The federal government’s Canada Greener Homes grant is coming to an end, expected to close to new applications by the end of next of month. The program provided up to $5,000 toward renovations increasing energy efficiency, and its demise is prompting concerns about the job security of the auditors who complete the required assessments.
“We’ve just increased the number of energy advisors across Canada dramatically. Millions and millions and millions of dollars was spent training new energy advisors,” Stephen Farrell of Calgary’s VerdaTech Energy Management told CBC News. “I would suggest we can lose about 70 percent of them.”
Tyndale Advisors, Orgill’s marketing arm and subsidiary, announced the promotion of Jim Rivas to the position of president of Tyndale Advisors. Rivas was most recently director of retail technology at Orgill. In that role, he managed Orgill’s retail operations and technology solutions consulting.
StatCan announced yesterday that the national inflation rate had dropped to 2.9 percent in January, a lower than expected number, and down from 3.4 percent in December. Lower gasoline prices were the primary driver of the drop, the agency said. The Bank of Canada had raised interest rates 10 consecutive times before holding steady at five percent since last July.
The Home Depot posted Q4 earnings of $2.80 billion, or $2.82 per share. That was down from $3.36 billion ($3.30) a year earlier but still topped analyst estimates of $2.77 per share. Revenues fell to $34.79 billion from $35.83 billion, beating the expected $34.64 billion. “Our market is on its way back to normal demand conditions,” CFO Richard McPhail told CNBC. “We’re not quite there yet, but the pressures we saw in 2023 are receding.”
Walmart reported Q4 earnings of $5.49 billion, or $2.03 per share, compared to $6.27 billion ($2.32) a year earlier. Adjusted earnings came to $1.80 per share, while sales rose 5.7 percent to $173.38 billion. The results beat Wall Street expectations of $1.64 per share on sales of $170.85 billion. In Canada, net sales rose by 1.8 percent to $6.0 billion, with comp sales growth of 1.5 percent.
At the same time, the retail giant announced it is acquiring TV maker Vizio for $2.3 billion. The acquisition “enables a profitable advertising business that is rapidly scaling,” said Seth Dallaire, chief revenue officer for Walmart US.
If you’re a Canadian dealer who is attending the Orgill Spring Dealer Market in Orlando, Feb. 22-24, you are invited to join Hardlines and our sponsors at a Canadian pub night!
The event will be held this Thursday, Feb. 22, at The Pub, 9101 International Drive, Orlando, from 6:00 p.m. – 9:00 p.m. The Pub is just a seven-minute walk from the Orange County Convention Center!
Click here to RSVP!
The latest issue of Hardlines HR Advisor hits inboxes this week. In this edition, we look at the benefits of decision-making maps, the power of mentorship, and managing labour costs. If you’re not already receiving HR Advisor, click here to sign up for free!
TIMBER MART is hosting its buying show at the Toronto Congress Centre. One thousand dealers and vendors are personally in attendance at the event. The show is also viewable by dealers via a cloud-based trade show platform.
“Once again this year, we’re seeing very strong attendance and support for our show thanks to the virtual convenience it has to offer alongside the member-exclusive deals and great networking opportunities available,” says Bernie Owens, president and CEO of TIMBER MART. “The hybrid show format is proving to be a valuable and cost-effective option for dealers and vendors alike and is likely one that is here to stay.”
A total of 227 vendor booths fill the 70,000-square-foot show floor at the Toronto Congress Centre and its virtual counterpart.
Investment in building construction edged up 0.3 percent month over month to $19.8 billion in December, according to new StatCan data. Residential construction spending grew by 0.3 percent to $13.8 billion, led by a 12 percent gain in Prince Edward Island. Investment in detached single-family homes declined 1.0% to $6.5 billion.
Castle Building Centres is seeking a highly motivated individual with strong relationship and communication skills to manage and develop its future growth in Newfoundland and Labrador. This position requires an individual who is familiar with the province’s lumber and building supply industry, willing to travel extensively, and accustomed to working remotely from head office. For more details, check out our Classifieds page!
