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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 15, Issue 33, September 10, 2015

Inside This Issue:

• Come Out and Support the 14th Annual Industry Memorial Golf Classic on September 30th
• 2016 Maple Leaf Night in Las Vegas to Take Place on Wednesday, May 4th
• HBC Swings to Profit as Real Estate Deals Bolster ‘Transformative’ Quarter
• Dollarama Raises Dividend as Profit Beats Estimates
• Sears Canada Faces Big Challenge in Turning Around Flagging Business
• Canadian Housing Starts Jump as Toronto Condo Building Booms
• Total Building Permits in Canada Dip in July but Multi-family Plans Surge
• Bank of Canada Holds Key Rate as Signs of Recovery Emerge
• Canada’s Economic Scoreboard: ‘Best. Recession. Ever’
• Canada Adds 12,000 Jobs in August, But Unemployment Rates Rises to 7%
• U.S. Job Growth Slows, Unemployment Rate Falls to 5.1%

Association News

Come Out and Support the 14th Annual Industry Memorial Golf Classic on September 30th

The 14th Annual Industry Memorial Golf Classic is taking place on Wednesday, September 30th at the Blue Springs Golf Club in Acton, Ontario.
The event is held on behalf of the hardware and housewares industry and it honours stalwarts from the industry who have passed away. CHHMA members and non-members are welcome to attend.

This year’s honourees will be: David Fry (Shop-Vac Canada), Ted Kennedy (Rubbermaid Canada, Past CHHMA Chairman 1975-76) & Geoff Somers (Wentworth Corporation, Somerset House)

Past honourees include: Ray Ceolin, Tom Ross, Bruce Webster, Chris Hrushowy, Mike Pullen, Jim Ypma, Bill Caldwell, Brayl Copp, Ed Hardison, Stuart North, Joseph Kuchar, Shelly Lush, Jack Pountney, Christof Vanooteghem, Ian Hay, Trygve Husebye, Bernie Carpenter, Don McDonald, Les Groves, Bob Hilton, Doug Straus, Mel Boshart, George Giles and Ed Barnes.

The day allows family, friends and colleagues to honour these gentlemen while enjoying a fun day out on the golf course followed by a dinner and silent auction.

The event will start off with registration and lunch at 10:30 a.m. with a shotgun start at noon.Dinner will commence at around 6:00 p.m.  

Money raised from hole sponsorships and a silent auction will go towards the CHHMA Scholarship Program which provides support for children of CHHMA member company employees to attend university or college (click here to see this year’s scholarship recipients).  So please consider sponsoring and/or donating an item for the silent auction for this worthwhile cause.

Click here to register online or click here for a: PDF registration form as well as a PDF silent auction pledge form



2016 Maple Leaf Night in Las Vegas to Take Place on Wednesday, May 4th

Next year’s Maple Leaf Night will take place on the evening of Wednesday, May 4th at the Mirage Hotel & Casino in Las Vegas. This popular social event is open to CHHMA members and Canadian customers in town for the National Hardware Show.

The 2016 National Hardware Show has decided to shift by one day, opening Wednesday, May 4, and closing Friday, May 6. Previously, the show was going to open on Tuesday, May 3, and close Thursday, May 5. The move was prompted by a change in the floor layout to the Central and North Halls of the Las Vegas Convention Centre.

Next year’s show will closely resemble the layout from 2014. The 2015 show took place in the central and south halls. “[The move] will offer us additional space on the show floor to more closely align each product category and provide attendees and exhibitors with a more manageable shopping experience,” said Rich Russo, industry vice-president for the show.

Meanwhile, Maple Leaf Night is always a great way to wind down after the first day of the show and offers CHHMA members a unique opportunity to mix and mingle with fellow members and Canadian retailers while enjoying cocktails and hors d-oeuvres.

So if you are planning to attend the show next May, plan to attend Maple Leaf Night as well and look for further event details and registration info in the new year.
 



Industry News

HBC Swings to Profit as Real Estate Deals Bolster ‘Transformative’ Quarter

Real estate deals helped Hudson’s Bay Co. return to profit in the second quarter, which its chairman says marked a “transformative” period for the retailer.

HBC completed joint ventures with two major real estate companies during the quarter and reached an agreement to acquire German department store chain Galeria Kaufhof – the company’s first move outside North America.

HBC’s net income for second quarter ended Aug. 1 was $67-million, which compared with a loss of $36-million in the second quarter of 2014 and $33-million in the first quarter of 2015.  Read More >>



Dollarama Raises Dividend as Profit Beats Estimates

Dollarama Inc. reported better-than-expected quarterly profit and sales as customers bought more higher-priced items, boosting its average revenue per transaction.

