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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 15, Issue 18, May 20, 2015

Inside This Issue:

• Last Call for CHHMA Ontario & Quebec Golf Tournaments
• No Summer Reports Due for ÉEQ’s 2015 Schedule of Contributions
• Sears Canada Narrows First Quarter Loss, Revenue Falls 9.7%
• Target First Quarter Profit Tops Estimates on Healthy Sales Growth
• Lowe's Profit & Sales Miss Projections in Latest Quarter
• Home Depot Beats Earnings, Revenue Expectations on Recovering U.S. Housing Market
• Canada a Bright Spot for Wal-Mart as Solid First-Quarter Sales Outpace U.S.
• Wal-Mart Misses Estimates, Impacted by Currency Fluctuations and Consumer Saving
• Canadian Tire Sees Strong First Quarter Results but Expects Growth to Slow
• How Canada’s Taste for Apps Differs from the U.S.
• Consumer Confidence Dips in Canada but Continues to Climb in U.S.
• Canadian Home Resales Increase Again in April
• New Home Prices in Canada Unchanged in March; Calgary Prices Drop
• U.S. Housing Starts Surge in April to Highest Since November, 2007

Association News

Last Call for CHHMA Ontario & Quebec Golf Tournaments    

The CHHMA Annual Ontario and Quebec Golf Tournaments are set for next Tuesday and Thursday, respectively, and there are still a few openings if you would like to attend.

The 46th Annual Ontario Golf Tournament in support of the CHHMA Scholarship Program is being held at the Angus Glen Golf Club in Markham, Ontario, (7:45 a.m. shotgun start) on May 26th.  It is open to CHHMA members and their invited customers and includes breakfast, golf, an executive lunch, awards and prizes.

Click here for all the details and to register online.

The 2015 CHHMA Classique de golf is being held on May 28 at the Club de golf LeFontainebleau in Blainville, Quebec. The tournament is open to CHHMA members and non-members. Registration and brunch will start at 9:00 a.m., with an 11:00 a.m. shotgun start.After golf, there will be dinner with wine followed by prize presentations.

Click here for full details and to register:  French or  English

These events are always a lot of fun and a great way to bond with fellow employees, industry colleagues and customers with some wonderful prizes up for grab and items to bid on. We hope you can make it out!



Stewardship News

No Summer Reports Due for ÉEQ’s 2015 Schedule of Contributions

This year’s Éco Entreprises Québec (ÉEQ) advised last Thursday that stewards will not be asked to submit their Company Reports this summer for the 2015 Schedule of Contributions.

The Quebec government is currently analyzing the findings of a sorting centre characterization study that will determine the percentage to be deducted from the compensation due to municipalities having to take into account non-designated materials.  A transition measure consisting of a 7.5% deduction from eligible net costs was used for Schedule calculations for the 2013 and 2014 Schedules of Contributions. That percentage will be reviewed according to the data collected in the latest study.

Nevertheless, ÉEQ recommends that stewards still gather their 2014 data now to be ready to produce their Company Report when the Schedule eventually takes effect. Read More >>



Industry News

Sears Canada Narrows First Quarter Loss, Revenue Falls 9.7%


Sears Canada Inc. reported Wednesday a $59.1-million net loss for the first quarter ended May 2 amid falling revenue, which was down 9.7% from last year.  The loss amounted to 58 cents per share – which was less than during the same time last year when the struggling department store operator reported a net loss of $75.2-million or 74 cents per share.  Overall revenue for the quarter fell to $697.2-million, down from $771.7-million, mostly because of store closures.  Same-store sales were down 4.3%.  Read More >>



Target First Quarter Profit Tops Estimates on Healthy Sales Growth

Target Corp. reported on Wednesday a larger-than-expected increase in first-quarter profit as revenues got a boost from online sales and a program to narrow its product focus. Adjusted earnings, excluding restructuring costs and other items, came to $1.10 per share in the three months ended May 2, against a profit of 92 cents in the same period a year earlier.  Analysts, on average, expected per-share profit of $1.03, according to Thomson Reuters.  Target said same-store sales rose 2.3%, matching the market consensus, according to Consensus Metrix. One-third of the growth came from online-generated sales, which jumped 38%.  Read More >>
 


Lowe’s Profit & Sales Miss Projections in Latest Quarter

Lowe's Companies, reported lower-than-expected quarterly profit and sales as growth in its kitchen, flooring and lumber and building material businesses was not as strong as the company expected.  Shares of Lowe's, which also reported same-store sales growth below analysts' estimates, fell about 7% in premarket trading on Wednesday.  Lowe's total same-store sales rose 5.2% in the first quarter. Analysts on average had expected a 6.1%, according to Consensus Metrix.  Read More >>



Home Depot Beats Earnings, Revenue Expectations on Recovering U.S. Housing Market

A busy spring pushed Home Depot’s first-quarter profit and revenue above Wall Street expectations and the world’s biggest home improvement retailer raised its projections for both in 2015.  Same-store sales in the U.S. were also better than most had expected, rising 7.1%. Overall, company same-store sales were up 6.1% for the quarter.   Read More >>



Canada a Bright Spot for Wal-Mart as Solid First-Quarter Sales Outpace U.S.

