Home improvement retailer Rona has reported that consolidated sales rose 2.1% in the second quarter to reach C$1.4bn (£863.1m). Net earnings rose 12% to C$67.8m (£41.8m). Corporate and franchised stores’ sales were reported to have been strong in the early part of the quarter due to the gathering pace of economic recovery and housing market activity.

However, as the quarter progressed, sales were hit by poor weather, a decline in consumer confidence and a slowing down of the housing market across Canada. Lumber and HVAC (heating, ventilation and air conditioning) categories were strong, while seasonal and horticultural categories were weak.

Topics