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Beverly Allen, Publisher Vicky Sanderson, Editor John Caulfield, Contributing Editor Phone: 416-489-3396 Email: bev@HARDLINES.ca |
February 4, 2008, Vol. xiv, #5 |
In This Issue | |||||
“If everything seems under control, you're just not going fast enough.” — Mario Andretti |
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Home Hardware predicts growth in 2008 | |||||
ST. JACOBS, ON — Home Hardware Stores Ltd. saw growth in 2007 from both existing dealers and the 21 stores that joined its network during the year. The company posted retail sales of $4.8 billion in 2007—up from $4.6 billion in 2006—and is on track to continue its growth in 2008. “We’ve seen some solid growth over the past two years and that’s because Home dealers are making the most of the innovative programs available to help them to strengthen their businesses,” Paul Straus, vice-president and CEO, Home Hardware Stores, said in a prepared statement. Initiatives include the Build a Better Home Store program, a partnership with Aeroplan and a new cross-docking facility in Jiaxing, China, which allows the company to better direct containers to its three Canadian distribution centres. | |||||
Lowe's opens second round of Canadian stores | |||||
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Latest appointments strengthen BMR's executive team | |||||
LONGUEUIL , QC — Hot on the heels of changes in its buying affiliations, Groupe BMR, the privately-owned buying group and wholesaler, has, under its CEO Yves Gagnon, promoted some key members of its team.Jean St-Maurice has been appointed senior vice-president. With BMR since 1996, St-Maurice served as director of finance, executive assistant to the president and, most recently, as vice-president, finance. His former role has been assumed by Martin Juneau. Previously, Juneau served as BMR’s director of finance.Reflecting BMR’s growing presence in hardware distribution, and its increased reliance on proprietary products, Christian Nadeau has been promoted to the position of vice-president, hardware. Considered one of the top buyers in the country, Nadeau joined BMR as director of hardware in 2001. There, he developed the import market which today plays an important part in BMR’s purchasing strategy. BMR most recently led a defection from the hardware buying group Mutual Hardware, which resulted in the demise of Mutual. BMR and several other former Mutual members went on to join the OCTO Purchasing group. BMR comprises some 160 building centres in Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Ontario, Nunavut and on the islands of Saint-Pierre and Miquelon. Sales by all members are in excess of $1 billion annually. BMR comprises some 160 building centres in Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Ontario, Nunavut and on the islands of Saint-Pierre and Miquelon. Sales by all members are in excess of $1 billion annually. | |||||
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Jean St-Maurice |
Martin Juneau |
Christian Nadeau |
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Home Depot to lay off 50 workers | |||||
ATLANTA — Home Depot is laying off 500 of the 5,000 employees who work at its headquarters here. Ron DeFeo, the retailer’s corporate spokesman, told the Atlanta Journal-Constitution that the cutbacks are in response to the ongoing downturn in the housing market in the United States, which Home Depot believes will continue through 2008. The newspaper reports that this is the first time that Home Depot— Atlanta’s fifth-largest employer—has cut personnel at its headquarters since it let go 300 employees in the summer of 2006. The affected employees in the recent layoff will be paid through Apr. 4. The company does not plan to reduce its workforce employed in it 2,200 stores. In fact, Home Depot recently announced that it would spend more money in 2008 on bolstering in-store customer service through a program it calls “Aprons on the Floor.” | |||||
Black & Decker reports modest sales gain in 2007 | |||||
TOWSON, MD — Black & Decker saw its revenue increase by 1.8% to $6.56 billion for the year ended Dec. 31, 2007. Its profit for the year would have been off were it not for one-time tax and accounting gains in the fourth quarter. For the year, B&D reported earnings of $518.1 million, a 6.6% increase over 2006. However, those gains included a $153.4 million tax settlement, $31.7 million in pretax charges relating to environmental remediation, and a $19.7 million pretax restructuring charge. Without those factors, B&D’s earnings for the year would have been down 20.6% to $398.1 million. The one bright spot was B&D’s fastening and assembly systems product group, whose sales rose by 6% in the fourth quarter and 4% for the year, mostly on the strength of business in Asia and Europe. | |||||
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Marketplace |
|||||
Sell your company - or buy one - with HARDLINES Classifieds!
