November 21, 2016 Volume
xxii, #44
“Canada: the language of France with the culture of Minnesota.”
—Stephen Colbert (American humourist, actor, and television host, 1964- )
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Lowe’s, Home Depot turn in strong Q3 results on continued U.S. recovery
MOORESVILLE, N.C. & ATLANTA ― Third-quarter results for the industry’s two largest players showed strong gains as housing continues to recover and consumers keep spending in America. And though results for both companies may vary slightly for their Canadian operations, Home Depot and Lowe’s remain secure in their positions as the number-one and number-two retail players respectively in this country.
Home Depot was first to announce its results last week, turning in sales of $23.15 billion, up 6.1% over the previous-year quarter. Profits climbed 14.1% to $1.98 billion, while same-store sales were up 5.5%. Canada reported positive same-store sales in local currency marking 20 consecutive quarters of positive same-store sales growth. However, the company would not reveal any more details about its performance in Canada.
The company maintains its outlook that sales will rise 6.3% for the year.
Lowe’s sales in the same period increased 9.6% to $15.7 billion from $14.4 billion in the third quarter of 2015, with same-store sales up 2.7%. Profits of $379 million were negatively impacted by the costs related to the wind-down of its business interests in Australia (a failed joint-venture with Woolworths to build the Masters chain of big boxes), the acquisition of RONA in Canada, and costs related to its development of the Orchard Supply home centre business.
For the nine-month period, Lowe’s sales were $49.2 billion, a 7.4% increase over the same period a year ago, and comparable sales increased 3.9%. Same-store sales in the U.S. increased 2.6% for the third quarter and 3.9% for the nine-month period. Lowe’s outlook for the year maintains a 9 to 10% increase in sales, with same-store sales expected to rise 3 to 4%.
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BMR adds barbecue boutiques to some of its stores
BOUCHERVILLE, Que. — Groupe BMR and BBQ Québec are teaming up to bring BBQ Québec products across the province over the next few weeks. The popular Quebec barbecue lines will be featured in sections within BMR and Unimat stores, which will help the BBQ Québec brand expand beyond the handful of stores it currently possesses.
About 20 stores will feature permanent BBQ Québec “Zones” where customers will find the entire BBQ Québec-branded range of grills, accessories, wood chips, sauces, and spices. At least 80 more stores are expected to take on some of the BBQ Québec lines. The brand has developed a following in the province, catering to barbecue lovers with unique products, services, clothing such as hats and shirts, and even cooking lessons.
“We are very happy to be partnering up with BBQ Québec to make our stores the number-one destination for barbecue lovers! With this decision, we are meeting an increasing demand from our customers who enjoy barbecuing all year round,” said Pascal Houle, CEO of Groupe BMR. “And we are proud to do so with a fellow Quebec-owned company known for its dynamic leadership.”
BBQ Québec was founded in 2014 by brothers Max and Jean-Philippe Lavoie, who got their start in the industry as youngsters working in their parents’ hardware store. They opened their first BBQ Québec store in Sainte-Foy in 2014. They went on to open a second one in Boucherville in 2015 and a third store in Laval in 2016.
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Doug Lemieux recognized by WRLA with Industry Achievement Award
VAUGHAN, Ont. — Doug Lemieux, president of L.B.H. Building Centre in St. Albert, Alta., has received the Western Retail Lumber Association’s highest honour, the 2016 WRLA Industry Achievement Award.
Nominated by TIMBER MART and chosen by the WRLA, Lemieux was recognized for his years of dedication to the LBM industry, the development of his local community, and the support of various not-for-profit organizations, including the WRLA.
Lemieux credited his company’s success to the decision to join the TIMBER MART group, which has “assisted us in creating relationships with our vendor partners, provided us with exceptional buying programs, and the tools we’ve needed to be successful long term,” he said. The WRLA has presented the award since 1970.
Lemieux made news last year when he won the Marc Robichaud Community Leader Award at Hardlines’ Outstanding Retailer Awards. And his uncle, Vic Lemieux, was awarded the WRLA Industry Achievement Award in 2015. Vic established Econo TIMBER MART in 1970 in Prince Albert, Sask.
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Introducing the newest member of the HARDLINES Team
WORLD HEADQUARTERS, TORONTO — David Chestnut has joined Hardlines Inc. as Vice President, Business Development.
David has been an advertising/media leader and an innovator for 20 years in the Canadian home improvement industry. A native of Sussex, N.B., he moved to Toronto in 1996 and joined the staff of the now-defunct Rogers trade publication Hardware Merchandising. He was promoted to associate publisher in 1999. A year later, he helped launch Canadian Contractor magazine. In 2007, he was promoted to publisher of Rogers’ home improvement trade publications division, directing the sales, editorial, production, and distribution of Professional Painter and Builders Choice magazines, in addition to his continuing work with Hardware Merchandising and Canadian Contractor.
He launched Renovation Contractor magazine in 2010. Under his direction, the publication achieved numerous awards. Most recently, he worked on the digital properties of Student Life and Parent Life Networks, gaining invaluable experience in digital and video marketing.
A consistent winner of Rogers’ “Overachiever” sales awards for exceeding annual targets, David has also served on the advisory board for the Canadian Home Improvement Show and was a consultant on the successful launch of the industry’s number-one trade magazine for retailers, Hardlines Home Improvement Quarterly.
Over the course of his career, David has forged very close ties with the leading manufacturers, distributors, and agencies that make the marketing and sponsorship decisions in Canada’s $45 billion home improvement industry.
You can reach David at david@hardlines.ca or 416-725-7992.
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TIMBER MART has added to its lumber-trading team into Atlantic Canada with the appointment of John Fluke as commodity trader. In this role, Fluke will serve as a resource for TIMBER MART members in the Atlantic by sourcing commodity products, securing buying opportunities, and managing TIMBER MART’s pressure-treated lumber program in the region. Previously, he spent 18 years as commodities manager in the Atlantic for Lighthouse Lumber-AFA Forest Products. Fluke will report directly to TIMBER MART’s Vice-President of Distribution and Trading John Morrissey and be based out of the TIMBER MART office in Dartmouth, N.S. With this latest appointment, TIMBER MART’s lumber-trading team consists of four commodity traders in total: two in Ontario, one in Quebec, and one in the Atlantic.
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CLASSIFIED ADS
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With more than 20 years as the publication of choice, thousands of people in the Home Improvement Industry receive HARDLINES every week. A classified ad is the ideal means to promote your job posting needs. Whether you’re filling an unexpected opening or looking for top talent to grow your business, HARDLINES is your go-to place to reach people who match the skills and experience you seek.
For more information and a free quote, email Maggie MacKinlay at maggie@hardlines.ca or call 416-489-3396, extension 6.
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