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     Volume 16, Issue 42, November 2, 2016   


Inside This Issue:

• Register Now for the Industry Cocktail (November 24th) at Casino de Montreal
• The CHHMA Can Help You Improve Your Negotiating & Business Proposal Development Skills
• Bernie Owens Provides Insight on TIMBER MART to CHHMA Members
• Amazon’s Quarterly Profit Misses Estimates Despite Rise in Revenue
• Lowe’s Appoints New Chief Customer Officer
• Conference Board Says Consumer Confidence Posts Big Drop in October
• Canada’s Economy Grows 0.2% as Resource Sector Rebound Continues
• Growing Online Retail Sales Suck Up the Equivalent of Four Cities Worth of Malls
• Statistics Canada Focuses on Closing Gaps in Key Housing Data
• CMHC Issues ‘Red Warning’ Amid High House Prices in B.C., Ontario; Calls for Slowing Housing Market in 2017
• Two-Sided Real Estate Market Prevails in Canada Report Says
• Canadian Retail Sales Stumble Along
• Latest U.S. Economic News

                                  Association News                         


Register Now for the Industry Cocktail (November 24th) at Casino de Montreal


This year’s Industry Cocktail is taking place on Thursday, November 24th from 5:30 p.m. to 8:30 p.m., at the Bar Dame de Coeur at the Casino de Montreal.

The location offers a fun and relaxing atmosphere where you can enjoy some wonderful food, drinks and conversation with friends from the industry while enjoying the festive season together.

Click here for further information and to register online.  

Click here for a PDF registration form.



The CHHMA Can Help You Improve Your Negotiating & Business Proposal Development Skills

The CHHMA has organized an information-packed one-day learning program that will provide attendees with proven strategies and tips to help improve your negotiating and business proposal development skills.

Don’t delay – register NOW, attend, and get the expert advice and insights you need to improve business results, profitability, and outcomes!

One-Day Learning Program Divided Into Two Sessions:

Morning Session: Secrets of Power Negotiating® – Key Insights for Improving Negotiating Effectiveness

Afternoon Session: Developing Persuasive Proposals ....  Read More >>





Bernie Owens Provides Insight on TIMBER MART to CHHMA Members


Mr. Bernie Owens, President of TIMBER MART, spoke to a gathering of CHHMA members in Montreal last Wednesday, October 26th.

During his presentation, Mr. Owens clarified the relationships between TIMBER MART, Spancan and Orgill. He also shared with the audience the current organizational chart and who to contact for what. He also talked about the future of shows for the group as well as drop ship programs and how vendors could better utilize the opportunity to sell more to dealers.

Mr. Owens discussed the culture of the new TIMBER MART, the changes that have taken place since he joined the organization and where he sees the organization and the industry going in the next few years.  As a former vendor himself, he gave a few ideas to those present on how they can help support TIMBER MART and grow together.

Those present were very pleased with the content of the presentation and the candid answers to the questions.

Mr. Owens is pictured below (far right) receiving a gift of appreciation from CHHMA Quebec Committee member Mark Gagliardi and we thank him for taking the time to come speak to our members.

A donation from the CHHMA was made on Bernie’s behalf to the Timberkids Charitable Foundation.   

 
 
 



                                 Industry News

  Amazon’s Quarterly Profit Misses Estimates Despite Rise in Revenue  


Amazon.com Inc. reported a lower-than-expected quarterly profit last Thursday as expenses rose and the company provided a disappointing fourth-quarter revenue forecast. Amazon, whose shares were down 6.8% in after-hours trading, said its net income rose to US$252 million, or 52 cents per share, from US$79 million, or 17 cents per share, a year earlier. It was company’s sixth straight profitable quarter. But earnings per share were far short of the average estimate of 78 cents, according to Thomson Reuters.

The company also said that it has launched a tailored version of its Prime service in China to tap consumer demand for overseas goods, putting the company in closer competition with local rivals Alibaba Group and JD.com.  Read More >>



  Lowe’s Appoints New Chief Customer Officer  

Lowe’s Companies, Inc. announced last Thursday that Michael P. McDermott has been promoted to the position of chief customer officer, effective immediately. He will report to Robert A. Niblock, Lowe’s chairman, president and CEO. McDermott currently serves as Lowe’s chief merchandising officer, a position he has held since 2014.

In his new and expanded role, McDermott will be responsible for creating experiences that best serve customers and differentiate Lowe’s in an omni-channel environment, including leading customer insights, customer experience design, marketing and strategy. He will also continue to be responsible for overseeing the company’s full merchandising offering for all Lowe’s U.S. stores and Lowes.com, as well as all global sourcing activities. Read More >>



                                 Economic News

Conference Board Says Consumer Confidence Posts Big Drop in October
 

The Conference Board of Canada says its consumer confidence index in October posted its largest drop since the price of oil first dropped below US$30 a barrel in January. The Ottawa-based think-tank says the national index fell 6.3 points last month to 96.7.