Do your executive search, find new lines or get new reps in the HARDLINES Marketplace.
Only $2.75 per word for three weeks in the classifieds.
To place your ad, call Brady Peever at 416-489-3396 or email: brady@HARDLINES.ca
|
|||||
To ensure you receive your HARDLINES newsletter each week, please add admin@HARDLINES.ca to your address book.
Did your email system make this newsletter unreadable? You can read it online instead . Publishing Details: HARDLINES is published weekly (except monthly in December and August) by HARDLINES Inc. 360 Dupont Street Toronto, Ontario, Canada M5R 1V9 © 2008 by HARDLINES Inc. HARDLINES™ the electronic newsletter www.HARDLINES.ca ; Phone: 416.489.3396; Fax: 416.489.6154 Beverly Allen, Publisher - bev@HARDLINES.ca Vicky Sanderson - Editor - vicky@HARDLINES.ca Michael McLarney - President - mike@HARDLINES.ca Brady Peever - Circulation Manager - brady@HARDLINES.ca The HARDLINES "Fair Play" Policy:Reproduction in whole or in part is very uncool and strictly forbidden and really and truly against the law. So please, play fair! Call for information on multiple subscriptions or a site license for your company. We do want as many people as possible to read HARDLINES each week - but let us handle your internal routing from this end! Subscription: $285 (Canadian subscribers add $14.25 GST = $299.25 per year/ GST #13987 0398 RT). Secondary subscriptions at the same office are only $46 (Canadian subscribers add $2.30 GST = $48.30). Ask about our reduced rate for branch offices. You can pay online by VISA/MC/AMEX at our secure website or send us money. Please make cheque payable to HARDLINES. |
************************************ Mark your calendar now—October 23 & 24 for the amazing Annual Hardlines Conference. And watch for more details in next week’s action-packed issue! ************************************ |
COMPANIES IN THE NEWS |
MISSISSAUGA, ON — Wal-Mart Canada has launched a communication and advertising campaign to promote its environmental goals, which include producing zero waste, being entirely powered by renewable energy, and increasing its selection of environmentally-friendly products. The campaign includes a 30-second television spot and online ads that support a website for consumers at www.forthegreenergood.ca. BURNABY, BC — A $2.1 million charge related to the discontinuation of an enterprise resource planning project by Taiga contributed to a $1.9 million loss for the company in 3Q 2007. That compares with a gain of $2.1 million for the same period in 2006, which included Canada/US softwood refunds. Revenue for the same period was $235 million, compared to $232 million a year earlier, despite benchmark average prices for lumber being 12.5% lower than the third quarter of the prior year. TORONTO — More than three quarters (87%) of small and medium-sized businesses in Canada experienced retail crime over the past year, according to a survey conducted by the Retail Council of Canada and the Royal Bank of Canada. The retailers surveyed estimate that employee or customer theft and break-ins cost an average of $1,005 per month. NEW YORK — More than half of all Internet users bought products online in the last month, according to a Nielsen survey. Last year, 85% of the online population across the globe used the Internet to make a purchase, an increase of 40% over the last two years. Among Internet users, the highest percentage of online shopping is found in South Korea, where 99% of those with Internet access have used it to make purchases. ATLANTA — Newell Rubbermaid Inc. reported a 3.1% rise in profit on essentially flat sales in 4Q 2007. The company earned $105.4 million, compared to a profit of $102.2 million for the same period a year earlier. CEO Mark Ketchum described the progress made by the company as “good”, adding that it has worked hard at “executing numerous restructuring projects, making the necessary investments to become a more consumer-centric and global branded marketing organization, and embracing cultural change, all while delivering on our full year financial commitments.” TYNESIDE , UK — Ikea’s first generation of pre-fabricated housing, called BoKlok concept homes, went on show here last week when a two-bedroom apartment, one of 93 planned, was opened for viewing by the media. Prices start at £99,950 for a one-bedroom flat, and rise to £124,950 for a two-bedroom apartment, while houses start at £132,500. The British firm Live Smart@Home has the exclusive rights to build the homes in the U.K. |
