RONA’s Q3 sales dip on increased profits

BOUCHERVILLE, Que. — Consolidated revenues for RONA in its third quarter totalled $1.16 billion, down from $1.17 billion in the third quarter of 2014. This dip results from a 6.9% decrease in distribution segment sales, reflecting in part an early slowdown in purchases by 20 franchised big box stores that RONA acquired during the quarter. However, retail segment sales were up 1.3%, helped by 1.1% growth in same-store sales. RONA reports that the increase in same-store sales reflects the success of the repositioned Reno-Depot banner and a strong performance in Ontario and British Columbia. However, the company reported that difficult market conditions persisted in Alberta and Quebec.