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1335 Morningside Ave.
Suite 101
Scarborough, Ontario
M1B 5M4
T:(416) 282-0022
F:(416) 282-0027
W:www.chhma.ca

 
   
 

     Volume 15, Issue 47, December 16, 2015   


Inside This Issue:

• President’s Year-End Message
• Register Now for Complimentary Wealth Management Seminar - February 10, 2016
• Decoding the Mysteries of Managing Millennials Seminar – January 28, 2016
• CSSA Updates: Voluntary Steward Deadlines Fast Approaching; MMSW Program Set to Launch; Stewardship Ontario News
• Federal Government Moves to Cool Hot Housing Markets with New Down Payment Rules
• Sears Canada’s New Management Team has a Plan to Revive the Struggling Store
• Former Landlords Push Target Canada on Details of RioCan Settlement
• Newell Rubbermaid to Buy Jarden Corp. for Approx. $13.2 Billion
• Hudson’s Bay Co. Swings to Profit in Q3 But Cuts Sales Outlook
• Mobile Pay Wars Heat Up as Wal-Mart Launches Own Mobile System
• Dollarama Sees Good Results in Q3 But Expects Bumpy Road Ahead Due to Currency
• Sales of Existing Homes Rise in November; CREA Updates Resale Housing Forecast
• Latest U.S. Economic News

                    

                          Association News                         
                                                                
President’s Year-End Message

Seasons Greetings CHHMA Members,

Winding down another year is a time to reflect on what is going on in both our work and personal lives. My wish for all of you is that things are going well and you have been able to adjust and adapt to the rapid changes taking place.

This past year has been another challenging one for vendors and it is not likely that it will get any easier going into 2016. Here is a quote from my message last year at this time, it appears not much has changed!

“The weakness in the Canadian dollar, falling oil prices and the rising attention being placed on Canada vs USA pricing may make getting the necessary price increases accepted by retailers more difficult.”

The Board and management have been reviewing everything the CHHMA does and how we communicate with our members. Understanding the pressure our members face at work and at home, we are constantly looking at what we can do to make your life easier. Please remember everything we do at the Association is done to assist our members in running a more profitable business. Watch for a few key announcements over the next few weeks.

As you prepare for the upcoming year, we at the CHHMA wish you all the best through the festive season and hope you enjoy time with family and friends.

My personal thanks go to the Board, our committee members and our dedicated staff, without them we could not continue to provide the services we do. On their behalf, I would like to thank you for your support and wish you a safe, peaceful and enjoyable holiday season and a very happy and successful 2016.

Yours sincerely,

 
Vaughn W. Crofford
President 



  Register Now for Complimentary Wealth Management Seminar - February 10, 2016

TD Wealth, Geoff Kidder (Investment Adviser to the CHHMA) and a team of financial experts are thrilled to offer an exclusive and insightful morning of knowledge that you can immediately put into action to start earning better returns on your investments, pay less tax, and ensure you are on the road to achieving financial peace-of-mind.

This wealth management seminar is complimentary to CHHMA members and will be held on Wednesday, February 10, 2016 at the International Centre (Conference Facility) in Mississauga, ON.

Registration and hot breakfast will take place from 8:00 to 9:00 a.m. followed by presentations from 9:00 to 11:30 a.m.  Read More >>


 
Decoding the Mysteries of Managing Millennials Seminar – January 28, 2016

The CHHMA is also pleased to offer our members an opportunity to attend an informative seminar on Decoding the Mysteries of Managing Millennials.

Based on the latest research and practical workplace observations it is clear that managers are frustrated by the perceived neediness of their younger employees.  And at the same time, younger employees are frustrated with the lack of interaction and guidance they receive from their managers.

Whether you are a millennial yourself, or a more seasoned co-worker, manager, parent or grandparent to a millennial you’ll find this session interesting and insightful. Sales and business development staff will satisfy their curiosity on how to modify their approaches to sell and service younger customers and contacts.

The seminar will take place at the CHSI (Centre for Health & Safety Innovation), 5110 Creekbank Road, Mississauga, ON L4W 0A1 on Thursday, January 28, 2016.  Registration (coffee & muffins will be served) from 8:30 to 9:00 a.m., followed by the presentation from 9:00 to 11:00 a.m. The cost to attend is $59.99+HST per person.   Read More >>



                          Stewardship News


CSSA Updates: Voluntary Steward Deadlines Fast Approaching; MMSW Program Set to Launch; Stewardship Ontario News


New voluntary stewards wishing to report in May 2016 for MMBC, MMSW, MMSM or Stewardship Ontario must submit a completed and signed Voluntary Steward Agreement to CSSA by December 31, 2015.  Existing voluntary stewards wishing to terminate their agreement with any of the programs for 2016, must notify National Steward Services in writing no later than December 31, 2015.  Grandfathered voluntary stewards are requested to complete and submit their Voluntary Steward Agreements as soon as possible.

