CHHMA - EYE ON OUR INDUSTRY
Volume 15, Issue 41, November 6, 2015

Inside This Issue:

• Register Now for Industry Cocktail (December 10th) in Montreal
• CHHMA Auto & Home Insurance Program
• CSSA Annual Steward Meeting Materials Now Available
• Register for Consultation Meetings on ÉEQ’s 2015 & 2016 Schedule of Contributions
• Sears Canada Hires Carrie Kirkman as New President
• Amazon Gets More Clicks than Canadian Web Retailers, But It Isn’t Hurting Sales — Yet
• Canadian Retailers Focus on Black Friday Next
• How the Decline of Black Friday Might Even Help Retailers
• Canadian Dollar Forecast to Sink to 72¢, Remain Stunted through 2017
• Home Renos Are the New Housing Boom: CMHC
• Toronto, Prairie Housing Markets at High Risk for Correction: CMHC
• UBS House ‘Bubble Index’ Warns Vancouver Among World’s Frothiest
• Canada’s Economy Grows for Third Straight Month But at a Slower Pace
• Latest U.S. Economic News

Association News

Register Now for Industry Cocktail (December 10th) in Montreal

This year’s Industry Cocktail is taking place on Thursday, December 10th from 5:30 p.m. to 8:30 p.m., at the Bar Dame de Coeur at the Casino de Montreal.

The location offers a fun and relaxing atmosphere where you can enjoy some wonderful food, drinks and conversation with friends from the industry while enjoying the festive season together.

Click here for further information and registration.  
 

CHHMA Auto & Home Insurance Program

The CHHMA has partnered with Aaxel Insurance Brokers Ltd. and Economical Select® to provide our members with exclusive group rates on auto and home insurance, as well as several additional discounts that can result in significant savings to you and your fellow employees.

Economical Select can benefit you by offering:

• A 20% discount on auto insurance and a 20% discount on home insurance, applied in addition to other potential discounts if you are claims-free, conviction-free or bundle more than one policy.
• Second Medical Opinion coverage enhancement, free of charge with an active property policy. This coverage enhancement allows policyholders to get a second medical opinion through a global network of over 20,500 physicians, specialists and sub-specialists organized by WorldCare®.
• A chance to win one of six new vehicles in a Select Sweepstakes or a $100 gas card, just for getting a quote!  Find out more at http://www.selectsweepstakes.com. The next draw for a car (a Jeep Cherokee) takes place on December 4th, so get a quote by November 30th to get entered.   Read More >>


Register for Consultation Meetings on ÉEQ’s 2015 & 2016 Schedule of Contributions

On November 17 and 19, Éco Entreprises Québec (ÉEQ) will be in Montreal and Toronto to present its draft 2015 and 2016 Schedules of Contributions to companies and organizations subject to the compensation plan.

The meetings will:

- Explain changes to the Schedule that make it simpler and better
- Present the preliminary rates

Montreal:Tuesday, November 17, 2015,
from 10:30 a.m. to 12:30 p.m.
Omni Mont-Royal Hotel,
Printemps Hall
1050 Sherbrooke Street West, Montréal

Toronto: November 19, 2015,
from 10:30 a.m. to 12:30 p.m.
The Westin Harbour Castle,
Pier 7-8 Hall
1 Harbour Square, Toronto

Please note that the November 17 consultation will be conducted in French, while an English presentation will be made available. The consultation is also available by simultaneous web broadcast in both languages. The November 19 meeting will be conducted in English only without simultaneous broadcast. Lunch will be served on site after each meeting to promote networking.

The consultations provide a forum for individuals to ask questions or make comments that will be taken into consideration for Schedules of Contributions submitted to the government for approval.

Companies wishing to participate in consultations on the 2015 and 2016 Schedules of Contributions may reserve their seat now for one of the two available sessions by clicking here.      


Industry News

Sears Canada Hires Carrie Kirkman as New President

Sears Canada Inc. has hired a veteran of the Canadian retail industry to be its president and chief merchant — a new position created to restore shoppers’ confidence in the struggling department store operator.  Carrie Kirkman has most recently been interim president of shoe retailer Nine West Canada and was president of Jones Apparel Group from October 2010 until last April.

Kirkman will work with Brandon G. Stranzi, who has been executive chairman of Sears Canada since the departure of Ronald Boire, who was chief executive and president of the troubled Canadian department store company for less than a year.  Read More >>


Amazon Gets More Clicks than Canadian Web Retailers, But It Isn’t Hurting Sales — Yet

The websites of Canadian bricks-and-mortar retailers have not made much of a dent in Amazon Canada’s share of consumer visits, according to a new BMO report.  But an absence of relevant product overlap between traditional retailers and the Seattle web giant, and a lacklustre response to Amazon’s bonanza Prime Day sale this summer, suggests Canadian retailers’ revenue is not suffering for it — not yet, at least.   Read More >>


Canadian Retailers Focus on Black Friday Next

With Halloween out of the way, retailers have their sights set on Black Friday. 
Amazon.ca launched its Black Friday Deals Store on Monday, malls are gearing up for an influx of shoppers and Purolator is prepping for a surge in package deliveries.

“I think last year was a big tipping point for most Canadian retailers,” said Retail Council of Canada spokesperson Michael LeBlanc.

