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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY

Volume 13, Issue 19, May 15, 2013

Inside This Issue:
  
• Last Call for CHHMA Quebec Golf Classic
• Last Day to Register for the 44th Annual CHHMA Ontario Golf Tournament
• CHHMA's Team Building Event - Night at the Races – June 12
• Mood Very Upbeat at Maple Leaf Night in Las Vegas
• RONA First Quarter Loss Larger than Expected; Company to Maintain Big-Box Stores
• Canadian Tire Reports Positive First Quarter Results; Plan for $3.5 Billion REIT
• Target Opens First Stores in Western Canada
• Target Tests Whether Facebook Deals Can Help Bring Shoppers Into Their Stores
• Year-Over-Year Home Resales Down in April; Price Gains Lowest in Two Years
• Canadian Job Gains Modest in April as Unemployment Rate Holds at 7.2% 
• Canadian New Housing Prices Rise 0.1% in March
• Canadian Dollar to Fall to 90 Cents By Early 2014: TD Economics
• U.S. Retail Sales Unexpectedly Up in April
 


Association News


 
Last Call for CHHMA Quebec Golf Classic
 
The 38th Quebec Golf Classic is set for next Thursday, May 23 at Le Club de golf Le Fontainebleau in Blainville, Quebec - 11:00 a.m. shotgun start. The event is always greatly supported by the industry and we are looking forward to another great day out on the links followed by dinner and prize presentations. We want to thank all the companies that are sponsoring a hole – their support helps make this event a success. For further details and registration, click here:    French    English



Last Day to Register for the 44th Annual CHHMA Ontario Golf Tournament    
 
This year’s CHHMA Ontario Golf Tournament is set for May 28th once again at the beautiful Angus Glen Golf Club in Markham, Ontario. Proceeds from the event will help support the Ontario Special Olympics. Today is the last day to register so sign up now for a fun time with your customers, work colleagues and industry peers and come support a worthwhile cause!   Click here for more details and to register.  If you haven’t already, consider sponsoring a hole and help support some very special athletes!


 
CHHMA's Team Building Event - Night at the Races - June 12       
 
For the past 16 years, CHHMA members have used the Night at the Races as an opportunity to team build with their employees, thank their employees for a job well done and engage with customers and their spouses at a fun night of dining and thoroughbred horse racing at the Woodbine Racetrack in Toronto. The CHHMA in-house betting competition also offers an opportunity for attendees to showcase their handicapping (guessing) skills and win some prizes too.   Get your team together, invite your customers and enjoy a great evening in Favourites Dining Room, which offers a spectacular view of the track, at CHHMA's Night at the Races.  Click here for further details and to register.


 

Mood Very Upbeat at Maple Leaf Night in Las Vegas
 
Maple Leaf Night 2013 was held on the evening of May 7th at the Mirage Hotel & Casino in Las Vegas.  Each year, this event held in conjunction with the National Hardware Show, offers an opportunity for CHHMA members to enjoy some friendly conversation over cocktails and hors d’oeuvres with colleagues, fellow members and retailers in town for the trade show. There was a great turn-out of customers and the mood this year surrounding the show was very upbeat.  We would like to thank everyone for attending and particularly the sponsors for helping to make this event a success. We look forward to seeing you there next year! 

Click here to see photos from the evening.



Industry News

RONA First Quarter Loss Larger than Expected; Company to Maintain Big-Box Stores    
 
Rona inc. missed expectations Tuesday as its adjusted loss surged 68% to $22.7 million in the first quarter – a bigger deterioration than analysts had predicted. The company reported a net loss of 19 cents per share for its first quarter ended March 31, traditionally it’s weakest. This was five cents per share more than a consensus analyst estimate and compared to a loss of 11 cents per share or $13.5 million in the same period last year.  RONA said it will announce a recovery plan next quarter after deciding to maintain its big box store network outside Quebec.  Read More >>
 

