Jeld-Wen Holdings posted Q1 revenues of $776.0 million, down 19 percent driven by the court-ordered divestiture of the company’s Towanda, Penn., facility. The company further posted a net loss of $179.8 million compared to $27.7 million in the same quarter last year.

“While market conditions remained very challenging during the first quarter, they developed mostly as expected,” said CEO William J. Christensen. “We continued to execute our transformation, removing cost and improving focus across the business. However, the pace of market deterioration continues to outweigh the benefits of our cost actions. We are beginning to see signs of improvement in our quality and service levels, and we expect further gains in the second quarter.”

The latest BMO Real Financial Progress Index reveals that 67 percent of homebuyers are waiting for interest rates to drop before purchasing a home, a five-percent decrease from 2024. Additionally, 74 percent are reporting they are taking a “wait and see” approach to buying a new home due to economic concerns.

Thirty-eight percent of respondents said they are waiting for rates to drop below three percent before purchasing or refinancing a home. A further 52 percent reported they would move to a different province or country to afford a home.

“Canada’s housing market remained under pressure heading into the spring, with sales and prices both weakening further,” said Robert Kavcic, senior economist, BMO Capital Markets. “There is some clear underlying weakness as inventory builds and investors remain absent. Suffice it to say, homebuyers are losing confidence and motivation, especially in areas of B.C. and Southern Ontario.”

Forty-five percent said they would consider buying a home with friends, family members, or other people they are not romantically involved with, with Gen Z (63 percent) and Millennials (50 percent) being the mostly likely to consider a shared homeownership approach.

Tariffs are still not affecting Canadian home improvement retailers en masse. But the supply chain is starting to fill with products that are subject to tariffs. But some suppliers are eating the difference.

The first tranche of American products—$30 billion annually—to get hit by Canadian government counter-tariffs includes a significant number of back-end LBM categories, ranging from plywood and OSB to engineered wood.

Kelvin Johnston, senior buyer, commodity lumber and panels, at Castle Building Centres Group, points out that some vendors are currently absorbing the tariffs. “They have a lot of product on the ground that was brought in before the tariffs were in place. Some vendors have already changed their pricing. And some will do it on a SKU-by-SKU basis as they run through their current inventory.”

(A deeper examination of lumber tariffs appears in this week’s edition of our sister publication, Hardlines Weekly Report. HWR is reserved for Premium Members only. Click here to learn more about becoming a Premium Member of Hardlines!)

A live event on the “Repatriation of the Canadian Consumer” will be held tomorrow, and it’s going to feature a serious lineup of senior retail buyers and experts. Hosted by the Canadian Home Products Trade Association, the symposium is being sponsored by Global Furniture.

One panel, called “Canadian Retailers and the Buy Canadian Movement,” will feature five Canadian retail professionals representing hardware and LBM, housewares, and office products, and include representatives from Canadian Tire and TIMBER MART.

Hardlines’ own Michael McLarney will moderate a multi-faceted and insightful discussion on how retailers’ businesses are affected by a consumer-driven Buy Canadian movement. Panelists will give first-person accounts on how customers are buying from retailers of different sizes across different category verticals. Retail data experts will provide an in-depth analysis on the growing rise of “patriotic purchasing.”

The CHPTA symposium promises to be both enlightening and insightful. It’s being held TOMORROW, May 6 from 8:30 to 11:30 a.m. EST at the headquarters of Global Furniture, 1350 Flint Road, Toronto. (Click here now to register!)

The Canadian Home Products Trade Association is offering a free virtual class on public speaking for business settings.

Gerry Lubanszky (pictured), a veteran of business development in the consumer goods sector, will guide participants on how to use voice and body language to best represent their organizations. The event takes place May 12 and it’s free, but spaces are limited, so click here to register today!

Canadian Tire Corp. has submitted a bid on some of Hudson Bay Co.’s intellectual property assets, sources have told The Globe and Mail.

CTC would not comment on any potential bid, the deadline for which was yesterday.

HBC’s IP holdings include the rights to the Zellers, Stripes, and Gluckstein brands.

Canada’s largest skilled trades and technology conference, the Skills Ontario Competition, will be held  May 5 and 6 at the Toronto Congress Centre.

Started in 1989, the Skills Ontario Competition offers a unique opportunity for top students to demonstrate that they are the best of the best in their skilled trade or technology field.

“We look forward to welcoming students from across Ontario to compete in the Skills Ontario Competition to showcase their skills, knowledge and passion for their craft,” said Ian Howcroft, CEO of Skills Ontario. “The young people participating in this event are the future skilled trade and technology leaders of Ontario, and our staff wish everyone competing the best of luck and to have fun.”

In addition to observing the contests, spectators can also explore the Career Exploration Showcase which features over 75 employers, labour unions, and colleges. A number of pre-registered conferences will also be running during the Skills Ontario Competition.

Competitors who win gold and meet the eligibility criteria at the Skills Canada National Competition (SCNC) 2025 will earn the opportunity to represent Canada at the WorldSkills Competition in Shanghai, China in 2026.

Hardlines is calling for entries, which are due June 13, 2025, for the 33rd Outstanding Retailer Awards (ORAs).

The ORAs are the only national awards program in Canada recognizing hardware, LBM, and paint retailers across all banners. Awards are presented in at least seven categories, including Young Retailer of the Year and Marc Robichaud Community Leader.

Winners get to attend the Hardlines Conference as our guests, including the Outstanding Retailer Awards Gala, where they will be honoured in front of the entire industry. Winners will also receive marketing materials including a write-up in Hardlines Home Improvement Quarterly magazine.

Click here for more information and to download the nomination package (disponible en français également)! The ORAs will be presented Oct. 21 during the 2025 Hardlines Conference in Banff, Alta.

B.C. mall tycoon Weihong Liu has placed a bid for 25 Hudson’s Bay Co. properties, she confirmed yesterday to The Toronto Star. Liu had previously announced her intention to “acquire” HBC on Chinese social media app Red Note. She told the newspaper she will be holding a press conference within 10 days.

At the same time, Toronto investment firm Urbana has come out with a proposal of its own to acquire the Hudson’s Bay brand and the company’s historic 1670 royal charter, an artifact whose fate some Indigenous advocates say should be decided by First Nations.

RONA has expanded its exclusive Tilley Tuff workwear line. New men’s products have been added for spring and, for the first time, Tilley has introduced a women’s workwear collection.

Designed for anyone from pros to interior design enthusiasts, the line aims to position RONA as a destination for workwear and casual clothing. The Tilley Tuff brand has been designed for Canadians doing physical jobs in demanding environments, with items starting at under $15.