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May 26, 2014 Volume
xx, #21
“I thought I’d have some answers by now.”—Mark Oliver Everett (American singer and songwriter, leader of the rock band the Eels, 1963- )
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Tim Urquhart joins Slegg Lumber as general manager
VICTORIA — The former CEO of TIM-BR MART Group has joined Slegg Lumber & Construction Materials Ltd. as that company’s general manager.
Urquhart was formerly president and CEO of TIM-BR MART Group until his sudden departure last fall. Ron Slegg, one of the brothers who own Slegg Lumber, had been chairman of TIM-BR MART Group during most of Urquhart’s tenure. Slegg stepped down from the chairman position in February 2013, shortly after his company opened its 10th retail outlet. The company also has door and truss manufacturing, and a pre-hung door plant. Now Urquhart has been brought in to take over the day-to-day management of the company.
“It’s a great landing for me, because I worked directly for Ron in his role as chair at TIM-BR MART for nine and a half years” says Urquhart. “I’m thrilled to be working for him and taking the reins of this great company.” He has moved from Calgary to Victoria, close to Slegg’s head office in nearby Sidney.
Slegg Lumber is considered the largest dealer on Vancouver Island, and one of the largest dealers by sales volume in the TIM-BR MART organization.
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Lowe’s and Home Depot report varying Q1 results for Canada
MOORESVILLE, N.C. & ATLANTA — The world’s two largest home improvement retailers both turned out positive results for their first quarters. But they experienced varying results here in Canada.
The Home Depot reported first-quarter net earnings of $1.4 billion, or $1.00 per diluted share, compared with net earnings of $1.2 billion, or $0.83 per diluted share, in the same period of fiscal 2013. Diluted earnings per share increased 20.5% from the same period in the prior year.
“The first quarter was impacted by a slow start to the spring selling season. But we had solid results in non-weather impacted markets and expect our sales for the year to grow in line with the guidance we previously provided,” said Frank Blake, Home Depot’s chairman and CEO.
Lowe’s Cos. reported net earnings of $624 million for the quarter ended May 2, a 15.6% increase over the same period a year ago. Diluted earnings per share increased 24.5% to $0.61. Sales for the first quarter increased 2.4% to $13.4 billion from $13.1 billion a year ago, and same-store sales increased 0.9%.
Total sales for Home Depot for the first quarter of fiscal 2014 were $19.7 billion, a 2.9% increase that's similar to Lowe's results. Same-store sales for the first quarter were positive 2.6%, and same-store sales for its U.S. stores were positive 3.3%.
And while the long, cold winter that affected the entire industry through most of North America took its toll on most retailers, Home Depot’s numbers in Canada were lower than in the U.S., while Lowe’s comps surged.
HARDLINES estimates same-store sales growth for Home Depot Canada at less than 2%. “… [W]e expected more normal weather for this spring. Instead, much of the U.S. and Canada had an even colder spring and this had a significant impact on our sales,” said Blake.
Lowe’s business in Canada saw more positive growth, however. “I am pleased to share that our team in Canada delivered double-digit comps in local currency for the fourth consecutive quarter,” said Robert Niblock, Lowe’s chairman, president, and CEO.
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Superior Plus looking to sell off Construction Products Business
CALGARY — Since turning in its year-end results earlier this year, Superior Plus has decided to seek a buyer for its Construction Products Business. The division, which includes LBM wholesaler Winroc and the Allroc buying group, as well as a chain of ICI outlets in the U.S., accounts for about $74 million of the company’s $3.75 billion in total revenues.
While the business had enjoyed good growth prior to the worldwide recession in 2008, the purchase of Specialty Products & Insulation (SPI) in 2009, which became part of the same division as the Winroc business, may have provided the company with a low-cost acquisition, but that business was slow to recover during the slowdown south of the border. The slow recovery in Canada has hampered sales domestically as well. Superior has retained BMO Capital Markets as a financial advisor, and following a review, the company’s board “has authorized the commencement of a formal process to solicit and assess offers for the potential divestiture of Superior's Construction Products Business.”
The division continued to stumble during the first quarter, ended March 31. Even though Superior Plus Corp. showed a profit of $276.6 million on sales of $1.28 billion. EBITDA for the Construction Products Business fell from $5.0 million last year to $4.5 million in the latest quarter. However, gross profit was higher than the prior year quarter due to improved average selling prices and higher average sales margins.
