CHHMA - EYE ON OUR INDUSTRY
Volume 15, Issue 38, October 14, 2015

Inside This Issue:

• Register Now for Industry Cocktail (December 10th) in Montreal
• CHHMA Looking for Volunteers to Join the Business Events Committee
• Still Time to Register for Hardlines Conference (Oct 21-22)
• Lowe’s to Meet Quebec Suppliers, Raising Speculation about Store Expansion
• Wal-Mart Expects $15-Billion Hit to Full-Year Revenue from Dollar
• Sears Canada Seeks New Credit Card Partner as End of JPMorgan Deal Looms
• RONA Completes Acquisition of Franchised Stores
• Business Leaders More Pessimistic on State of Canadian Economy
• Canada Adds 12,000 Jobs in September, But Unemployment Rate Ticks Up to 7.1%
• Housing Starts in Canada Surprisingly Strong in September
• Canadian New Home Prices Rise, Pushed Up by Ontario
• Value of Canadian Building Permits Drops 3.7% in August
• U.S. Retail Sales Barely Rise, Hit by Lower Gas Receipts

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 Looking for Volunteers to Join the Business Events Committee

We are looking for volunteers to join the CHHMA Business Events Committee.This committee meets 2 to 3 times a year in the west-end of the GTA for 2 hours.  It is charged with giving input and recommendations for topics of interest to the membership - from stand alone educational seminars, customer presentations and the annual Spring Conference.

If you would like to join this group please send an e-mail to Maureen Hizaka at mhizaka@chhma.ca or call 416-282-0022 ext 23. 


Industry News

Still Time to Register for Hardlines Conference (Oct 21-22)

The Hardlines 20th Anniversary Conference is taking place next Wednesday and Thursday (Oct 21-22) at the Westin Bristol Place Toronto Airport, 950 Dixon Road, Toronto, ON.

The Conference will feature prominent voices from across the hardware/home improvement industry. From Canada’s top home improvement retailers to upcoming technology trends, the 2015 Hardlines Conference will be a jam-packed two days of learning, insights and networking.  Read More >>


Lowe’s to Meet Quebec Suppliers, Raising Speculation about Store Expansion

Lowe’s is meeting with potential Quebec suppliers next month, spurring speculation that the American home renovation retailer is preparing the groundwork to enter the home turf of rival RONA inc.  “We believe this could be a sign that they are preparing to enter the Quebec market in the near future,” Scotiabank analyst Anthony Zicha wrote in a report.

Lowe’s spokeswoman Sandy Indig said the Nov. 5 meeting in Montreal with Quebec suppliers is to understand what products they can offer. The chain is seeking suppliers for a number of products, including doors, lighting and bathroom accessories.  Read More >>


Wal-Mart Expects $15-Billion Hit to Full-Year Revenue from Dollar

Wal-Mart Stores Inc .Chief Executive Doug McMillon said on Wednesday that the strong dollar would likely reduce the company’s full-year revenue by $15-billion.  The world’s largest retailer, which McMillon said gets about a third of revenue and a quarter of profit from outside the United States, reported revenue of $485.7-billion last year.

Wal-Mart has been grappling with sluggish sales, leading investor to seek significant changes at the company. Last Friday, the company named a new chief financial officer and installed a chief merchant, marking the latest shuffling of its management ranks.  Read More >>  


Sears Canada Seeks New Credit Card Partner as End of JPMorgan Deal Looms

Sears Canada Inc. has come down to the wire in finding a new partner to operate its lucrative credit card operations. The retailer has been looking for a new financial services partner since last year when JPMorgan Chase & Co. said it wouldn’t renew its 10-year agreement, which expires on Nov. 15. This month, JPMorgan Chase wrote to Sears cardholders warning them their store cards would no longer be valid after Nov. 15 if Sears has no alternative deal by then.  Read More >>   


RONA Completes Acquisition of Franchised Stores

RONA inc. announced last week that it has completed the acquisition of the 20 franchised stores in its network, following the announcement on July 16, 2015 that the company had signed a letter of intent to do so. The last of these transactions was completed last Wednesday morning, following satisfactory due diligence and the entering into of definitive purchase agreements.

RONA has acquired, through 15 individual transactions, substantially all of the assets of these 20 franchised stores, comprising 17 big box stores and three proximity stores, operating under the RONA, RONA L’entrepôt and RONA Home & Garden banners. Two of those transactions were closed on the last day of the third quarter and the remainder were closed in the fourth quarter.  Read More >>


Economic News

Business Leaders More Pessimistic on State of Canadian Economy

Just when some economists were starting to see a little bit of light, Canada’s business leaders are casting some dark shadows over their growth outlook.  In fact, about 40% of senior company managers say they have become less hopeful of a strong economic performance over the next 12 months, according to a third-quarter survey conducted for Chartered Professional Accountants (CPA) of Canada.

That’s up from just 20% of respondents who expressed pessimism in the previous three-month period, the results of the CPA Canada poll showed Tuesday, and a dramatic contrast to results in the third quarter of 2014 — when optimism stood at 48%.  Read More >>


Canada Adds 12,000 Jobs in September, But Unemployment Rate Ticks Up to 7.1%

The Canadian economy added 12,000 net new jobs in September, but the unemployment rate climbed by one-tenth of a percentage point to 7.1% as more people entered the labour force, Statistics Canada said last Friday.  The gain in the overall number of jobs came due to a gain in part-time employment, offset by a drop in full-time jobs.  The number of part-time jobs increased by 74,000 in September, but full-time employment fell by 62,000.  Read More >> 


Housing Starts in Canada Surprisingly Strong in September

Canadian housing starts rose to a three-year high last month, a surprise gain led by multiple-unit projects.  Work on new homes advanced 7.7% to 230,701 units at an annual pace in September, the Canada Mortgage & Housing Corporation (CMHC) reported last Thursday from a downwardly revised 214,255 in August. That puts housing starts at the highest since August 2012, bucking forecasts for a slowing in construction to 200,000 starts, which economists have said is more in line with demographic demand.  Read More >>


Canadian New Home Prices Rise, Pushed Up by Ontario

New home prices in Canada rose by 0.3% in August from July on continued strength in Ontario Statistics Canada reported last Thursday. Market analysts polled by Reuters had expected a 0.2% increase. Compared with a year earlier, prices were up by 1.3%. The combined region of Toronto and Oshawa was the top contributor to the increase, with prices up 0.6% over the previous month.   Read More >> 


Value of Canadian Building Permits Drops 3.7% in August

The total value of Canadian building permits decreased 3.7% to $7.5 billion in August, following increases of 15.5% in June and 0.7% in July (revised data) Statistics Canada reported last Wednesday. The decline was attributable to lower construction intentions in most provinces, mainly British Columbia, Alberta, Quebec and Saskatchewan.  Market analysts had expected the value of permits to increase by 0.8%.  Read More >>  


U.S. Retail Sales Barely Rise, Hit by Lower Gas Receipts       

U.S. retail sales barely rose in September as cheaper gasoline weighed on service station receipts, but gains in purchases of automobiles and other goods pointed to solid domestic demand that could shield the economy from slowing global growth.  The Commerce Department said on Wednesday that U.S. retail sales edged up 0.1% last month after being flat in August.  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 26, 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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