Reno boom feeds Richelieu gains

Richelieu Hardware said its Q1 sales came to $297.6 million, a 19.3 percent increase mainly from internal growth.

“Those increases are the result of the favourable fallout from the strong demand in the renovation market,” CFO Antoine Auclair said. Net earnings rose by 78.3 percent to $21 million. Diluted net earnings were $0.37 per share, up 76.2 percent from $0.21 per share in Q1 of 2020.