11:16:21 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rona Inc
Symbol RON
Shares Issued 120,274,036
Close 2014-03-18 C$ 11.20
Market Cap C$ 1,347,069,203
Recent Sedar Documents

Globe says meagre rise in sales expected at HBC, others

2014-03-19 09:21 ET - In the News

See In the News (C-HBC) Hudson's Bay Company

The Financial Post reports in its Wednesday, March 19, edition that United States retailers will not ease pressure on Canadian rivals in 2014, says a new report from Moody's Investor Service predicting a meagre rise in retail sales in Canada of 1.5 per cent to 2 per cent. The Post's Hollie Shaw writes that is a far cry from the average annual growth rate of 5 per cent seen by the sector in the two decades before 2008. Moody's predicts Jean Coutu Group, Dollarama, Empire's Sobeys, Loblaw, Metro, Canadian Tire, Sears Canada, Hudson's Bay and Rona will see organic operating income growth of 2 per cent to 2.5 per cent in 2014 as the fight eats away at their margins and market share. A weakening Canadian dollar will also pressure margins of retailers that source their merchandise in U.S. dollars, notes Moody's. Making things worse, "overstretched households have become more price conscious as they rein in debt," the Moody's report said. Retail sales growth has slowed to less than 2-per-cent yearly. Grocers will feel among the greatest pressure in retail this year. "It will be hard for Loblaw, Sobeys and Metro to materially improve operating income for existing operations in 2014," says Moody's.

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