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HBSDealer Stock Watch: Bears over Bulls

BY HBSDEALER Staff

Tuesday saw decliners significantly outnumber gainers for the second consecutive day. There were exceptions — HBP was up 1.49%, and WDFC gained 0.80%.

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Western fires pose huge housing risk

BY HBSDealer Staff

According to a CoreLogic hazard risk analysis, a total of 172,117 homes with a combined reconstruction cost value of more than $65 billion are at some level of risk from the wildfires in the Napa and Santa Rosa metropolitan areas.

CoreLogic is a property information company. It released its analysis Tuesday morning. 

The analysis is calculated based on homes within these two Core Based Statistical Areas and on five active fires — three in Napa (Patrick, Atlas and Tubbs) and two in Santa Rosa (Nuns and Pocket). Statewide, a total of 9.1 million homes with a combined RCV of $3.1 trillion are at some level of risk from wildfires in California. 

Of the total at-risk homes in Napa and Santa Rosa, 11,058, or 6%, with an estimated RCV of more than $5 billion are at significant risk of damage, falling in the High and Extreme risk categories, according to CoreLogic data. Although the majority of homes, 161,059, or 94%, are at Low or Moderate risk of damage, wildfire can easily expand to adjacent properties and cause significant damage even if a property is not considered high risk in its own right. 

As of Tuesday, the deadly wildfires in California still raged, but the latest reports indicated that authorities expected help from the shifting weather. 

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Lowe’s converts another RONA

BY HBSDealer Staff

Lowe’s Canada opened its second store under the new model of Lowe’s stores in Canada striving for an enhanced shopping experience. The Langford store, located at 850 Langford Parkway, was converted from the former RONA Home and Garden.

The new Langford Lowe’s marks the company’s 58th store in Canada under the Lowe’s banner and the banner’s second Lowe’s location in the Victoria market. The store represents a local investment in excess of $7.8 million.

The 140,036 square feet facility overall includes 73,349 square feet of retail sales space, an adjacent Garden Centre of 28,315 square feet, a covered lumberyard of 24,155 square feet, and an additional outdoor drive thru lumberyard of 14,217 square feet.

“As we are actively pursuing the evolution of Lowe’s Big Box in Canada, we are happy to offer the Langford community a new shopping experience by taking the best of what both Lowe’s and RONA banners have to offer to create a new Lowe’s Big Box model,” says Guy Beaumier, Interim Executive Vice President, Lowe’s Canada Big Box Retail. “We spared no efforts in order to provide our customers enhanced offers in product, pricing, services and financing, including new features for our Contractor clientele.”

The first converted store was in Edmonton North, Alberta.

The Langford store underwent an extensive 16-week physical transformation from the former RONA which involved construction, departmental sequencing of new racking and re-merchandising, branding and IT conversion. The company said it also made a significant investment in training focused on new product knowledge and customer service.

Among the enhancements, the company pointed to:

  • A wider assortment of Seasonal products such as Patio, Holiday and Halloween including the latest fashion trends.
  • The introduction of entirely new product categories including Appliances, Lowe’s private labels, and top brands such as John Deere, Husqvarna, and Cub Cadet.
  • A broader selection of Fashion Plumbing products such as tubs, showers, toilets, vanities, sinks and faucets with the introduction of high profile brands such as Kohler and Grohe.

For the contractor, the new store introduced Contractor Rewards Program, a loyalty and pricing program for pros. It also offers access to a drive through lumber yard where contractors can load their vehicles directly.

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