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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 13, Issue 41, November 06, 2013   


Inside This Issue:   
                                       
                                                                                                                       
• Come Check Out the Renovated Casino de Montreal at this Year’s Industry Cocktail
• Could Sears Canada’s Real Estate Be a Cash Cow for Shareholders?
• La Coop fédérée Acquires Minority Interest in Groupe BMR
• Big Lots Closing Existing Wholesale Operations 
• Target Aims to Reshape Canadian Shopping Habits as Sales Fall Short 
• Five Game-Changing Canadian Consumer Trends You Need to Watch Out For 
• Building Permits Rise 1.7% in September 
• CMHC Cuts 2014 Housing Starts Forecast, Signalling Slowing Market
• Canada’s GDP Edges Ahead in August Led by Surging Oil and Gas Sector 
• Expect the Canadian Dollar to Continue Eroding
• U.S. Home Prices Rise at Slower Pace as Higher Mortgage Rates Hit on Sales
               
               

                              Association News
                                               
          
Come Check Out the Renovated Casino de Montreal at this Year's Industry Cocktail    
 
This year’s Industry Cocktail will be taking place on Thursday, December 5th, from 5:30 p.m. to 8:30 p.m. at Bar Reine de Coeur located at the recently renovated Casino de Montreal.  This traditional industry year-end event brings together a wide spectrum of people from the industry including manufacturers, distributors and retailers. The location offers a fun and relaxing atmosphere where you can enjoy some wonderful food, drinks and conversation with your industry colleagues while enjoying the festive season together.  For further details and registration go to:  http://events.chhma.ca/indct2013/indct13main_en.html  
               

                                  Industry News               
                
                
                  
Could Sears Canada's Real Estate Be a Cash Cow for Shareholders?
 
                 
The swift exit of Sears Canada’s chief executive in September and the ongoing sale of some of its most valuable mall locations back to landlords has led many analysts to speculate the value of the retailer’s real estate outstrips that of its retail operations.  That could potentially yield rich rewards for shareholders, according to CIBC analyst Perry Caicco, if its biggest shareholder continues to direct the selloff of its assets.   Read More >>                 
               


 

La Coop fédérée Acquires Minority Interest in Groupe BMR

Following discussions regarding a future commercial partnership, Groupe BMR and La Coop fédérée announced last Friday that they have entered into a commercial agreement under which La Coop fédérée, through its Unimat banner, is acquiring a minority interest in Groupe BMR.   "Our company is pleased with this new partnership with La Coop fédérée, a leader in Québec's economy for 92 years", said Yves Gagnon, President and CEO of Groupe BMR.  Through this association, the two companies will offer some 360 retail locations to consumers and contractors in Québec, Ontario and the Maritime Provinces.   Read More >>                 

               


 

 Big Lots Closing Existing Wholesale Operations 
 
Big Lots is narrowing its focus to its retail operations and will close its wholesale business by the end of 2013, the company announced last Friday.  During the 90-day wind down period, the wholesale business will liquidate its inventory and employees will be shifted into Big Lots’ retail operations “where and when possible,” the company said.   Read More >>


 

Target Aims to Reshape Canadian Shopping Habits as Sales Fall Short
                 
Executives at Target Corp. say they will spend next year trying to reshape the habits of Canadian shoppers who have soured to the company’s roll-out north of the border.  The head of the Minneapolis, Minn.-based retailer told analysts last Wednesday that Target stores in Canada will play a key role in its growth over the next five years, conceding that not everything has gone according to plan.  “While initial sales in Canada have fallen well short of expectations, we remain very confident in the long-term potential of these assets,” chief executive Gregg Steinhafel said at an investor event in Toronto.  Read More >>
               



                          Marketplace Stats & Trends
 
Five Game-Changing Canadian Consumer Trends You Need To Watch Out For
 
Canadians are known for proudly sewing the country’s flag to backpacks and suitcases when traveling abroad. So it may not be surprising that Canadian consumers are increasingly letting their love for country guide their purchasing decisions as well.  According to a recent report by the Business Development Bank of Canada, the “Made in Canada” label has become increasingly influential in how people shop — both because consumers are looking to support the economy and the perception that Canadian-made products are of a higher quality.   Read More >> 
                                                

 

                                                                                                                         
                                  Economic News

                                                                                
 
Building Permits Rise 1.7% in September 

Increased plans for housing construction helped edge the value of Canadian building permits up by 1.7% in September after permits were whipsawed by a gain and loss of more than 20% in July and August.   Statistics Canada reported on Wednesday that it was the seventh monthly advance for building permits since the start of 2013, yet the total value in September was only 0.2% higher than in September 2012.  Read More >>
               


            

 CMHC Cuts 2014 Housing Starts Forecast, Signalling Slowing Market 
                 
Canada’s federal housing agency has bumped up its forecast for housing starts in 2013 but trimmed its forecast for 2014, setting an essentially flat outlook for a once-roaring market.  The Canada Mortgage and Housing Corporation (CMHC) said last Thursday in its Fourth Quarter 2013 Housing Market Outlook that housing starts will be in a range of 179,300 to 190,600 units in 2013, with a point forecast, or most likely outcome, of 185,000. That is up from its August estimate of 182,800, but down 13.9% from 214,827 units in 2012.   Read More >>

               


 

 Canada's GDP Edges Ahead in August Led by Surging Oil and Gas Sector 

Canada’ economy edged ahead in August, led by the energy and mining sectors, albeit at a overall slower pace than the previous month as growth was limited by weak manufacturing and construction activity.  Real GDP rose 0.3% during the month, Statistics Canada said last Thursday, down from a surprisingly strong 0.6% gain in July.  Economists had forecast a gain of between 0.1% and 0.2% in August. That followed a 0.5% drop in June and 0.2% advance in May.  Since August of last year, GDP has managed a year-over-year advance of 2%.  Read More >>



Expect the Canadian Dollar to Continue Eroding
 
Exporters can thank the U.S. and Canadian central banks for what’s expected to be a further erosion of the loonie as the year winds down.  The currency took it on the chin two weeks ago when the Bank of Canada shifted its policy – it’s no longer signalling an interest rate hike - and softened last week as the U.S. dollar strengthened on the Federal Reserve announcement.   Read More >>

                                                        


             

 

U.S. Home Prices Rise at Slower Pace as Higher Mortgage Rates Hit on Sales
                                                            
A measure of U.S. home prices rose only slightly in September from August, a sign that prices are levelling off after big gains earlier this year.  Real estate provider CoreLogic said Tuesday that home prices increased 0.2% in September from the previous month. That’s sharply lower than the 0.9% month-over-month gain in August and the 1.8% increase in July.  Prices still rose 12% in September compared with a year ago.  Read More >> 
                                                               

Upcoming CHHMA Events 

Industry Cocktail
Thursday, December 5, 2013
Casino de Montreal, Montreal, Quebec

Canada Night
Sunday, March 16, 2014
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Wednesday, April 23, 2014
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Tuesday, May 6, 2014
Location TBA, Las Vegas, Nevada

CHHMA Quebec Golf Classic
Thursday, May 22, 2014
Club de golf Le Fontainebleau, Blainville, Quebec

CHHMA Ontario Golf Tournament
Tuesday, May 27, 2014
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.

 

 

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