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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 16, Issue 5, February 3, 2016

Inside This Issue:

• Last Call to Register for Free Wealth Management Seminar – Feb 10th
• Learn More About Supporting & Servicing Today’s E-Commerce Consumer at Seminar on Feb 25th
• Join the Housewares Industry at Canada Night in Chicago
• CHHMA Spring Conference & AGM – April 12th
• Seminar Provides Key Insights into How Best to Deal with Millennials
• Lowe's to Buy RONA for $3.2B
• Lakehouse Home Store Wins gia Award
• Home Hardware Appoints New Vice-President of Marketing and Sales
• Amazon Shares Tumble Despite Record Year
• EBay Losing its ‘Identity’ as it Expects to Miss Estimates, Analysts Warn
• Canada’s Economy Grows for First Time in Three Months
• CIBC Cuts 2016 Outlook for Canadian Economy for Second Time in a Month
• Prairie Housing Markets at High Risk of Correction, CMHC Warns
• The Worst Year Since the Great Recession for Canadian Retail Sales Growth
• Latest U.S. Economic News


Association News


Last Call to Register for Free Wealth Management Seminar – Feb 10th

There is still time to register for next Wednesday’s (February 10th) Wealth Management seminar being held at the International Centre (Conference Facility) in Mississauga, ON.

The event is being sponsored by TD Wealth and offers a morning of valuable information to help you with financial peace-of-mind in today’s low interest rate world.Presentations will not only feature speakers from TD Wealth but other financial companies as well including Fidelity Investments, Scotiabank and Connor, Clark & Lunn Funds Inc.

And best of all, the event is complimentary for CHHMA members!  Read More >>



Learn More About Supporting & Servicing Today’s E-Commerce Consumer at CHHMA Seminar on Feb 25th

The CHHMA and Canadian Office Products Association (COPA) are pleased to be offering another joint seminar this time on the topic of “Transportation Trends for E-Commerce".

It is the start of a new year, which means the forecast for Transportation Trends for E-Commerce is still yet to be predicted. This seminar is a great opportunity to learn more about creating the most optimal e-commerce shipment and delivery methods for business.

The seminar is taking place on Thursday, February 25, 2016 at the CHSI (Centre for Health & Safety Innovation), 5110 Creekbank Rd., Mississauga, ON L4W 0A1.  Registration (coffee & muffins will be served) from 8:30 to 9:00 a.m., followed by presentations from 9:00 to 11:00 a.m.The cost to attend is $59.99+HST per person.  Read More >>


  
Join the Housewares Industry at Canada Night in Chicago

The 67th Canada Night reception will be held on Sunday, March 6, 2016, 6:00 to 8:00 p.m. at the InterContinental Hotel, Renaissance Ballroom in Chicago.

Canadian vendors, agents and suppliers to the industry in town for the International Home+Housewares Show are invited to purchase tickets to the event while Canadian retailers are invited as complimentary guests of the sponsoring companies.

The intent of the evening is to give everyone an opportunity to mix and mingle with peers and customers in a convivial environment celebrating the common bond of being Canadian while enjoying wine, beer, caesars and appetizers.

New this year will be live jazz and a whiskey tasting bar!


The registration fee is $175 (Cdn) per person (at the door price $225).

For all the details and to register, click here.  



CHHMA Spring Conference & AGM - April 12th

The 47th CHHMA Annual General Meeting & Spring Conference will take place on Tuesday, April 12, 2016.

We will have an outstanding line-up of speakers including, as previously announced, Derek Burleton, Vice President & Deputy Chief Economist, TD Bank Group, who will kick off the conference.  This is the 16th year we have been able to have a senior economist from the TD Bank open the CHHMA Spring Conference and provide our members with an insightful review of the Global, U.S. and Canadian economies over the past year and the prospects moving forward.

In addition, we are pleased to announce that Sofie Andreou (Sofie Andreou & Associates) will be on hand to discuss “How to Merge Digital & Social Media with Traditional Marketing.”

