RONA posts Q1 losses, banks on success of new-look Réno-Dépôt

BOUCHERVILLE, Que. — Store closures and the renovation of 11 Réno-Dépôt outlets contributed to a drop in revenues for RONA, with consolidated revenues of $764.3 million down 8.2% from $832.9 million for the first quarter of 2013.

The decrease primarily reflects the closure of underperforming stores, harsher weather conditions that had a negative impact on stores that sell building materials in Quebec and Ontario, and more difficult conditions in the industry as a whole stemming mainly from a decline in housing starts across the country. Sales were also affected by major renovations at Réno-Dépôt stores as that banner was re-positioned during 2013…