Canadian Tire Reports Positive First Quarter Results; Plan for $3.5 Billion REIT
 
Canadian Tire Corporation, Limited announced last Thursday that it posted a 2.9% increase in first quarter consolidated profit to $73 million, or $0.90 per share, from $71 million or $0.87 a year earlier.  Consolidated revenue climbed 1.7% to $2.48 billion in the quarter ended March 20, 2013, from $2.44 billion and consolidated retail sales edged up just 0.8%, or $20.4 million, to $2.4 billion.  Read More >>


Target Opens First Stores in Western Canada
 
Target Canada announced last week the soft opening dates for its first stores in Western Canada, including 22 locations which opened on May 7 and two locations which opened on May 14. The soft openings include stores in British Columbia, Alberta and Manitoba and follow the opening of 24 stores across Ontario. As previously announced, Target plans to open 124 stores across Canada throughout 2013.  Read More >>

 
Target Tests Whether Facebook Deals Can Help Bring Shoppers Into Their Stores   
 
Target Corp. is rolling out Cartwheel, a service that combines social networking and discounts, the latest attempt by a U.S. retailer to lure shoppers into its physical stores rather that seeing them buy from online rivals. Target said its new program relies on shoppers using their Facebook accounts. However, shoppers can only redeem the offers they choose in Target’s U.S. stores, not online.  Read More >>

 
Economic News


Year-Over-Year Home Resales Down in April; Price Gains Lowest in Two Years 

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged up slightly on a month-over-month basis in April. Activity has generally held to within short reach of current levels for the past nine months.  However, actual (not seasonally adjusted) sales were 3.1 % below levels reported in April 2012, with transactions down on a year-over-year basis in about 60% of local markets.  Read More >>


Canadian Job Gains Modest in April as Unemployment Rate Holds at 7.2%
 
Statistics Canada reported last Friday that the Canadian economy added 12,500 jobs in April, following a large drop in employment the previous month, as the unemployment rate remained at 7.2%. Compared with 12 months earlier, employment in Canada is up 0.9% or 163,000 positions, all in full time. The total number of hours worked rose by 1.5% over the same period.  Read More >>



Canadian New Housing Prices Rise 0.1% in March               

Last Thursday, Statistics Canada said its New Housing Price Index (NHPI) rose 0.1% in March, following a 0.2% increase in February. The month-over-month gains in the index have ranged from 0.1% to 0.3% for the past 12 months. Calgary was the top contributor to the advance in March, up 0.3% from February. Builders indicated that increases in material and labour costs as well as market conditions were the main reasons for higher prices.  Read More >>


Canadian Dollar to Fall to 90 Cents By Early 2014: TD Economics

The TD Bank is now forecasting a big drop in the Canadian dollar. TD economists Craig Alexander, Francis Fong and Leslie Preston released reports last Thursday saying that they have made a substantial revision to their Canadian dollar forecast. They now anticipate the Loonie to trend materially lower over the next year, dropping to as low as 90 US cents in early 2014.  Read More >>

 
U.S. Retail Sales Unexpectedly Up in April
 
U.S. retail sales unexpectedly rose in April as households bought automobiles, building materials and a range of other goods, pointing to underlying strength in the economy.  The Commerce Department said on Monday that U.S. retail sales edged up 0.1% after a revised 0.5% decline in March.  Read More >>
 

 Upcoming CHHMA Events 


CHHMA Quebec Golf Classic
Thursday, May 23, 2013
Club de Golf Le Fontainebleau, Blainville, Quebec

CHHMA Ontario Golf Tournament
Tuesday, May 28, 2013
Angus Glen Golf Club, Markham, Ontario

CHHMA Night at the Races
Wednesday, June 12, 2013
Woodbine Racetrack, Toronto, Ontario

Industry Memorial Golf Classic
Tuesday, October 1, 2013
Blue Springs Golf Club, Acton, 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

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