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The Bank of Canada held its central interest rate at five percent on Wednesday, as expected by most economists. Inflation remains a concern, the bank said in a statement. The central bank’s target rate of inflation is two percent. In December, the Consumer Price Index rose to 3.4 percent, up from 3.1 percent a month earlier, StatCan said.

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

In our Jan. 27, 2014 issue of the Hardlines Weekly Report, we ran a story with the headline, “Sexton shuffle moves Buckle into president’s role.”

We reported that Buckle had joined the Sexton Group in 2006 as vice-president and in 2008 became VP and general manager. Before joining Sexton, Buckle had spent more than 20 years in the LBM industry, starting as a sales representative and moving his way up through sales and management. That included working as GM for CanWel in Quebec and as eastern Canadian division GM for Weyerhaeuser. In 2020, Buckle was named CEO of the Sexton Family of Companies.

West Fraser Timber Co. has announced the permanent closure of its Fraser Lake, B.C., sawmill. The company says it has lost cost-effective access to fibre in the region. The approximately 175 affected employees will be offered opportunities at other locations. The closure cuts West Fraser’s lumber capacity by about 160 million board feet.

Lee Valley Tools has taken the top spot in Léger’s annual WOW In-Store report. The study evaluates the in-store experience for consumers in 23 areas in order to offer feedback about how consumers feel about their in-store experience. Lee Valley has moved up the rankings from the number three position last year.

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RONA inc. has announced that it will consolidate its distribution operations and streamline its structure.

The company says it has reviewed its national distribution operations, resulting in the closure of regular operations at its DC in Terrebonne, a suburb of Montreal in the North Shore region, in March. Its DC in Calgary, on 60th Street SE, will close in October 2024. Overall, RONA will be cutting 300 positions throughout its network.

EDITOR’S NOTE: A previous version of this story implied that RONA was cutting 300 positions strictly from its two DCs. Hardlines regrets the error.

Home Hardware Stores Ltd. has been recognized on Forbes’ list of Canada’s Best Employers 2024. Forbes and Statista Inc. co-present this award to recipients based on independent surveys from Canada-based employees who give feedback on their workplace.

Evaluations were based on direct and indirect recommendations from employees who were asked to rate their willingness to recommend their employer to friends and family. These evaluations also included participants’ opinions on a series of work-related topics such as working conditions, salary potential, and company image.

“As Home Hardware Stores Ltd. celebrates our 60th year in business, we remain committed to the values the company was built on,” said Home’s president and CEO Kevin Macnab in a release.

The Bank of Canada will announce whether its five percent central rate will hold this morning, or whether it will lower or raise that rate. Inflation nationwide ticked up to 3.4 percent, from 3.1 percent, in December. As a result, most economists expect the Bank of Canada to hold its key interest rate steady.

Renoworks Software is reaching out to contractor customers with the launch of a Pro Partner program. Through the program, the visualization platform will enable pros to take advantage of co-selling, co-promotion, and referral opportunities.

At the same time, the firm has introduced a new API Hub, allowing partners to create, retrieve, and display 2D and 3D visualizations within their applications, including CRMs, measurement, quoting, estimation, and sales/marketing automation software. They can also access usage data and other analytics to build custom dashboards and trigger-based interactions and experiences.