is less than half of the 1.2 million housing starts that economists consider as a sign of a healthy market.  Read More >>
 

U.S. Builders See Little to Like in Housing Market

U.S. homebuilders are concerned that the struggling housing market won't recover this year and some feel it may be getting worse.  The National Association of Home Builders said on Monday that its builders' outlook for the industry in May was unchanged at 16. It has been at that level for six of the past seven months. Any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.  Read More>> 


U.S. Retail Sales Rise in April but at Slower Pace

Sales at U.S. retailers posted their smallest gain in nine months in April as high food and gasoline prices drew spending away from other areas, but upward revisions to March's data suggest consumer spending in the first quarter might have been stronger than initially thought.  Read More >>
        

 CHHMA Events For 2011

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