Quebec-based RONA, distributor and retailer of hardware, renovation and gardening products, reported a 3.8% increase in sales to $911.5 million in the first quarter 2008. Same-store sales declined by 5.2% in the first quarter of 2008.
Profit was $1 million, compared with $9 million in the year-ago period.
RONA said that economic and weather conditions that were especially unfavorable to construction/renovation activities, particularly in Eastern Canada, largely explain this drop in same-store sales and profits. Results were also affected by a decline in starts of single family homes in Canada and a temporary slowdown in the demand for building materials in Alberta.
The results for first quarter 2008 reflect the strong drop in consumer confidence in …
RONA Same-Store Sales Drop 5.2% in 1Q
Quebec-based RONA, distributor and retailer of hardware, renovation and gardening products, reported a 3.8% increase in sales to $911.5 million in the first quarter 2008. Same-store sales declined by 5.2% in the first quarter of 2008.
Profit was $1 million, compared with $9 million in the year-ago period.
RONA said that economic and weather conditions that were especially unfavorable to construction/renovation activities, particularly in Eastern Canada, largely explain this drop in same-store sales and profits. Results were also affected by a decline in starts of single family homes in Canada and a temporary slowdown in the demand for building materials in Alberta.
The results for first quarter 2008 reflect the strong drop in consumer confidence in …
Share this article
- Filed In: Free, News, Subscriber Only, Top Distributor Sectors
Log In
Read the latest articles and see your reports.
Popular Now
MDM Directories
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.