People on the move |
Dino Policelli has been named national account manager for the Robert Bosch Tool Corp. with responsibility for Sears, Canadian Tire, and Wal-Mart. At Fiskars Brands, Jeff Bates has been added to the national accounts team...Deb Sreiberg has joined the product management team...Carolin Pabon is the new customer service manager. Sears Holdings will install W. Bruce Johnson, its executive vice-president of supply chain and operations, as its new CEO after the company accepted the resignation of its current chief, Aylwin Lewis. Kingfisher plc has appointed Ian Cheshire as its new CEO. He succeeds Gerry Murphy, who held the post for five years. John Menzer, vice-chairman of Wal-Mart, will retire on March 1. |
Economic Indicators |
In January, the proportion of manufacturers planning to decrease production over the next three months stood at 33%, a nine-point jump from October. Ontario, Quebec, Alberta, New Brunswick and Newfoundland and Labrador posted negative forecasts, while opinions were positive in the five remaining provinces. (StatsCan)Economic activity increased 0.1% in November, when output of the service industries increased 0.2%, while the production of goods declined 0.2%. Retail trade, which came in with a 0.4% gain, posted one of the strongest advances. Small increases were also registered in construction and utilities. Forestry, manufacturing, mining and wholesale trade declined. (StatsCan) |
Correction |
In the Jan. 28 edition of Hardlines, an item about the Western Show incorrectly identified the company sponsoring an appearance by Mike Holmes. Holmes appeared courtesy of SuperSeal. |
![]() |
Beverly Allen, Publisher Vicky Sanderson, Editor John Caulfield, Contributing Editor Phone: 416-489-3396 Email: bev@HARDLINES.ca |
February 4, 2008, Vol. xiv, #5 |
In This Issue | |||||
“If everything seems under control, you're just not going fast enough.” — Mario Andretti |
|||||
Home Hardware predicts growth in 2008 | |||||
ST. JACOBS, ON — Home Hardware Stores Ltd. saw growth in 2007 from both existing dealers and the 21 stores that joined its network during the year. The company posted retail sales of $4.8 billion in 2007—up from $4.6 billion in 2006—and is on track to continue its growth in 2008. “We’ve seen some solid growth over the past two years and that’s because Home dealers are making the most of the innovative programs available to help them to strengthen their businesses,” Paul Straus, vice-president and CEO, Home Hardware Stores, said in a prepared statement. Initiatives include the Build a Better Home Store program, a partnership with Aeroplan and a new cross-docking facility in Jiaxing, China, which allows the company to better direct containers to its three Canadian distribution centres. | |||||
Lowe's opens second round of Canadian stores | |||||
![]() ![]() |
|||||
Latest appointments strengthen BMR's executive team | |||||
LONGUEUIL , QC — Hot on the heels of changes in its buying affiliations, Groupe BMR, the privately-owned buying group and wholesaler, has, under its CEO Yves Gagnon, promoted some key members of its team.Jean St-Maurice has been appointed senior vice-president. With BMR since 1996, St-Maurice served as director of finance, executive assistant to the president and, most recently, as vice-president, finance. His former role has been assumed by Martin Juneau. Previously, Juneau served as BMR’s director of finance.Reflecting BMR’s growing presence in hardware distribution, and its increased reliance on proprietary products, Christian Nadeau has been promoted to the position of vice-president, hardware. Considered one of the top buyers in the country, Nadeau joined BMR as director of hardware in 2001. There, he developed the import market which today plays an important part in BMR’s purchasing strategy. BMR most recently led a defection from the hardware buying group Mutual Hardware, which resulted in the demise of Mutual. BMR and several other former Mutual members went on to join the OCTO Purchasing group. BMR comprises some 160 building centres in Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Ontario, Nunavut and on the islands of Saint-Pierre and Miquelon. Sales by all members are in excess of $1 billion annually. BMR comprises some 160 building centres in Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Ontario, Nunavut and on the islands of Saint-Pierre and Miquelon. Sales by all members are in excess of $1 billion annually. | |||||
