RONA year-end: tough market hampers turnaround

BOUCHERVILLE, Que. — RONA inc. saw year-end sales from continuing operations drop 5.7%, from $4.444 billion in 2012 to $4.192 billion. Same-store sales fell 1.9%. The company’s fiscal year and fourth quarter in 2012 had one more week than in 2013. Excluding the extra week, the decrease reflects the closure of under-performing stores and a difficult year for most of the industry. Net loss from continuing operations was $45.9 million in 2013, down from net income of $12.3 million.

“Fiscal 2013 was a year of profound organizational change at RONA, against the backdrop of a difficult market context for our industry,” said Robert Sawyer, president and CEO of RONA.