CHHMA - EYE ON OUR INDUSTRY
Volume 13, Issue 38, October 16, 2013
Inside This Issue:
• Make Plans to Attend the Industry Cocktail on December 5th
• International Home+Housewares Show – March 15-18, 2014
• Sears Canada’s Head Office Braces for More Layoffs Under New CEO
• Canadian Tire REIT Said to Have Raised $263.5 Million in IPO
• Fourth Quarter Sales and Profit Up for Costco but Below Market Expectations
• Canadian Home Resales Continue to Show Strength in September
• Canadian House Prices Gain in Third Quarter: Royal LePage Survey Shows
• New Home Prices in Canada Edge Up in August and a Tame 1.8% Year-Over-Year
Strong
• Canada-U.S. Price Gap Narrows Somewhat in Latest BMO Report
• Companies Hesitant to Hire and Invest: Bank of Canada Survey
• Canada’s Unemployment Rate Drops to 5-Year Low as Fewer Youths Look for Work
• U.S. Consumer Sentiment Falls to 9-Month Low
Association News
Make Plans to Attend the Industry Cocktail on December 5th
This year’s Industry Cocktail will be taking place on Thursday, December 5th, from 5:30 p.m. to 7:30 p.m. at Bar Reine de Coeur located at the recently renovated Casino de Montreal.
This traditional industry year-end event brings together a wide spectrum of people from the industry including manufacturers, distributors and retailers.
The location offers a fun and relaxing atmosphere where you can enjoy some wonderful food, drinks and conversation with your industry colleagues while enjoying the festive season together. Further details and information on how to register will be ready later this week, but in the meantime, please mark your calendars and make your plans to attend now.
And while in town for the show, make sure to attend the 65th Canada Night reception which is being held at the InterContinental Hotel in Chicago on Sunday, March 16, 2014 from 6:30 p.m. to 8:30 p.m. This event provides and opportunity for Canadian vendors, agents and suppliers to get together with their peers and Canadian retailers in a social environment while celebrating the common bond of being Canadian and enjoying the beer and wine bar and some excellent cuisine. Further details and registration info for Canada Night registration details will be available later in the year.
Sears Canada's Head Office Braces for More Layoffs Under New CEO
Head office employees at Sears Canada are bracing for more layoffs as the struggling retailer moves forward under its new turnaround specialist CEO. The Financial Post reported that the company held a series of head office meetings last week with employees at multiple levels and departments to outline its strategies, according to sources, which include a goal of streamlining head office and decreasing its salary costs. The scope of the pending cuts was not revealed, and no store-level employees will be affected, sources said. The reports come at a time of renewed turbulence for the retailer, which saw the surprise exit last month of CEO Calvin McDonald, who was replaced by former chief operating officer Douglas Campbell. Read More >>
Canadian Tire REIT Said to Have Raised $236.5 Million in IPO
Canadian Tire Corporation’s real estate investment trust (REIT) raised $263.5 million in an initial public offering, according to two people familiar with the transaction. CT Real Estate Investment Trust, created by the country’s largest sporting goods retailer, sold 26.35 million trust units for $10 each, with an initial yield of 6.5%, said the people, who asked not to be identified because the terms aren’t public. Read More >>
Upcoming CHHMA Events
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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