The Canadian Housing Market Index (HMI) took a Q3 hit, according to the latest report from the Canadian Home Builders Association (CHBA). The single-family HMI recorded a score of 27.4, which is down 2.5 from last quarter. The multi-family HMI is down 4.0 points from last quarter with a score of 28.5. The reported that both indexes are approaching the record lows seen in Q3 2023. Ontario and British Columbia saw the biggest decreases.

Sarah McGoldrick

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

Ten years ago, in our Nov. 24, 2014 issue, we reported on the opening of Home Depot’s 181st store in Canada. It was in Brampton, Ont., near Toronto. Then, the following spring, we reported on a Vaughan, Ont. store opening from the big box giant, its 182nd in Canada. That 2015 opening remains the last store that the world’s largest home improvement retailer has opened in this country.

TIMBER MART has appointed Carolanne Olivier to the position of national advertising manager, effective immediately. Formerly bilingual account manager at TIMBER MART’s advertising agency, Sims Advertising, she replaces existing account manager Geoff Fleming, who is retiring by the end of the year after two decades at the national buying group. In her new role, Olivier will report directly to Jon Irwin, the company’s vice-president of member services.

Grocery giant Metro Inc. reported Q4 sales of $4.94 billion, down 2.6 percent from the comparable period of fiscal 2023. Same-store sales of food were up 2.2 percent for the quarter. Net earnings fell by 1.0 percent to $219.9 million. For the full fiscal year, net earnings declined by 8.5 percent to $931.7 million, while sales of $21.2 billion represented a 2.4 percent increase from fiscal 2023.

Investment in building construction rose 2.1 percent to $21.6 billion in September, StatCan reports, following a 0.2 percent increase in August. Spending in the residential sector increased 2.9 percent to $15.2 billion, with single-family investment up 4.0 percent to $7.0 billion. Year over year, investment in building construction grew 6.7 percent in September.

Groupe Patrick Morin has announced its first acquisition in the Ottawa-Gatineau area. Four renovation centres were purchased there for an undisclosed sum from P. Bonhomme Enterprises. The Ontario locations (in Rockland, Carleton Place, and Limoges) operate under the Bytown PRO banner, while the store in the Hull district of Gatineau, Que., is known as Bonhomme PRO.

P. Bonhomme president Paul Bonhomme (pictured centre, flanked by Patrick Morin VP and operations manager Daniel Lampron, left, and president Louis Turcotte) will continue to helm the business with the support of his current leadership team.

Lowe’s Cos. reported its third-quarter results this morning. The Mooresville, N.C., company said that sales were US$20.2 billion, compared with US$20.5 billion in the 2023 quarter. Comp store sales were off 1.1 percent, “driven by continued softness in DIY bigger-ticket discretionary demand, which was partly offset by storm-related sales and positive comp sales in pro and online,” the company said in a release.

TIMBER MART has appointed Carolanne Olivier to the position of national advertising manager, effective immediately. Formerly bilingual account manager at TIMBER MART’s advertising agency, Sims Advertising, she replaces existing account manager Geoff Fleming, who is retiring by the end of the year after 20 years at the national buying group.

The latest edition of Hardlines HR Advisor hits inboxes tomorrow. This issue looks at IKEA’s success in reducing staff turnover both in Canada and worldwide, insights shared at the latest Hardlines Conference by leadership expert Pierre Battah, and tips from Lee Valley Tools president and COO Jason Tasse (shown here). HR Advisor is monthly and it’s free: click here to sign up today!

Canadian Tire Corp. has announced it will sell a 90-acre industrial property in Brampton, Ont., for $258 million. The transaction follows a North America-wide competitive bid process initiated in the first quarter of 2024. The company says it no longer needs the site, which includes 1.5 million square feet of industrial real estate, as a distribution centre.