The survey found that, relative to September, more respondents said their household finances were worse than they were six months ago and expectations also waned about future financial conditions. Read More >>



  Canada’s Economy Grows 0.2% as Resource Sector Rebound Continues

Canada’s economy grew by 0.2% in August, due in part to a surge in potash mining and oil extraction.  This marked the
third consecutive month that the natural resources sector expanded, recovering after wildfires in Alberta temporarily shut down some oil sands production in the spring. The GDP growth met analyst expectations. Statistics Canada revised July’s GDP down to 0.4% from 0.5%.

“August GDP provided more evidence that Canada was en route to a hefty third quarter, “Avery Shenfeld, CIBC chief economist, said in a note.  Read More >>




Growing Online Retail Sales Suck Up the Equivalent of Four Cities Worth of Malls


Online sales in Canada have created a large enough dent in retail sales to fill up all the shopping centres in Vancouver, Halifax, Ottawa and Victoria combined, says a report out Tuesday.

Colliers International, in the fall edition of National Retail Report Canada, says what it calls non-retail sales drove $23 billion in activity in 2014 which represented 4.7% of all retail sales. Much of these sales occur through what are called omni-channel, an industry term for the process whereby shoppers purchase from a retailer but not in-store. Read More >>



Statistics Canada Focuses on Closing Gaps in Key Housing Data

Canada is focusing its attention on the factors driving demand in the country’s housing market, its chief statistician says – including the key data gap Ottawa has highlighted in information about foreign ownership.

In an interview with the Globe and Mail, Anil Arora said foreign ownership in real estate “is a big issue” for policy makers, and the agency plans to begin collecting data from land registries, provinces and other sources, with a feasibility study on how to gather that data scheduled to be published next year. Mr. Arora said the agency is looking broadly at how to improve the quality of its housing data, in areas such as drivers of home prices and how trends compare in different cities.   Read More >>




CMHC Issues ‘Red Warning’ Amid High House Prices in B.C., Ontario; Calls for Slowing Housing Market in 2017

Canada’s housing agency has issued a red warning for the country’s real estate market last Wednesday amid concerns about high prices in British Columbia and Ontario.  The Canada Mortgage and Housing Corporation (CMHC) said prices are soaring in smaller communities in British Columbia and Ontario as the real estate boom in Vancouver and Toronto spreads deeper into the suburbs. 

In a separate report on the country’s housing outlook, CMHC expects new construction to slow down next year as the market finally catches up to the reality that there are not enough people to live in the houses being built.  Read More >>



Two-Sided Real Estate Market Prevails in Canada Report Says

Current conventional wisdom holds that Canada has a two-sided real estate market. On one side, the Toronto and Vancouver markets are moving at a breakneck pace, driven by strong economies and foreign investment. But they’re also facing high demand and a woeful lack of supply. On the other side is the rest of Canada, which isn’t faced with the same affordability concerns but still has challenges unique to individual regions.

That is the main message from the Emerging Trends in Real Estate 2017 report put out jointly by PwC and the Urban Land Institute. Read More >>



Canadian Retail Sales Stumble Along


Total Canadian retail sales were up 2.6% in August 2016 versus a year ago, according to the latest numbers from Statistics Canada and on a not seasonally adjusted basis. This rather modest gain was still an improvement compared to the prior month of July.

The underlying 12 month trend appears to have reached a plateau for the current cycle. With the 3 month trend tracking below, things are likely to get softer still going forward.

After 2/3 of 2016, total year-to-date Canadian retail sales were up 3.7%. That's strong performance, especially considering that the gain for all of 2015 was just 1.7%. On the other hand, most of 2016's gain so far happened in the first few months of the year. For the latest 3 months ending August, the increase was much less, at only 2.3% year-over-year. At the current pace, 2016 may end up with only a 2.8% annual gain.

In short, Canadian retail is slowing down going into the final 1/3 of 2016 and the all-important holiday sales season. It looks like it'll be more of a ho-hum rather than a ho-ho Christmas for many retailers.  Read More >>


                                  

Latest U.S. Economic News     
 

U.S. consumer spending rose more than expected in September as households boosted purchases of motor vehicles and inflation increased steadily, which could bolster expectations of an interest rate hike from the Federal Reserve in December.

The U.S. economy grew at its fastest pace in two years in the third quarter as a surge in exports and a rebound in inventory investment offset a slowdown in consumer spending.

New U.S. single-family home sales unexpectedly rose in September, pointing to sustained demand for housing even as data for August was revised sharply lower.  Read More >> 


Upcoming CHHMA Events 

Secrets of Power Negotiating & Developing Persuasive Proposals One-Day Seminar
Featuring Negotiating Expert Michael E. Sloopka

Wednesday, November 23, 2016
Corporate Event Centre at CHSI, Mississauga, Ontario

Industry Cocktail
Thursday, November 24, 2016
Casino de Montreal, Montreal, Quebec

Canada Night
Held in Conjunction with the International Home + Housewares Show
Sunday, March 19, 2017
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Tuesday, April 11, 2017
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Held in Conjunction with the National Hardware Show
Tuesday, May 9, 2017
Location TBA, Las Vegas, Nevada

CHHMA Quebec Golf Classic
Thursday, May 25, 2017
Club de golf Le Fontainebleau, Blainville, Quebec

CHHMA/COPA Ontario Golf Tournament
Tuesday, May 30, 2017
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