![]() |
![]() |
![]() |
|||
Jean St-Maurice |
Martin Juneau |
Christian Nadeau |
|||
Home Depot to lay off 50 workers | |||||
ATLANTA — Home Depot is laying off 500 of the 5,000 employees who work at its headquarters here. Ron DeFeo, the retailer’s corporate spokesman, told the Atlanta Journal-Constitution that the cutbacks are in response to the ongoing downturn in the housing market in the United States, which Home Depot believes will continue through 2008. The newspaper reports that this is the first time that Home Depot— Atlanta’s fifth-largest employer—has cut personnel at its headquarters since it let go 300 employees in the summer of 2006. The affected employees in the recent layoff will be paid through Apr. 4. The company does not plan to reduce its workforce employed in it 2,200 stores. In fact, Home Depot recently announced that it would spend more money in 2008 on bolstering in-store customer service through a program it calls “Aprons on the Floor.” | |||||
Black & Decker reports modest sales gain in 2007 | |||||
TOWSON, MD — Black & Decker saw its revenue increase by 1.8% to $6.56 billion for the year ended Dec. 31, 2007. Its profit for the year would have been off were it not for one-time tax and accounting gains in the fourth quarter. For the year, B&D reported earnings of $518.1 million, a 6.6% increase over 2006. However, those gains included a $153.4 million tax settlement, $31.7 million in pretax charges relating to environmental remediation, and a $19.7 million pretax restructuring charge. Without those factors, B&D’s earnings for the year would have been down 20.6% to $398.1 million. The one bright spot was B&D’s fastening and assembly systems product group, whose sales rose by 6% in the fourth quarter and 4% for the year, mostly on the strength of business in Asia and Europe. | |||||
|
|||||
Marketplace |
|||||
Sell your company - or buy one - with HARDLINES Classifieds!
Do your executive search, find new lines or get new reps in the HARDLINES Marketplace.
Only $2.75 per word for three weeks in the classifieds.
To place your ad, call Brady Peever at 416-489-3396 or email: brady@HARDLINES.ca
|
|||||
To ensure you receive your HARDLINES newsletter each week, please add admin@HARDLINES.ca to your address book.
Did your email system make this newsletter unreadable? You can read it online instead . Publishing Details: HARDLINES is published weekly (except monthly in December and August) by HARDLINES Inc. 360 Dupont Street Toronto, Ontario, Canada M5R 1V9 © 2008 by HARDLINES Inc. HARDLINES™ the electronic newsletter www.HARDLINES.ca ; Phone: 416.489.3396; Fax: 416.489.6154 Beverly Allen, Publisher - bev@HARDLINES.ca Vicky Sanderson - Editor - vicky@HARDLINES.ca Michael McLarney - President - mike@HARDLINES.ca Brady Peever - Circulation Manager - brady@HARDLINES.ca The HARDLINES "Fair Play" Policy:Reproduction in whole or in part is very uncool and strictly forbidden and really and truly against the law. So please, play fair! Call for information on multiple subscriptions or a site license for your company. We do want as many people as possible to read HARDLINES each week - but let us handle your internal routing from this end! Subscription: $285 (Canadian subscribers add $14.25 GST = $299.25 per year/ GST #13987 0398 RT). Secondary subscriptions at the same office are only $46 (Canadian subscribers add $2.30 GST = $48.30). Ask about our reduced rate for branch offices. You can pay online by VISA/MC/AMEX at our secure website or send us money. Please make cheque payable to HARDLINES. |
************************************ Mark your calendar now—October 23 & 24 for the amazing Annual Hardlines Conference. And watch for more details in next week’s action-packed issue! ************************************ |
COMPANIES IN THE NEWS |
