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Today's Top Stories
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Retail Scene
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Written by Michael J. Knell
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TORONTO (17 May 2012) - Sears Holding Corporation will reduce its stake in its Canadian operations from 95% to 51% by transferring approximately 45.1 million of its shares to other shareholders, a move some observers says is part of an effort by to keep itself funded while restructuring its own operations. |
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By the Numbers
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Written by Michael J. Knell
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TORONTO (17 May 2012) - Selling three unwanted leases back to the developer reversed last year's first quarter loss for multi-channel retailer Sears Canada, even though total revenue sagged 7.8% and same stores sales fell 6.3%. After its results were published, Sears Holding, its parent company, announced it was divesting itself of a sizable portion of its shares. |
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Appliance Beat
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Written by HGO Staff
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WASHINGTON (14 May 2012) - The Canadian Appliance Manufacturers Association will become AHAM Canada this July, the Association of Home Appliance Manufacturers (AHAM) has announced. |
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Other News |
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Target not likely to impact furniture stores, at least in the beginning, MMRR suggests |
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TORONTO (14 May 2012) - The arrival of Target on the Canadian retail scene isn't likely to have an immediate impact on furniture, home furnishings and appliance stores. But that could change once the high impact retailer opens its doors about ten months from now, the 2012 edition of the Major Market Retail Report (MMRR) suggests. |
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Leon's Q1 profit falls 16.4% |
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TORONTO (14 May 2012) - Despite a healthy 4.7% uptick in sales, Leon's Furniture reported a 16.4% drop in net earnings, which it attributed directly to increased marketing expenses and the cost of opening four new stores in late 2011. |
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Caber names U.S. sales leader |
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MARKHAM, Ontario (14 May 2012) - Added-value supplier Caber Sure Fit has named bedding industry veteran Mark Dentale as its new vice president of U.S. sales to lead the company's expansion efforts south of the border. |
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Consumer loans drive Easyhome Q1 growth |
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MISSISSAUGA, Ontario (10 May 2012) - Growth in its consumer loan segment continued to drive both revenue and earnings for Easyhome as sales in its core big ticket leasing business continued to stagnate, the company has reported. To staunch the bleeding, it plans to close some 15 stores during the first half of 2012. |
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HGO This Week Newsletter:
Site Search:
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Picture of the Day |
Canadian full-line furniture resource Groupe Bermex kicked-off this weekend’s High Point Market with a bang, welcoming retailers for the first time to The Factory, its new 95,000 square foot showroom facility. Bermex CEO Richard Darveau (centre) is seen cutting the ribbon to mark the opening. Looking on is company president Daniel Walker (left) and showroom designer Connie Post. Click here for our report.
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