Richelieu profits, sales slide in Q3

Richelieu Hardware said this week its Q3 profits fell by $30.7 million to $0.53 a share, from $0.82 a share a year ago. Consolidated sales declined by 2.9 percent to $459 million, a total that beat analyst estimates of $439 million. The company pointed to a weaker loonie and higher warehousing costs as contributing to its financial results.