Lowe’s Cos. has developed the next steps in its “Total Home” strategy. The retailer has plans for growth across five focus areas: deepening pro penetration, accelerating its online business, expanding installation services, driving localization, and elevating its product assortment.
The moves are “designed to enhance our omnichannel capabilities and position Lowe’s as a one-stop shop for DIY and pro customers to get everything they need across all of their projects,” according to Marvin Ellison, the company’s chairman, president, and CEO.
Costco has released its annual results for the year ended Oct. 31. Net sales for the fiscal year totaled $222.7 billion, an increase of 16%, with a comparable sales increase of 14%. Net income for the year was $5.8 billion, or $13.14 per diluted share, an increase of 17%. Revenue from membership fees increased 9% to $4.2 billion.
During the year, Costco opened two more locations in Canada, for a total of 107, with 50,000 employees in this country.
The newest location for Wolseley Canada opens tomorrow in Oakville, Ont. The 21,000-square-foot facility offers a full range of Wolseley Canada’s roster of plumbing and HVAC products. Vanessa Sawicki-Dunn is the manager of the Oakville branch. Burlington, Ont.-based Wolseley Canada has 220 locations.
LM2 Marketing has announced the appointment of Mike Hachey as its newest partner and account manager, starting this week. Hachey brings 30 years of industry experience to the role including a series of merchandising leadership positions. At the same time, the company said that VP and account manager Richard Lépine will retire after 47 years in the hardware trade, while staying on in a consulting capacity.
Lowe’s Canada has announced that Ed Bulley, owner of Ed’s Building Supplies in Fort Nelson, B.C., is its newest RONA affiliate dealer.
Serving the area since 1955, the store will undergo a 10,000-square-foot expansion. The total retail space will be 17,000 square feet, with an 11,750-square-foot roofed lumber space and a 20,000-square-foot outdoor lumber yard. Over 400 SKUs will be added across different categories, such as lighting, flooring, and appliances. (Shown l-r: Ed Bulley, Ryan Bulley, and Derek Bulley)
Home Hardware dealer-owner Kimberly Seguin-Gauthier is relocating her store in Essex, Ont., to a new, larger location. The store will involve a $13 million investment in the new site on 12 acres of land. According to AM 800, the local radio station, Seguin-Gauthier said she has plans to develop the surrounding parking area on the property with additional businesses.
BMR Group has announced the appointment of Caroline Dionne as VP, finance, effective today. A graduate of HEC Montréal, she continues to report to André Lavoie, EVP, shared services. Dionne joined the company in 2021 as senior director, corporate accounting, and was appointed senior director, finance, in August 2022. Prior to joining BMR Group, Dionne held management positions in the food distribution, energy supply, and pharmaceutical industries.
AD Building Supplies – Canada (formerly TORBSA) is welcoming Velcan Forest Products as a new member, effective Jan. 1. Velcan has manufactured and supplied framing materials and prefabricated wood components for the building industry for some 30 years. It has two Ontario locations, in Ottawa and Oshawa.
The total value of building permits in Canada declined 1.4 percent in October to $10 billion, StatCan reports. Residential permits fell by 6.4 percent to $6.5 billion, more than offsetting gains from the non-residential sector. The single-family homes component was down 5.8 percent for the month as eight provinces posted a drop in construction intentions. Manitoba however saw a surge of 14.3 percent following two weaker months.
Lowe’s Canada held its PROvember campaign last month in most Lowe’s, RONA, and Réno-Dépôt stores. Pro customers had the opportunity to make a donation at checkout to support men’s health organization Movember Canada, which focuses on mental health, prostate cancer, and testicular cancer. Thanks to the participation of pro customers at stores like Réno-Dépôt Ste-Dorothée (pictured), nearly $40,000 was raised for Movember Canada.