Sofie is a speaker, trainer, author, coach & facilitator.  She is recognized as a digital marketing leader working with various groups including; economic development, Chambers of Commerce, small business enterprise centers, fortune 500 companies and the online business community. Her practice is focused on digital marketing training for small, large, local and international companies.She is the author of the Your Social Strategy series. She delivers her popular and sought after business seminar series to hundreds of professionals monthly.  Read More >>



Seminar Provides Key Insights into How Best to Deal with Millennials

Members from the CHHMA and Canadian Office Products Association (COPA) were treated to a very insightful seminar last Thursday, January 28th, entitled “Decoding the Mysteries of Managing Millennials” at the Centre for Health & Safety Innovation in Mississauga.

The event was jointly presented by COPA and the CHHMA. The speaker, Greg Schinkel of Unique Training & Development , an expert in the area of front line leadership and management, was excellent as he explained the myths and facts about the millennial generation and how as managers one can better communicate, motivate and engage them in the workplace as well as how to best deal with these individuals when selling to them (either as your customer or consumer).

By 2017, Millennials will outnumber and outspend Baby Boomers so it is an important group of consumers to understand.

You can find out more about Greg Schinket at http://www.uniquedevelopment.com.



Industry News

Lowe’s to Buy RONA for $3.2B


Lowe's Cos. is buying RONA inc. in a friendly takeover valued at $3.2 billion Cdn.  The boards of both companies unanimously approved the transaction, they said in a news release early Wednesday.  The deal would give the U.S. chain more of a foothold in Canada's competitive home improvement and renovation retail market, especially in Quebec, where RONA dominates the market.

A previous attempt by Lowe's to purchase RONA in 2012 collapsed after coolness from RONA's management and outright hostility from the Quebec government and pension fund — as well as dozens of independent merchants who operate RONA stores.

Lowe's has agreed its Canadian headquarters will be in Boucherville, and said it will maintain RONA's multiple retail store banners.  Sylvain Prud’homme, who heads Lowe’s Canadian operation, would become president of Lowe’s Canada.  Read More >>



Lakehouse Home Store Wins gia Award

The International Home + Housewares Show and International Housewares Association (IHA), the global sponsors and organizers of the IHA Global Innovation Awards (gia) program, announced last Friday the national gia winners of 2015-2016 – including 25 outstanding home and housewares retailers from 23 countries around the globe.

One of the winning retailers this year was Kelowna’, BC’s own Lakehouse Home Store.

Lakehouse is a family owned and operated “lifestyle store” located in downtown Kelowna, just a few blocks from the sun-drenched shores of Okanagan Lake. The store sources hundreds of suppliers and thousands of items from around the world in categories including gourmet kitchen, furniture, home décor, wine and bar, and giftware.  Read More >>



Home Hardware Appoints New Vice-President of Marketing and Sales

Home Hardware announced last Thursday that Rick McNabb has been named Vice-President, Marketing and Sales, effective March 7, 2016. Most recently Mr. McNabb was Chief Operating Officer for Swiss Chalet and Harveys at Cara Operations Limited.He has also been a successful entrepreneur, a senior agency executive and his family has been in the home improvement business for 38 years, most recently with their Home Building Centre in Parry Sound.

"As we strengthen our company for the future and ensure that we are well positioned to continue serving our Dealer-Owners, we welcome Rick's extensive marketing and operations expertise and proven leadership to our team," said Terry Davis, CEO, Home Hardware Stores Limited, in a press release.

Directly reporting to Mr. McNabb will be Dunc Wilson, Executive Director, Retail Sales and Support and Rob Wallace, Director, Marketing.

"We thank Dunc Wilson for his dedication and leadership over the past year as the Acting Vice-President, Operations." said Davis.  "We look forward to Dunc's ongoing support in his new role as, Executive Director, Retail Sales and Support."
 


