The value of building permits issued in Canada in January fell to $12.8 billion, StatCan reports. That was $425.8 million, or 3.2 percent, lower than December 2024. Residential construction intentions fell by 3.4 percent to $8.8 billion after increasing by $1.7 billion in December. In the single-family sector, however, permits increased by $111.4 million.

Throwback Thursday is a regular feature in which we dip into the archives of the Hardlines Weekly Report.

Twenty-five years ago, the Hardlines Weekly Report published a regular “Stockwatch.” We noted in our March 20, 2000 issue that Canadian Tire stock fell to $19.10. “Sweet are the uses of adversity,” Shakespeare wrote. Indeed, Canadian Tire was forced to come up with some new marketing strategies. One of them was putting its famous Canadian Tire money on a credit card, which it did in late 2000. Canadian Tire class A stock is now trading at $146.94, as of yesterday.

Saint-Gobain announced yesterday the appointment of Jean-Claude Lasserre as CEO of Saint-Gobain Canada. He will succeed Julie Bonamy effective April 1. Currently global CEO of Saint-Gobain Surface Solutions, Lasserre brings more than three decades of experience within the Saint-Gobain Group.

In a release, he said his “primary focus will be to connect with our customers and support our teams as we continue our work to offer a complete portfolio of building products with our recent acquisitions, while reinforcing our commitment to sustainable construction.

Hudson’s Bay Co. could shutter 40 of its 80 stores in an effort to head off bankruptcy. Canada’s oldest retailer, which was granted creditor protection last week, may have to lay off thousands of workers as part of its restructuring plan. A source familiar with company discussions told The Toronto Star that the company hasn’t yet decided which locations could be affected, and that the total number of planned closures could change.

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Hudson’s Bay Co. has filed for creditor protection, with a view to restructuring its business. In a submission to the Ontario Superior Court of Justice, the historic retailer said it would retain as many jobs as possible, without making any guarantees, and will explore options to keep its store network alive. CFO Jennifer Bewley testified in an affidavit that without court intervention, HBC would quickly default on rent payments and payroll obligations.

RONA inc. has announced it will showcase more than 6,500 Canadian-made products endorsed by the Well Made Here program. “We’ve always had a strong selection of Canadian-made products,” CEO and president J.P. Towner said in a release. “In fact, less than 10 percent of our supply comes directly from the United States.”

Though RONA is now owned by New York-based private equity firm Sycamore Partners, Towner underscored that “our head office is located on Montreal’s South Shore, our leadership team is entirely Canadian, and we employ nearly 21,000 people across the country,” adding that independent affiliates make up almost half of RONA’s store network.

Seven & i Holdings, the parent company of the 7-Eleven convenience chain, acknowledged today that it’s in talks with Alimentation Couche-Tard over a plan to clear the way for the Canadian firm’s takeover proposal. That would involve divestments for the sake of satisfying antitrust laws in the U.S., where the two companies combined operate some 20,000 stores. Seven & i last week named Stephen Dacus as CEO, with a mandate to negotiate over Couche Tard’s $47 billion offer.

Federated Co-operatives Limited (FCL) has acquired ColdStar Solutions Inc., a transportation, warehousing, and grocery wholesaler headquartered in Victoria. ColdStar has been providing trucking and warehousing services, as well as wholesale groceries and produce, to stores and supermarkets across Vancouver Island, the Gulf Islands, and the Lower Mainland for more than 25 years.

“ColdStar has been an important supply chain partner for FCL since 2017. We are pleased that the partnership has ultimately led to the acquisition of this tremendous company,” said Heather Ryan, CEO, Federated Co-operatives Limited. “This acquisition demonstrates our ongoing commitment to supporting local Co-ops and optimizing our supply chain network, contributing to our overall growth strategy as an organization.”

With warehouse locations in Richmond, Victoria, Ladysmith, and Comox B.C., ColdStar provides FCL with strategic supply chain advantages on the West Coast. This acquisition is expected to begin operating under the ownership of FCL on March 14, 2025.

Canfor Corp. has reported a Q4 net loss of loss of $63.3 million, or $0.53 per share. Sales of $1.285 billion were up from $1.283 billion a year earlier. Year-to-date, sales amounted to $5.253 billion, down from $5.43 billion, while the company’s net loss widened to $669 million from $326 million in 2023.