MISSISSAUGA, ON — Wal-Mart Canada has launched a communication and advertising campaign to promote its environmental goals, which include producing zero waste, being entirely powered by renewable energy, and increasing its selection of environmentally-friendly products. The campaign includes a 30-second television spot and online ads that support a website for consumers at www.forthegreenergood.ca. BURNABY, BC — A $2.1 million charge related to the discontinuation of an enterprise resource planning project by Taiga contributed to a $1.9 million loss for the company in 3Q 2007. That compares with a gain of $2.1 million for the same period in 2006, which included Canada/US softwood refunds. Revenue for the same period was $235 million, compared to $232 million a year earlier, despite benchmark average prices for lumber being 12.5% lower than the third quarter of the prior year. TORONTO — More than three quarters (87%) of small and medium-sized businesses in Canada experienced retail crime over the past year, according to a survey conducted by the Retail Council of Canada and the Royal Bank of Canada. The retailers surveyed estimate that employee or customer theft and break-ins cost an average of $1,005 per month. NEW YORK — More than half of all Internet users bought products online in the last month, according to a Nielsen survey. Last year, 85% of the online population across the globe used the Internet to make a purchase, an increase of 40% over the last two years. Among Internet users, the highest percentage of online shopping is found in South Korea, where 99% of those with Internet access have used it to make purchases. ATLANTA — Newell Rubbermaid Inc. reported a 3.1% rise in profit on essentially flat sales in 4Q 2007. The company earned $105.4 million, compared to a profit of $102.2 million for the same period a year earlier. CEO Mark Ketchum described the progress made by the company as “good”, adding that it has worked hard at “executing numerous restructuring projects, making the necessary investments to become a more consumer-centric and global branded marketing organization, and embracing cultural change, all while delivering on our full year financial commitments.” TYNESIDE , UK — Ikea’s first generation of pre-fabricated housing, called BoKlok concept homes, went on show here last week when a two-bedroom apartment, one of 93 planned, was opened for viewing by the media. Prices start at £99,950 for a one-bedroom flat, and rise to £124,950 for a two-bedroom apartment, while houses start at £132,500. The British firm Live Smart@Home has the exclusive rights to build the homes in the U.K. |
People on the move |
Dino Policelli has been named national account manager for the Robert Bosch Tool Corp. with responsibility for Sears, Canadian Tire, and Wal-Mart. At Fiskars Brands, Jeff Bates has been added to the national accounts team...Deb Sreiberg has joined the product management team...Carolin Pabon is the new customer service manager. Sears Holdings will install W. Bruce Johnson, its executive vice-president of supply chain and operations, as its new CEO after the company accepted the resignation of its current chief, Aylwin Lewis. Kingfisher plc has appointed Ian Cheshire as its new CEO. He succeeds Gerry Murphy, who held the post for five years. John Menzer, vice-chairman of Wal-Mart, will retire on March 1. |
Economic Indicators |
In January, the proportion of manufacturers planning to decrease production over the next three months stood at 33%, a nine-point jump from October. Ontario, Quebec, Alberta, New Brunswick and Newfoundland and Labrador posted negative forecasts, while opinions were positive in the five remaining provinces. (StatsCan)Economic activity increased 0.1% in November, when output of the service industries increased 0.2%, while the production of goods declined 0.2%. Retail trade, which came in with a 0.4% gain, posted one of the strongest advances. Small increases were also registered in construction and utilities. Forestry, manufacturing, mining and wholesale trade declined. (StatsCan) |
Correction |
In the Jan. 28 edition of Hardlines, an item about the Western Show incorrectly identified the company sponsoring an appearance by Mike Holmes. Holmes appeared courtesy of SuperSeal. |