Canadian merchants adopted Black Friday to compete with U.S. retailers when the Canadian dollar was at par, to reduce the flow of cross-border shoppers.  The Canadian dollar is now worth considerably less, but retailers are expected to keep offering Black Friday deals.  Read More >>  


How the Decline of Black Friday Might Even Help Retailers

In recent years, Americans have noticed a change to the rhythm of the holiday shopping season. Big-box retailers have been starting their major holiday sales not on Black Friday, but one day before, on U.S. Thanksgiving Day.  They are often offering other seasonal deals days or even weeks earlier. The fastest growing online shopping day of the season is Thanksgiving Day, meaning many digital shoppers are not waiting for the following Monday, so-called Cyber Monday, to kick off their spending.

Consulting firm Deloitte released survey data last week that helps put in perspective how quickly this change is taking place. Deloitte asked respondents about how much they rely on these traditional kick-off events to get their shopping done and found that, compared to last year, fewer people count on these days to buy their gifts.  Read More >>      


Economic News

Canadian Dollar Forecast to Sink to 72¢, Remain Stunted through 2017

If you’re counting on a rebound for the Canadian dollar any time soon, don’t.  The latest forecast from Bank of Nova suggests the loonie is poised to tumble to as low as 72 cents (U.S.).  Not only that, when it recovers it won’t crack the 80-cent mark even by the end of next year.

“Interest rate differentials will move against the Canadian dollar [CAD] as U.S. interest rates rise,” Shaun Osborne, Scotiabank’s chief foreign exchange strategist, said in the report, referring to the fact that the Federal Reserve is moving ever closer to a rate hike while the Bank of Canada is expected to do nothing on that front for some time yet.  Read More >>


Home Renos Are the New Housing Boom: CMHC

Basement renos are going to be big business across the Ontario housing market over the next few years, as will be the remaking of the province’s aging rental buildings, more than 85% of which are creeping up on 40 years old.

Those two things alone could contribute to an explosion of work for contractors and craftsmen in what’s already a $25 billion construction sector in Ontario alone, according to analysts with the Canada Mortgage and Housing Corporation (CMHC).

Bankrolling all those new bathrooms, kitchens and subterranean sleeping quarters will be two extremes of homeowners, said CMHC Ontario regional economist Ted Tsiakopoulos at the housing corporation’s annual Toronto Housing Outlook Conference Tuesday.  Read More >>   


Toronto, Prairie Housing Markets at High Risk for Correction: CMHC

Housing markets in Toronto and some Prairie provinces are at high risk for a correction, Canada’s federal housing agency warned last Thursday, as several cities grapple with soaring home prices and a glut of new condo development.

In a new quarterly forecast on the housing market, the Canada Mortgage and Housing Corporation (CMHC) said it saw scant evidence of serious problems in the overall Canadian housing market, but warned that home prices are now outstripping economic fundamentals in 11 out of 15 major markets (up from just 8 last June) and that four cities are now at risk of a correction because of high prices and a surge in the supply of new homes under construction.  Read More >>


UBS House ‘Bubble Index’ Warns Vancouver Among World’s Frothiest

Vancouver’s “significantly overvalued” housing market is among the most bubbly in the world, a new report suggests.  The UBS Global Real Estate Bubble Index, which launched last week, puts Vancouver at #4 behind London and Hong Kong, and just a shade behind Sydney.  In fact, Vancouver and Sydney are so close together that they’re virtually tied for the third spot in a ranking where #1 is not where you want to be.  Read More >>   


Canada’s Economy Grows for Third Straight Month But at a Slower Pace

The pace of economic growth in Canada slowed in August, Statistics Canada reported last Friday as the economy crept ahead 0.1%.  The increase for the month was smaller than the 0.4% addition in June and 0.3% growth in July, but matched the expectations of economists, according to Thomson Reuters.

“After the strong rebound in June/July, it’s back to reality for the Canadian economy now,” CIBC economist Andrew Grantham said in a note.  “And that reality appears to be very modest growth.”  Read More >>      


Latest U.S. Economic News       

U.S. manufacturing activity slowed in October for a fourth straight month, but a rise in new orders offered hope for a sector buffeted by a strong dollar and relentless spending cuts by energy companies.

U.S. consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases.

Contracts to buy previously owned U.S. homes fell unexpectedly in September, a warning sign that the housing market recovery may be stumbling.

U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, but solid domestic demand could encourage the Federal Reserve to raise interest rates in December.

The U.S. Federal Reserve kept interest rates unchanged on Oct. 28 and in a direct reference to its next meeting put a December rate hike firmly in play.  Read More >>
 
  

 Upcoming CHHMA Events 

Industry Cocktail
Thursday, December 10, 2015
Casino de Montreal, Montreal, Quebec

Canada Night
Held in Conjunction with the International Home+Housewares Show
Sunday, March 6, 2016
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Tuesday, April 12, 2016
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Held in Conjunction with the National Hardware Show
Wednesday, May 4, 2016
The Mirage Hotel & Casino, Las Vegas, Nevada

CHHMA Quebec Golf Classic
Thursday, May 19, 2016
Club de golf Le Fontainebleau, Blainville, Quebec

CHHMA Ontario Golf Tournament
Tuesday, May 31, 2016
Angus Glen Golf Club, Markham, Ontario        
       

CHHMA Industry Calendar

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

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