On October 28, the Saskatchewan Minister of Environment announced its approval of MMSW's revised Stewardship Plan. MMSW will launch the program on January 1, 2016 when MMSW members will begin to share the cost to recycle their waste packaging and paper with municipalities.

Stewardship Ontario's 2016 Pay-In Model (PIM) table is now available online. The PIM table contains the calculations to derive the 2016 Blue Box fees. The amount of the total steward obligation for 2016 remains an issue to be resolved.

Waste Diversion Ontario (WDO) is continuing its work to determine the 2016 steward obligation. In the absence of an approved obligation, Stewardship Ontario has used a proxy of $134M for the steward obligation based on 50% of municipal-reported net costs in the same manner that the 2014 and 2015 steward obligations were calculated.  Read More >>


 
                          Government & Legislative News

Federal Government Moves to Cool Hot Housing Markets with New Down Payment Rules


The new Liberal government is raising the minimum down payment for new insured mortgages to 10% from 5% for the portion of house prices above $500,000.  The new rules will take effect on Feb. 15, 2016.

Down payment rules for mortgages for properties below $500,000 will be unchanged. The move is aimed at cooling overheated housing markets in Toronto and Vancouver but that could risk exaggerating a home price correction in the Prairies. Read More >>



                           Industry News


Sears Canada’s New Management Team has a Plan to Revive the Struggling Store


If a new management team is one ingredient required for a turnaround then Sears Canada – a company with operations in Canada for about 60 years – is on the right path.

Sears, which has a national network of corporate stores, hometown stores, and catalogue and online pick up stores, has recently named a new team: In July, Brandon Stranzl was made executive chairman, while last month Carrie Kirkman was named president and chief merchant.

Notes Kirkman: “We have to ensure we are building a strategy and a vision that is sustainable, [of developing] solid building blocks that will drive a successful Sears business for many years. That [vision] has a hundred pieces under it that have to happen.”    Read More >>



Former Landlords Push Target Canada on Details of RioCan Settlement


Major landlords of insolvent Target Canada are pushing the retailer to disclose details of a $132-million settlement with its largest landlord, RioCan Real Estate Investment Trust, in exchange for other concessions.

The former landlords, including Morguard Investments Ltd., Crombie Real Estate Invest Trust (REIT) and Smart REIT are questioning whether they are getting a comparatively raw deal in Target’s proposed recovery plan.

“We do feel we have not been fairly treated,” Linda Galessiere, a lawyer at McLean & Kerr LLP, which represents the major landlords, said in an interview with the Globe and Mail.  Read More >>


   
Newell Rubbermaid to Buy Jarden Corp. for Approx. $13.2 Billion


It was announced on Monday that Newell Rubbermaid Inc. has agreed to buy diversified consumer products company Jarden Corporation for $13.22-billion (U.S.), adding brands such as Sunbeam kitchen appliances and Coleman outdoor gear, to create a consumer-products giant with $16 billion of sales.  Jarden shareholders will receive $21 in cash and 0.862 Newell shares for each share held, the companies said.  This implies an offer of $60 per share, a 14% premium to Jarden’s closing price on Friday and 24% higher than the closing price on Dec. 4, the last trading day before media reports said merger talks had begun.

The combined company, Newell Brands, will be led by Newell Rubbermaid’s Chief Executive Michael Polk. Jarden CEO Martin Franklin will join the board.  Newell Rubbermaid shareholders will own about 55% of Newell Brands after the transaction is complete, which is expected in the second quarter of 2016.   Read More >>



Hudson’s Bay Co. Swings to Profit in Q3 But Cuts Sales Outlook

Hudson’s Bay Company posted a 34% rise in quarterly sales last Thursday, helped by higher same-store sales in North America and Europe and strong online sales.

However, the company cut its sales forecasts for 2015 and 2016, citing among other reasons the impact of a stronger U.S. dollar and terrorism incidents on its businesses in Belgium and Germany.

