RONA profits sink in third quarter
Canadian retailer and distributor RONA reported third-quarter earnings of $5.1 million, down from $47.8 million in the same quarter last year.
Consolidated revenues for the third quarter were fairly steady at $1.34 billion, down $10.6 million or less than 1% from the third quarter of 2011.
"The main drivers of our industry were flat or down during the quarter, whether we look at consumer confidence, housing starts or resales of homes or average resale price of homes," said CEO Robert Dutton during the company’s earnings call.
Factoring into the decline were the costs of converting many of the company’s big-box retail locations into smaller, neighborhood stores. These costs totaled $25.7 million, the Boucherville, Quebec-based company said. The company has about 830 stores carrying the RONA banner, of which about 80 are large-format retailers.
Alleged shoplifter used flare gun
Canadian Mounties have arrested a woman who allegedly used a flare gun in an attempt to steal more than $1,000 worth of merchandise from a Canadian Tire store in Courtenay, British Columbia.
According to an article in the Nanaimo Daily News, Mandy Lynn Bouzane was accused of threatening to kill a store employee by shoving a loaded flare gun in the store worker’s stomach in a Nov. 3 incident. Another employee who tried to intervene was bitten by the suspect, police said. Bouzane, who remains in custody, was charged with robbery using a firearm and assault.
DriTac promotes executive
Flooring products supplier DriTac has announced the promotion of Larry Scott to VP field technical services.
As technical director for DriTac, Scott has become a recognized industry expert in flooring, adhesives, proper substrate preparation, moisture-control systems and installation methods. Prior to joining DriTac in 1999, Scott owned his own flooring installation company. Responsible for multiple crews, he supervised flooring installations of all kinds for more than 30 years. Scott has built long-standing relationships in the flooring industry and often provides consultation and installation training to major flooring contractors nationwide.
Founded more than 55 years ago, DriTac Flooring Products supplies flooring adhesives from coast to coast through more than 100 distributors and in warehouses, including Clifton, N.J.; Dalton, Ga.; City of Commerce, Calif.; and Dallas.