17:16:53 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Rona Inc
Symbol RON
Shares Issued 115,991,010
Close 2014-11-11 C$ 13.85
Market Cap C$ 1,606,475,489
Recent Sedar Documents

Globe/CP say Rona increases Q3 profit

2014-11-12 07:50 ET - In the News

The Globe and Mail reports in its Wednesday edition Rona plans to expand next year after its net profit surged nearly 30 per cent on the first increase in same-store sales it has seen in four years. A Canadian Press dispatch to The Globe says Rona's results have improved since it closed 11 unprofitable stores, eliminating 1,000 frontline and management positions, and cutting costs by $110-million a year. Same-store sales increased 3 per cent in the third quarter, including a 2-per-cent gain in retail and 8.3 per cent in the distribution segment. Quebec-based Rona ($13.85) said the sales were up despite the stagnant economy and slow housing starts in Quebec and the Atlantic provinces. Chief executive officer Robert Sawyer said the expansion will be "disciplined" and take place where it must protect its market share and where there is strong growth potential. The company plans on opening five stores in 2015. The company has updated its 16 Quebec Reno-Depots and is improving its inventory system. Rona earned $38-million or 32 cents a share for the period ended Sept. 28 compared with $30-million or 25 cents a year earlier. Revenue was $1.167-billion, flat compared with $1.169-billion a year before.

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