AD and Imark Electrical have announced that their respective boards have unanimously voted to merge the companies. The transaction is subject to approval by Imark shareholders and is expected to close later this year. It will create a new division within AD called the Independent Electrical Supply Division, U.S. The merger is limited to the electrical channel in the U.S. and does not include Imark Canada, Imark Plumbing, or Imark Group, all legally distinct entities from Imark Electrical.
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MasterGrain acquires Fibercraft
MasterGrain has announced the acquisition of Fibercraft Door Company, based in Hanover, Ont. Fibercraft specializes in large-format fibreglass pivot door systems in the Canadian luxury door market.
“This partnership enhances our manufacturing capabilities and instantly broadens our product offerings,” MasterGrain president Chris Edwards said in a release.
CertainTeed and TimberHP enter partnership
Saint-Gobain, through its building products subsidiary CertainTeed Inc., and TimberHP, a manufacturer of insulating wood composites, have announced a distribution arrangement. CertainTeed will distribute TImberHP’s wood chip insulation in North America—and will be the exclusive distributor of the products in Canada. TimberHP is headquartered in Madison, Maine.
Ace Hardware winning the traffic battle against big boxes: new data
Ace Hardware, south of the border, is experiencing an increase in traffic, according to Placer.ai, which uses cellular location data to determine where consumers are shopping. Reportage on CNN last week said that Ace’s big box rivals, Home Depot and Lowe’s stores, are experiencing a drop of monthly traffic—again according to Placer.ai.
Walmart Canada leans into groceries
Enhancing grocery offerings, especially in fresh departments, is key to Walmart Canada’s growth strategy, The Globe and Mail reports. The retailer is approaching the final year of its five-year plan to invest $3.5 billion in upgrading about two-thirds of its stores. “The investments that we have been talking about are [going into] remodelling the stores, mainly to bring [groceries] up,” CEO Gonzalo Gebara (pictured) told the paper.
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Home Hardware announces reduction in workforce
Home Hardware Stores Ltd. laid off an undisclosed number of its employees on May 28, the company told Hardlines. It’s just the latest retailer to tighten its belt in the midst of the current soft retail market.
(We’ll have a fuller report on the news at Home Hardware Stores Ltd. in Monday’s edition of our weekly in-depth newsletter, Hardlines Weekly Report. If you are missing this important publication, you’re missing out! Click here now for a free trial subscription.)
Costco posts Q3 gains
Costco Wholesale Corp. this week reported Q3 net sales rose by 9.1 percent to $58.52 billion, beating estimates of $57.98 billion. Adjusted earnings of $3.78 per share, up 29 percent from a year ago, also topped analyst expectations of $3.70. Canadian comp sales (excluding revenues on fuel) rose by 7.4 percent, greater than the 6.5 percent increase across the board. Sales at e-retail soared by more than 20 percent.
Home Hardware store has local support after fire
A Home Hardware dealer-owner in southwestern Ontario is heartened by the support the local community has shown after a devastating fire. Watson’s Home Hardware in Goderich, Ont., burned for more than 12 hours last weekend.
Since then, Richard Watson says, his “phone has been going off constantly” as customers and neighbours reach out. He told CBC News the store has been reduced to rubble. “I think why we’re able to handle it is because of the support. This community has confidence in us. That’s our light at the end of the tunnel.”
AQMAT calls for legislation on longshore workers
AQMAT president Richard Darveau has issued an open letter to federal labour minister Seamus O’Regan. The missive comes weeks after O’Regan announced an inquiry into last summer’s port strike in British Columbia. Darveau calls for port workers to be designated an essential service, which would restrict their right to strike while in turn gaining them what he calls “salaries and conditions that defy all competition.”