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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 14, Issue 48, December 17, 2014   


Inside This Issue:

• President’s Year-End Message
• Industry Cocktail Recap
• New from Health Canada's Consumer Product Safety Program
• Ontario Blue Box Stewards Required to Make Up 2014 Funding Shortage Due to Arbitrator’s Ruling
• Hudson’s Bay Hires Ex-Chief of Toys R Us as New CEO
• Lowe’s Plans to Boost Presence in U.S. Cities, Canada & Australia
• CREA Bumps Up Annual Forecasts for Canadian Home Resales in 2014 and 2015
• Canada’s Home Prices Fall for First Time in a Year
• Slower Price Growth Expected in Canada’s Real Estate Hot Spots
• Bank of Canada Warns House Prices are Overvalued by Up to 30%
• Latest U.S. Economic News                        

This is the last issue of the year, and the CHHMA would like to wish everyone all the best over the holidays and a Happy New Year!
 
 
  

                              Association News                         

President’s Year-End Message     
  
Seasons Greetings CHHMA Members,

Knowing that all of you keep my year-end message as a reference I have written a new message every year. However, looking at last year’s message it appears that I could simply copy it and you would believe it to be current and fresh. Here is what I opened with:

As we reflect back on the past 12 months most of you would probably say it has not been a bad year, but it has had its challenges. For the industry, sales appear to have been pretty much flat to up 2 -3% depending on the commodity. Those that have seen increases greater than that would probably attribute it to the addition of new product categories or market share gains.

Most of you have told me that the year started off slow, but things started to improve as we moved into summer and stayed strong through the third and fourth quarters. Hopefully that is a good sign for 2014!  However, experts tell us that there is really no reason to expect anything different than what we have seen over the last couple of years. Hopefully the experts are wrong, as they often are.

If I were to add anything to that first paragraph it would simply be “in addition to new products or market share gains those selling winter seasonal goods enjoyed a quick start to the year”. As for the experts, unfortunately they had it pegged pretty close overall.

Now onto 2015 and what we see the challenges might be ....  Read More >>
                       


Industry Cocktail Recap  
 
Once again, despite a snow storm, there was an excellent turn out of retail customers and vendors at this year’s Industry Cocktail reception held last Tuesday at the Casino de Montreal's "Dame de coeur" bar.  Attendees enjoyed their time at this fun location and were treated to a selection of great food and exceptional service.

Those vendors who attended took this opportunity to mix, mingle, catch up with old friends and colleagues and exchange greetings with their customers from BMR, Chalifour, Home Hardware, NAPA, RONA etc.....  Read More >>

  

                                                                          
                              Government & Legislative News

  New from Health Canada's Consumer Product Safety Program          
 
As part of the Government of Canada’s commitment to Transparency and Openness, Health Canada wishes to inform companies that two new summary reports will be web published: the Consumer Product Enforcement Summary Reports and the Quarterly Consumer Product Safety Incident Summary Reports.

The Consumer Product Enforcement Summary Reports will provide information to industry and consumers on products that were reviewed by Health Canada and which ones met or did not meet safety standards. It will also inform Canadians as to any corrective actions.

The Quarterly Consumer Product Safety Incident Summary Reports will provide useful statistics on different types of consumer products and cosmetics. The statistics are based on data collected under Section 14 of the CCPSA and include voluntary reports from consumers on health and safety issues about consumer products and cosmetics. The statistics will include the number of reports received by Health Canada, percentage of reports by product category, ratio of industry reports to consumer reports, percentage of reports involving injuries, and top injury types/products.   Read More >>    
                   


                               Stewardship News

Ontario Blue Box Stewards Required to Make Up 2014 Funding Shortage Due to Arbitrator’s Ruling

As advised in last week’s Government Watch Report, retired Justice Robert Armstrong rendered his decision in the arbitration between the Association of Municipalities (AMO) and the City of Toronto, and Stewardship Ontario on November 25.While he validated all of Stewardship Ontario's key legal arguments that steward payments should be limited to reasonable costs, he found that in the absence of a negotiated agreement between AMO/City of Toronto and Stewardship Ontario, the 2014 obligation should be set at $115M versus the $95.7M proposed by Stewardship Ontario.

