Home
 
Choose Your City
Change City

Rona’s profit falls 90%

Rona Inc., the country’s biggest Canadian-owned home improvementretailer,  said severe winter storms, especially in Ontario and Quebec,contributed to a nearly 90 per cent decline in profits in the previousthree-month period as construction and renovation activity stalled.

Rona Inc., the country’s biggest Canadian-owned home improvement retailer, said severe winter storms, especially in Ontario and Quebec, contributed to a nearly 90 per cent decline in profits in the previous three-month period as construction and renovation activity stalled.


“The results for first quarter 2008 reflect the strong drop in consumer confidence in the country’s economic growth,” said Rona’s president and chief executive officer Robert Dutton.


The company said it earned $1 million, or 1 cent a share, in the three months ended March 30.

 
Consider AlsoFurther Articles