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RONA sets sights on dealer support, more possible acquisitions
BOUCHERVILLE, Que. — RONA’s high-profile properties such as Réno-Dépôt and Totem were considered the top priorities that needed fixing under the leadership of Robert Sawyer when he took over in late 2012. He had great pressure from his board to satisfy bottom-line concerns for the sake of investors, while the optics of RONA’s attitude to its independent dealers sent a chill throughout the industry.
Luc Rodier, executive vice president–retail, for RONA, defends the strategy, saying, “We needed to make dramatic changes to those banners to ensure the profitability was there.”
However, in recent months, the company has made great strides to pay more attention to its independents. A wholesale division was created that has resources committed solely to those independents. Buyers are working to develop programs that suit independents, not big boxes. Support programs, including flyers and merchandising terms, are being tailored separately for the big boxes, Réno-Dépôt, and its traditional building centre format, the proximity stores. Most of its independents fit into this category.
And RONA is flush with cash, with $25.6 million on hand at the end of the first quarter. “We always welcome looking at a potential acquisition—at the right value,” says Rodier. “RONA is in a very, very good position financially. But we’re going to be very careful and make the right acquisitions.”
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HARDLINES TV: What we saw at the National Hardware Show
LAS VEGAS — Yes, we saw all kinds of cool stuff—new products and crazy innovations, tons of buyers, agents and vendors from Canada—while walking the National Hardware Show recently. But with all the news going on back home, we haven’t had room to tell you about it in HARDLINES. So why not just click here and see for yourself what we discovered during our latest visit to Las Vegas?
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Rebound in U.S. will bolster Canada, says TD economist
TORONTO — The best news for Canada’s sluggish economy is the steady recovery taking place below the border. That was the central message from Craig Alexander, senior vice president and chief economist for TD, when he spoke recently at the annual general meeting of the Canadian Hardware and Housewares Manufacturers Association.
“I’m actually quite upbeat about the prospects in the U.S.,” he said, attributing this attitude to the burgeoning housing market, even though, he pointed out, prices are still depressed in some areas due to oversupply. He added that a tight fiscal policy by the Obama government kept the U.S. economy from springing back more quickly.
House prices are now within 10% of pre-recession levels, he said, and the energy sector (especially development of shale oil beds) is strong and expected to grow by 3% this year.
He offered some sobering thoughts on the state of the economy here at home, by comparison. “The Canadian economy is no longer outperforming the U.S. economy, so that advantage is gone.” He forecasts the Canadian dollar landing at 85-88 cents compared to the U.S. dollar.
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Classified Ads
Retail National Accounts Sales Manager, Toronto based
A brand champion selling to home improvement retailers and mass merchants, this Canadian subsidiary is pursuing additional business and would be the perfect home for a sales driven, customer-intimate sales leader who wants responsibility for the strategic management of key Canadian national accounts. Specific duties will include:
- Development and management of senior level relationships with key retailer personnel including merchants, directors and buyers;
- Development and execution of a comprehensive plan to drive sales and profitability, including detailed tactics required to meet strategic objectives;
- Field analysis and recommendations on key trends, competitive activity, and general marketplace activity;
- Overcoming problems and finding satisfactory customer resolution;
- Assisting in the facilitation of corporate projects and initiatives including, but not limited to, new products, pricing, promotions, and training programs.
Requirements:
- Key Account management: the ability to provide input into new category ideas or solutions. Also able to solicit and understand Customer feedback and make appropriate recommendations to further increase penetration, sales and profitability.
- Current or past successes in a retail national accounts role.
- Possess the skill set to analyze product category for competitive positioning and marketing or promotional opportunities.
- Resourceful; innovative, can find information when the answer is not known.
- Self-driven, competitive, team oriented, wants to be the “Category Captain”.
This is an excellent career opportunity with a market leader in a collaborative, cohesive environment. Interested? Please forward your resume quoting NAM-Toronto to resumes@wolfgugler.com. Please note all responses will be forwarded directly to our client for their review and action. If there are any companies that you do not wish your resume forwarded to, please indicate those in your email and we will exclude your application.
Wolf Gugler Confidential Recruitment Advertising, a division of Wolf Gugler Executive Search. www.wolfgugler.com. 888-848-3006. Offices in Canada and the U.S.
