Throwback Thursday: 10 years ago, RONA’s results reflected “a difficult year” for the industry

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

Almost ten years ago, on Feb. 24, 2014, we ran a story about RONA’s year end. Sales had dropped 5.7 percent in 2013 to $4.19 billion, from $4.44 billion in 2012. Same-store sales had fallen 1.9 percent. “The decrease reflects the closure of under-performing stores and a difficult year for most of the industry,” we wrote.

“On the upside, RONA managed annualized cost savings of $110 million, a goal the company had set out to achieve last year. In addition, it has not had to dip too deeply into its credit lines: as of year-end, it had used $45.0 million on credit facilities of $700 million, compared to $171.9 million in 2012.”