Stewardship Ontario has therefore had to calculate a 2014 Adjustment Fee Schedule designed to address the municipal obligation shortfall which is due to be paid to municipalities by March 31, 2015. The 2014 Adjustment Fee Schedule was approved last week by Stewardship Ontario's Board and Waste Diversion Ontario's Board.   Read More >>
                            


                                Industry News

Hudson’s Bay Hires Ex-Chief of Toys R Us as New CEO

The Hudson’s Bay Company announced on Wednesday that it will have a new chief executive officer starting next month, although the man who currently holds the position will remain as governor and executive chairman of the company as it explores opportunities to expand to new international markets.  Gerald (Jerry) Storch becomes CEO effective Jan. 6. He has previously been a chairman and CEO of Toys R Us, and a vice-chairman of Target. 

Storch will be responsible for HBC’s overall business, which currently includes Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Home Outfitters an d HBC Digital.

Current CEO Richard Baker will remain and jointly run the Office of the Chairman with Storch, who led Toys R Us through a period of expansion into electronic commerce and China.  Read More >>        
      


Lowe’s Plans to Boost Presence in U.S. Cities, Canada & Australia
 
The U.S. economy is finally seeing a recovery from the Great Recession, and homeowners and apartment dwellers are spending again on their residences. So Lowe's Cos. Inc. execs believe it's time for the home  improvement retailer to kick up its growth.  Lowe's executives and others met with financial analysts and investors last Thursday to talk about the company's strategies for the next year and beyond.

Part of that strategy is to add "high-return stores" in U.S. cities and urban areas where there are no Lowe's stores. Lowe's has already announced plans to open two stores in Manhattan during the second half of 2015.  Another growth area: "high-potential international markets" such as those in Canada and Australia for extending the penetration of the Lowe's brand.   Read More >>  
    


                                Economic News

  CREA Bumps Up Annual Forecasts for Canadian Home Resales in 2014 and 2015

The Canadian Real Estate Association (CREA) has updated its forecast for MLS home sales activity for 2014 and 2015.

CREA said on Monday that with mortgage rates remaining at historic lows since the summer, activity has remained stronger for longer than previously expected and has yet to show clear signs of fading.

As a result, their forecast for annual sales in 2014 and 2015 has been upwardly revised. Almost all of the upward revision to national activity in both years stems from the current strength and momentum of sales across most of British Columbia and much of Ontario, particularly in the Greater Golden Horseshoe region.  Read More >>


                                                                          
 Canada’s Home Prices Fall for First Time in a Year

Canadian home prices fell in November from October, their first monthly decline in a year, the Teranet-National Bank Composite House Price Index showed last Friday. The index, which measures price changes for repeat sales of single-family homes, showed prices fell 0.3% nationally last month. They were still up 5.2% from a year earlier, however.   Read More >>   

  


Slower Price Growth Expected in Canada’s Real Estate Hot Spots

A new report released last week forecasts that housing prices will register modest gains in most Canadian cities next year, disappointing homeowners in Toronto, Calgary and Vancouver that have been riding a property value surge.

According to Re/Max, the average selling price in Canada will rise 2.5% from 2014 to $416,300, with more affordable areas such as Moncton and Windsor expected to see the biggest jump in prices.  However, slower growth is expected in some of the country’s hot spots.   Read More >>  
        


 Bank of Canada Warns House Prices are Overvalued by Up to 30%

The Bank of Canada estimates that house prices in the country are overvalued by as much as 30% in a report released last week that warned household debt remains the biggest risk to Canada’s economy.

On Dec. 10, the Bank of Canada released its Financial System Review, a bi-annual look at the major risks threatening Canada’s financial system.  For the first time, the bank published its estimates for house price over-evaluation in Canada, putting the reading at between 10% and 30%.   Read More >>


     
Latest U.S. Economic News 
 
U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled, but this probably will do little to change views the Federal Reserve will start raising interest rates in mid-2015.

U.S. housing starts and permits fell in November, but the underlying trend remained consistent with an improving housing market.

U.S. consumer spending advanced at a brisk clip in November as lower gasoline prices gave the holiday shopping season a boost, offering the latest sign of underlying momentum in the economy.   Read More >>  

Upcoming CHHMA Events 

                              
Canada Night
Held in Conjunction with the International Home+Housewares Show
Sunday, March 8, 2015
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Wednesday, April 8, 2015
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Held in Conjunction with the National Hardware Show
Tuesday, May 5, 2015
The Mirage Hotel & Casino, Las Vegas, Nevada

CHHMA Ontario Golf Tournament
Tuesday, May 26, 2015
Angus Glen Golf Club, Markham, Ontario

CHHMA Quebec Golf Classic
Thursday, May 28, 2015
Club de golf Le Fontainebleau, Blainville, Quebec               
                              
               

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