The company, which has been opening stores in North America including Saks and Saks Off 5th, said total same-store sales rose 12.9% in the third quarter.  Overall online sales jumped 36.3% in the quarter ended Oct. 31.  Total sales rose to $2.57-billion ($1.89-billion U.S.) in the third quarter, from $1.91-billion a year earlier.  Net profit was $1-million, or 1 Canadian cent, compared with a net loss of $13-million, or 7 Canadian cents per share.  Read More >>



Mobile Pay Wars Heat Up as Wal-Mart Launches Own Mobile System


The mobile payment wars are heating up.  Wal-Mart Stores Inc. said last week that it’s launching its own mobile payment system that will allow shoppers to pay with any major credit or debit card or its own store gift card through its existing smartphone app at the cash register.

It started testing the new payment feature last Thursday at its stores in the Bentonville, Arkansas area, where the retailer is based.  It plans to launch the payment system called Walmart Pay in all 4,500-plus U.S. stores in early next year.  Read More >>




Dollarama Sees Good Results in Q3 But Expects Bumpy Road Ahead Due to Currency


Dollarama Inc. says it has been able to manage the impact of Canada’s weaker dollar, contributing to substantial growth in sales and profit during the discount retailer’s third quarter announced last week.

The company, which originally sold virtually all items for $1 each, says it has started using $1.25 as its new reference price.

During the third quarter, 59.7% of sales came from prices above $1.25, compared with 54.1% a year ago.  Sales were up 13% from the same time last year, in part because of sales growth at established locations plus the addition of 77 stores, including 16 in the third quarter, to put the total number at more than 1,000.  Read More >>



                                 Economic News

  Sales of Existing Homes Rise in November; CREA Updates Resale Housing Forecast


Sales of existing homes in Canada rose in November from October as gains in Toronto and Vancouver once again helped offset softness in other markets, statistics from the Canadian Real Estate Association (CREA) showed on Tuesday.

The number of homes trading hands via MLS® Systems of Canadian real estate Boards and Associations rose by 1.8% in November 2015 compared to October to reach its highest monthly level in six years.  Actual (not seasonally adjusted) sales in November 2015 rose 10.9% on a year-over-year basis compared to November 2014 and were up from year-ago levels in two-thirds of all local markets.

Since CREA’s last forecast published in September, housing markets in British Columbia and Ontario have strengthened further. As a result, CREA has raised sales and average price forecasts for these provinces.  Read More >>
           


                      

Latest U.S. Economic News    
 
U.S. housing starts in November rebounded from a seven-month low and permits surged to a five-month high, signs of strength in the housing market that could give the Federal Reserve more confidence to raise interest rates on Wednesday.

Underlying inflation pressures rose in November, which could give the Federal Reserve more confidence to raise interest rates on Wednesday, even as renewed weakness in gasoline prices kept overall U.S. consumer prices in check.

A gauge of U.S. consumer spending rose solidly in November, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates for the first time in nearly a decade.  Read More >> 


Upcoming CHHMA Events 

Seminar: Decoding the Mysteries of Managing Millennials
Thursday, January 28, 2016
CHSI (Centre for Health & Safety Innovation), Mississauga, Ontario

Seminar: Wealth Management Solutions in a Low Interest Rate World
Wednesday, February 10, 2016
International Centre (Conference Facility), Mississauga, Ontario

Canada Night

Held in Conjunction with the International Home+Housewares Show
Sunday, March 6, 2016
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM

Tuesday, April 12, 2016
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night

Held in Conjunction with the National Hardware Show
Wednesday, May 4, 2016
The Mirage Hotel & Casino, Las Vegas, Nevada

CHHMA Quebec
Golf Classic
Thursday, May 19, 2016
Club de golf Le Fontainebleau, Blainville, Quebec

CHHMA Ontario
Golf Tournament
Tuesday, May 31, 2016
Angus Glen Golf Club, Markham, Ontario
 
To register for all events visit our website at www.chhma.ca or call Pam Winter at (416) 282-0022 Ext. 21

 


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"Eye On Our Industry" is published by the CHHMA as an information resource for our members. Member input regarding content and format is welcomed. Please contact Michael Jorgenson by email: mjorgenson@chhma.ca or call (416) 282-0022, ext. 34.

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Canadian Hardware & Housewares Manufacturers Association | 1335 Morningside Ave., Suite 101, Scarborough, ON M1B 5M4
Telephone: (416) 282-0022   Email: pwinter@chhma.ca