The Investment Reporter, in its May 10, 2013, issue, says hold Rona Inc., recently $10.33. The Reporter said buy on July 3, 2009, at $12.82, and on Jan. 21, 2011, at $13.84. Assuming a $1,000 investment for each buy, the $2,000 position would now be worth $1,549. Credit ratings agency DBRS cut Rona's credit rating to below investment grade. It says Rona's EBITDA and EBITDA profit margins declined for a third year in a row in 2012. It also notes increasing competition from Home Depot and once-suitor Lowe's Companies. To improve its profit, Rona has appointed Robert Sawyer as CEO and created a 2013-2015 "transformational strategy." This includes cutting administrative costs by laying off 200 employees, which will lead to a one-time restructuring charge of $25-million and add $45-million to EBITDA over two years. This makes sense to the Reporter. Other plans include improving merchandising and pricing; rationalizing non-core assets; and expanding its core market. The Reporter says Rona's earnings should improve as management implements its goals. Rona expects to earn 64 cents a share in 2013 and 78 cents a share in 2014. It remains a hold until it shows it can raise earnings.