Wal-Mart Canada Corp. got a solid first-quarter sales lift even while the world’s largest retailer faced challenges in its U.S. home market.  Wal-Mart enjoyed a 1.8% sales gain at existing Canadian stores, outpacing the 1.1% increase at its core U.S. outlets. Its first-quarter overall sales here rose 3.7% (3.5% in the U.S.) as the discounter raced to add more groceries to its stores here. Customer spending picked up 1.7% in the quarter in Canada but just 0.1% south of the border.  Read More >>
 


Wal-Mart Misses Estimates, Impacted by Currency Fluctuations and Consumer Saving


Wal-Mart Stores Inc. posted first-quarter earnings that missed analysts’ estimates after currency fluctuations ate into profit.  Net profit attributable to Wal-Mart fell to $3.34-billion, or $1.03 per share, in the first quarter ended April 30, from $3.59-billion, or $1.11 per share, a year earlier.  The company reported a 1.1% rise in same-store sales in the U.S. in the first quarter, missing the consensus of an increase of 1.5%, according to analysts polled by research firm Consensus Metrix.  Total revenue fell slightly to $114.83-billion from $114.96-billion.  Read More >>



Canadian Tire Sees Strong First Quarter Results but Expects Growth to Slow

Canadian Tire Corp. reported a better-than-expected quarterly profit last Thursday, helped by strong sales of home products, sports gear and clothes.  Same-store sales rose 4.7% in the first quarter ended April 4 at Canadian Tire stores. At FGL Sports, same-store sales rose 8.6%, driven by strong footwear and athletic clothing sales.Same-store sales at Mark’s rose 5.5%, helped by demand for men’s casual wear and denim.

Canadian Tire Retail saw retail sales increase 4.5% during the quarter over the same period last year. FGL Sports' retail sales matched its same-store sales growth of 8.6% and Mark's retail sales grew 4.4%.  Read More >>



Marketplace Stats & Trends

How Canada’s Taste for Apps Differs from the U.S.

 
A new study from Flurry, an app analysis company owned by Yahoo!, has found that Canadian’s mobile app usage is growing when compared to time spent browsing online on their devices.

“We have now entered the age of the app economy and now for marketers to engage with consumers in mobile, they have to think about app advertisements and app behaviour,” said Claude Galipeau, country manager for Yahoo Canada.

Looking at 92,000 Canadian devices in March, the study found that 86% of time spent on mobile devices was spent in apps versus 14% in browser. Those figures are very similar to U.S. findings.  After that though, there are some interesting differences between users in the two countries.  Read More >>



Economic News

Consumer Confidence Dips in Canada but Continues to Climb in U.S.


Consumer confidence in Canada remains “volatile and uncertain” while it continues to climb in the U.S. amid new job growth and lower gas prices, says a new report.  Canadians’ biggest concerns over the next six months are personal debt, the economy, job security and health, finds Nielsen’s global, first-quarter consumer confidence survey.  It notes that a downbeat economic outlook across the country led to a 10-percentage point decline in sentiment about job prospects to 44% -- the lowest level since 2009 -- and a six percentage point decline for immediate spending intentions to 37%, the lowest level since 2012.  Read More >>



Canadian Home Resales Increase Again in April

Home resales in April were up from March as Canadians took advantage of low interest rates.  The Canadian Real Estate Association (CREA) reported last Friday that home sales through its MLS system were up 2.3% in April compared with the previous month.  The increase was the third consecutive month-over-month climb, but it was down from the 4.1% increase in March.  Read More >>  



New Home Prices in Canada Unchanged in March; Calgary Prices Drop

New home prices in Canada were flat in March as prices in the oil-sensitive city of Calgary saw their first decline in over three years, data from Statistics Canada showed last Thursday.  The national figure fell shy of economists' expectations for a gain of 0.1%. Compared with a year ago, prices rose 1.2%, the slowest pace of growth since February 2010.

The agency’s New Housing Price Index (NHPI) was unchanged in March, following a 0.2% increase in February. Monthly price increases in eight metropolitan areas were offset by decreases in seven metropolitan areas, resulting in no change to the Canada level index.  Read More >>



U.S. Housing Starts Surge in April to Highest Since November, 2007

U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared, offering a glimmer of hope for an economy that is struggling to regain strong momentum after a dismal first quarter.  Groundbreaking surged 20.2% to a seasonally adjusted annual pace of 1.14 million units, the highest since November 2007, the Commerce Department said on Tuesday. The per cent increase was the biggest since February 1991.  Read More >>

  

 Upcoming CHHMA Events 

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

Industry Memorial Golf Classic
Wednesday, September 30, 2015
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

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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