The company, which sells items priced up to $3, said items priced higher than $1 accounted for over three-quarters of its sales in the second quarter, up from two-thirds a year earlier.

Dollarama said on Thursday that its same-store sales rose 7.9%. Average value per transaction increased 6.2% and the number of transactions rose 1.5%.  Read More >>



Sears Canada Faces Big Challenge in Turning Around Flagging Business

The new executive chairman of Sears Canada Inc. says he is serious about finally fixing the challenged department store, but observers say he needs to hurry.

For years, Sears Canada has struggled with falling revenue and erratic profits or losses.  Now, Brandon Stranzl says he has developed a plan to turn around the retailer, partly by teaming with suppliers to focus on mid-priced brands.  Mr. Stranzl, a close associate of Edward Lampert, whose U.S. hedge fund is Sears Canada’s key shareholder, said last Wednesday that his team is already starting to reverse the sales slide with new merchandise rather than stocking aging excess inventory.  His blueprint for change also entails beefing up its discount outlets, shaving expenses, selling more non-core assets – and possibly shrinking some stores.

But many analysts aren’t sold on the idea just yet.  Read More >>     



Economic News

Canadian Housing Starts Jump as Toronto Condo Building Booms

Canadian housing starts unexpectedly jumped in August from July as condo building surged to meet demand for lower-cost options in the nation’s hottest market, extending a housing boom that is one of the few bright spots in Canada’s otherwise tepid economy.

Wednesday’s report from the Canadian Mortgage and Housing Corporation (CMHC) showed the seasonally adjusted annualized rate (SAAR) of housing starts jumped 12.2% to 216,924 in August from an upwardly revised 193,253 units in July. Forecasters had expected 190,000 starts.  Read More >>



Total Building Permits in Canada Dip in July but Multi-family Plans Surge

The value of Canadian building permits issued in July fell less than expected as a decline in construction intentions for non-residential buildings was offset by a surge in plans for multi-family homes, data from Statistics Canada showed on Wednesday.  Building permits decreased 0.6% to $7.74 billion, far short of economists' expectations for a decline of 5.0%. June's figures were also revised up to an increase of 15.5%.  Read More >>   



Bank of Canada Holds Key Rate as Signs of Recovery Emerge

The Bank of Canada held its key interest rate at 0.5% on Wednesday amid a spate of improving economic news.

Looking at the rate of inflation, the impact of lower oil prices on Canada’s resource sector and the benefits of a falling dollar, the central bank said previous rate cuts are having stimulative effect on the economy.  Total inflation remains near the bottom of the bank’s target range, due to price declines in consumer energy products, the bank said in a statement. Core inflation has been close to 2%.  Read More >>      



Canada’s Economic Scoreboard: ‘Best. Recession. Ever’

The recession debate occurring now on airwaves and among armchair economy watchers isn’t a debate at all, according to the Bank of Montreal’s Doug Porter.

“If you are just returning from Kazakhstan, you may have missed that Canada officially reported two consecutive quarters of declining GDP in the first half of the year, which nearly everyone promptly labelled ‘Recession,’” BMO’s chief economist quipped in a note last Friday afternoon.

“Everyone except for the majority of economists, that is.”  Read More >>     



Canada Adds 12,000 Jobs in August, But Unemployment Rates Rises to 7%


Canada’s economy gained 12,000 jobs in August, bolstered by a gain in full-time employment, but more people were looking for work and the unemployment rate ticked higher for the first time in months. The unemployment rate increased to 7.0% for the month, up 0.2 from 6.8%, where it had held steady for six consecutive months, Statistics Canada reported last Friday.

The overall increase came as the number of full-time jobs grew by 54,400, offset in part by a drop of 42,400 part-time jobs.  Read More >>  



U.S. Job Growth Slows, Unemployment Rate Falls to 5.1%   

U.S. payrolls rose less than expected in August, but a drop in the unemployment rate to a near 7-1/2-year low of 5.1% and an acceleration in wages kept alive prospects of a Federal Reserve interest rate hike later this month.

Nonfarm payrolls increased 173,000 last month as the manufacturing sector lost the most jobs since July 2013, the Labor Department reported last Friday. It marked a slowdown from July’s upwardly revised gain of 245,000 and was the smallest rise in employment in five months.  Read More >>

  

 Upcoming CHHMA Events 

Industry Memorial Golf Classic
Wednesday, September 30, 2015
Blue Springs Golf Club, Acton, Ontario

Industry Cocktail
Date TBA, December, 2015
Location TBA, Montreal, Quebec

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 26, 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