Content about Economy of Canada

August 7, 2012

While Lowe’s offer sheet said it would protect Canadian jobs – or even expand them – if it were to acquire Quebec-based RONA, the Canadian Teamsters aren’t so sure.

The Teamsters Union in Canada has come out against a Lowe’s takeover play for RONA, which the Teamsters describe as “a Québec jewel in the hardware and renovation industry.”

August 17, 2011

BlueLinx Holdings, a leading distributor of building products in North America, announced that its indirect subsidiary BlueLinx Building Products Canada has entered into a revolving credit agreement with CIBC Asset-Based Lending. The new credit facility provides for borrowing capacity of up to $10 million and has a term of three years, maturing on Aug. 12, 2014.

June 29, 2011

Canadian Tire is making a strong push into major appliances.

The 1,200-store Canadian chain now offers Inglis refrigerators, washers, dryers, dishwashers and cooking ranges, as well as Amana freezers and microwaves at its stores across the country.

The expansion into appliances follows an 11-store test last year. 

May 10, 2011

Canadian Tire Corp. has signed an agreement to purchase The Forzani Group (FGL), Canada’s leading sporting goods retailer with 500 outlets across the country and revenues of $1.4 billion a year. The all-cash deal, in which Canadian Tire will purchase all the outstanding shares of FGL for $26.50 per share, has the support of the FDL board of directors, which is recommending to its shareholders to tender their shares to the offer. It is expected to close in the third quarter of 2011 pending regulatory approval.

February 11, 2011

Canadian Tire reported gross revenues of $2.5 billion for its fourth fiscal quarter of 2010, a 4% rise over the same quarter a year ago. Same-store sales for the quarter dropped 0.4%, however.

Consolidated retail sales for Canadian Tire rose 2.4% in the fourth quarter to $3.1 billion.

For the year, gross revenues rose 3.4% to $9 billion. Consolidated retail sales rose 3.1% to $10.3 billion.

Same-store sales rose 0.8% for the full year.

February 1, 2011

RONA, one of Canada’s largest chain of home improvement retail outlets, has announced that it will launch an offering of rate reset preferred in partnership with a syndicate of underwriters led by National Bank Financial Inc. and BMO Capital Markets, who are acting as joint book runners.

November 9, 2008

Stephen Wetmore has served as an independent member of the board of directors of Canadian...

October 30, 2008

The Canadian retailer will open two stores in Ontario that sell convenience foods like milk,...

August 21, 2008

The transaction is expected to close in September 2008. The company did not disclose a buyer....

July 21, 2008

Lowe’s has announced three new stores to be opened in Canada in the fourth quarter...

June 19, 2008

Canadian Tire is contracting with Genco Distribution System, a third-party logistics provider with 125 locations...

March 30, 2008

The Canadian DIY retailer will phase out its paper catalogs, sent to approximately 6 million...

March 18, 2008

Based in Toronto, Canadian Tire operates about 360 Mark’s Work Wearhouse stores currently....

February 7, 2008

Sales were C$2.51 billion, up 3.3 percent from C$2.43 billion in the previous year....

January 13, 2008

Many of the customers who came to Lowe’s grand opening in Brampton, Ontario, didn’t have...

January 13, 2008

Many of the customers who came to Lowe’s grand opening in Brampton, Ontario, didn’t have...

October 15, 2007

RONA and Wal-Mart Canada help kick off the 12th Annual Hardlines Conference held in the...

October 8, 2007

The Canadian home improvement market continues to grow steadily – further illustrating its potential, Canadian...

August 9, 2007

The retailer posted strong earnings of $122.3 million, up 18.4 percent from $103.3 million last year....