Amazon Shares Tumble Despite Record Year

Amazon.com Inc.’s holiday quarter profit missed estimates on stepped up spending for new technology and delivery services, taking the shine off a year marked by record earnings and an aggressive expansion.  The Web retailer’s shares fell as much as 15%. Fourth-quarter net income was $482 million, or $1 a share, Amazon reported last Thursday, short of analysts’ average projection for $742.9 million, or $1.55. While revenue rose 22% to $35.7 billion in the fourth quarter, the stronger dollar subtracted $1.2 billion, pushing it below analysts’ prediction for $35.9 billion.  Read More >>  



EBay Losing its ‘Identity’ as it Expects to Miss Estimates, Analysts Warn

EBay Inc. projected earnings may miss analysts’ estimates as growth on its marketplace stalled, revealing that shoppers went elsewhere during a holiday season that saw online spending reach new heights. Shares fell as much as 11% in extended trading.  Profit, excluding certain items, will be 43 cents to 45 cents (U.S.) a share in the current quarter, eBay said last week in a statement, compared with analysts’ estimates of 48 cents. Sales in the fourth quarter were $2.32 billion, unchanged from a year earlier, excluding PayPal Holdings Inc., which became a stand-alone company in July, eBay said.  Read More >>



Economic News

Canada’s Economy Grows for First Time in Three Months


Canada’s economy awoke from its fall slumber to post modest growth in November, thanks to rebounds in manufacturing, energy production, and wholesale and retail trade. Statistics Canada reported last Friday that Canadian real GDP rose 0.3% month over month, the economy’s first growth in three months. GDP was flat in October and sank 0.5% in September.

The November result matched the consensus estimate among economists. Still, most believe that the economy achieved little or no growth in the sluggish fourth quarter, weighed down by a slowdown in the pace of the U.S. recovery and persistent weakness in commodity prices.  Read More >>   



CIBC Cuts 2016 Outlook for Canadian Economy for Second Time in a Month

One of Canada’s big banks is cutting its economic forecast for the country for a second time in a matter of weeks.  CIBC World Markets is now estimating the country’s GDP will grow by only 1.3% this year, after adjusting for inflation. That’s down from its previous forecast last month of 1.7% growth in GDP.

CIBC chief economist Avery Shenfeld says a major concern is global investor sentiment, which has resulted in lower stock prices, changes on the bond market and a buildup of cash in Canadian households.  Read More >>  


 
Prairie Housing Markets at High Risk of Correction, CMHC Warns

Housing markets across the Prairies are at high risk of a correction as job losses mount in the energy sector, Canada’s federal housing agency warned.

“Low oil prices are impacting Alberta and Saskatchewan, weakening demographic and economic fundamentals such as migration, employment, and income, which are in turn affecting housing markets,” Canada Mortgage and Housing Corporation (CMHC) said in its latest quarterly assessment report of the country’s housing market released last week.

Overall, Canada’s housing market faces little risk of a steep correction, CMHC said, although it raised concerns with nine of the country’s 15 major housing markets.  Read More >>
 


The Worst Year Since the Great Recession for Canadian Retail Sales Growth

Despite an uptick in November, data from Statistics Canada last week indicates that total Canadian retail sales will be up only about 2.3% for 2015. This is half of the 4.6% gain recorded in 2014, and the lowest annual growth since 2009, the year of the Great Recession.

The underlying 12 month trend in total Canadian retail sales has been sliding all year. The 3 month trend however has steadied, so things may be at the bottom of the current cycle. At least this might be cause for modest optimism going forward into 2016.  Read More >> 
  



Latest U.S. Economic News
       

U.S. consumer spending was unchanged in December, but a jump in savings to a three-year high suggested consumption could rebound in the months ahead.

U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports.

The number of people signing contracts to purchase homes managed to inch up last month, thanks to unseasonably warm weather in the Northeast.

New U.S. single-family home sales surged in December to their highest level in 10 months, the latest indication that the housing sector remains on a firmer footing despite a massive stock market sell-off and slowing economic growth.  Read More >>  

  

 Upcoming CHHMA Events 

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

Seminar: Transportation Trends for E-Commerce
Thursday, February 25, 2016
CHSI (Centre for Health & Safety Innovation), 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
       
       

CHHMA Industry Calendar

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 at (416) 282-0022, ext. 34. CHHMA is located at 1335 Morningside Ave., Suite 101, Scarborough, ON, M1B 5M4 www.chhma.ca

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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