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National Sales Manager
Taymor
We are positioning for our next level of growth and require an experienced National Sales Manager – Retail to drive our sales growth with retailers nationally.
The primary functions of this role are to Manage, Lead, and Develop our team of sales reps and agents nationally selling Doorware and Bathware though Canadian retailers, and to develop, qualify, and implement strategic and tactical selling plans for Doorware and Bathware though Canadian retailers. You have experience in managing, leading and developing a sales team selling to Canada’s leading home improvement retailers. For complete details and to apply, visit our website.
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Business Development Manager
Nova Scotia, New Brunswick
& Prince Edward Island
Castle Building Centres Group is an industry leader among Buying Groups in the Lumber and Building Materials segment in Canada. We are currently seeking to add a position in the Atlantic region.
You are a highly motivated individual with strong relationship and communication skills that can manage and develop our future growth in the Nova Scotia, New Brunswick and Prince Edward Island markets. This position requires an individual who is familiar with the Lumber and Building Supply industry, willing to travel, accustomed to working remote from Head Office and currently residing within the Maritimes.
Reporting to the President, you welcome the opportunity to work with a dynamic group of independent LBM dealers while planning and executing our future growth initiatives. Providing continual communication to our Members while understanding their needs is fundamental to your success. Sound computer and presentation skills; combined with good administrative qualities are imperative.
Castle Building Centres Group offers a comprehensive compensation package including full benefits.
All submissions will be treated with complete confidentiality. Please forward your resume in confidence to:
Yvonne Patton
Castle Building Centres Group Ltd.
100 Milverton Drive, Suite 400
Mississauga, Ontario
L5R-4H1
E-mail: ypatton@castle.ca
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TORBSA is a Shareholder-owned Canadian Buying Group of independent building material dealers established in 1966. The Group’s focus is to offer the independent business, whether it is a Commercial or Specialty Dealer or Lumber Yard, a transparent, low-cost, and relationship driven choice. It is the Group’s collective buying power that allows us to develop, negotiate and facilitate opportunities to grow the Shareholders’ businesses.
Job Opportunity
Business Development Manager
Under the supervision of the General Manager, the Business Development Manager will be responsible for growing TORBSA Limited’s presence across the Canadian marketplace. As the Business Development Manager, your duties will also include the facilitation of selected communications and job responsibilities, as outlined below:
Role
- Promote mission and values of the organization
- Solicit, establish, and maintain business relationships with prospective independent building material dealers to generate growth of the group across the Canadian marketplace
- Aid in the support of existing shareholders
- Research sources for developing prospective shareholders and further information to determine their potential
- Participate in trade shows and conventions related to the building or construction sectors
- Assist in the management of various marketing programs and special buys of products that are pooled purchases available to all member companies
Skills
- Undergraduate degree required - preference given to studies in engineering, sales & marketing
- 10 - 15 years of direct work experience in the building material supply sector
- Excellent organizational, strategic, planning and implementing skills that will benefit each member as well as the Group as a whole
- Strong presentation, communication and written skills are considered a valuable asset
- Ability to speak French is an asset
- Must be computer literate
- Ability to become proficient in the management and modification of the Group’s website
- Excellent negotiation skills are highly desired
- Knowledge of building materials and the building material industry is a strong asset
- Knowledge of buying groups and how they function in our marketplace essential
- Must possess a willingness to travel relevant to the growth aspirations of TORBSA
- Proven abilities to develop and maintain excellent internal and external relationships with the staff of TORBSA, the members of the Group and all vendors that make TORBSA the success it is
To Apply: Please forward current Resume and Cover Letter to cheryl@torbsa.com . Indicate Job Title in subject line.
We will accept resumes for this posting up to May 25th
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Fusion Products Limited
Inside Sales Support Associates
Fusion Products Ltd. is a leading supplier of solar garden lighting to the Canadian marketplace, with head office in Mississauga, Ontario. The company is seeking two positions: both are Inside Sales Support Associates. One position requires a bilingual (French and English) candidate, and the other position requires an English candidate—both preferably with experience in the hardware industry.
Each Inside Sales Support Associate will focus on Home Improvement retailers in specific regions to promote Fusion products, develop new business, support agents, provide product knowledge to retail associates and work industry trade shows. Must have proficiency in Microsoft office including power point. Competitive compensation package offered.
To apply for this exciting employment opportunity, please send your resume and cover letter to: zaf@fusionproducts.ca
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