RONA Inc.
TSX : RON
TSX : RON.PR.A

RONA Inc.

August 10, 2011 08:34 ET

RONA Announces Its Second Quarter Results

Cost reductions and disciplined balance sheet management in a difficult market

BOUCHERVILLE, QUEBEC--(Marketwire - Aug. 10, 2011) - RONA inc. (TSX:RON)(TSX:RON.PR.A), the largest Canadian distributor and retailer of hardware, renovation and gardening products, today reported its financial results for the 13-week and 26-week periods ended June 26, 2011 (second quarter of 2011). All figures in this release are in Canadian dollars and presented according to IFRS accounting standards.

FINANCIAL HIGHLIGHTS

  • Compared to the second quarter of 2010:
    • Sales decreased 2.4%, or $34.2 million: same-store sales were down 9.6%, the contribution from acquisitions was 7.0%
    • EBITDA went from $133.1 million to $89.9 million
    • Net income attributable to participating shares of $37.0 million, compared to $66.3 million
    • Earnings per share of $0.28 (diluted), compared to $0.51 per share (diluted)
    • Cash flow from operations of $210.6 million, compared to $71.1 million
  • Counting on its strong free cash flow generation, the Corporation's Board of Directors approved the implementation of a normal course issuer bid, subject to the Toronto Stock Exchange approval, at its quarterly meeting

OPERATIONAL HIGHLIGHTS

  • Very poor weather conditions across Canada, particularly in April and May; consumers continued to take a careful approach to major renovation projects
  • Reduction in comparable retail and distribution inventories of $15 million, in line with the objective of reducing comparable inventories by $100 million by the end of 2011
  • Net change in working capital of $134.1 million compared to a negative variation of $42.2 million in 2010
  • CAPEX reduced to level lower than depreciation expense
  • Marked growth in penetration of private and controlled brands, from 24% to 28%
  • Recruitment of 7 new RONA affiliated dealer stores and 45 new TruServ Canada clients since the start of the year
  • Opening of 5 new points of sales specialized in plumbing under the Noble banner in the Commercial and Professional Market division

"For the second quarter in a row, very poor weather conditions, especially in April and May, and fragile consumer confidence significantly impacted our quarterly results," said Robert Dutton, President and CEO of RONA.

"Although the pressure on sales, and the promotional activities demanded by the context affected our earnings, we have managed the situation very prudently. We have, among other things, increased the sales penetration rate of our private-brand and controlled-brand products from 24% to 28%, reduced our same-store administrative expenses by 10% on an annualized basis, reduced our same-store retail and distribution inventories by $15 million, and been very disciplined in our capital investments, reducing them to less than the Corporation's depreciation expense. These measures will definitely have a positive impact on results in coming quarters," said Mr. Dutton.

Commenting on the outlook, Mr. Dutton noted: "Although there was less pressure on same-store sales in July, especially in Ontario, and sales in the kitchen and construction material categories were up sharply, we expect continued pressure on same-store sales overall until the end of the year in light of the fragile nature of consumer confidence in Canada and consumers' careful approach to major renovation projects. Given the situation, we implemented further efficiency improvement measures in the second quarter, which will permit us to improve the gross margin and reduce our sales and administrative expenses by the end of the fiscal year. We therefore expect to generate net income comparable to last year in the second half of the year."

Mr. Dutton added: "Although the current market conditions pose certain difficulties, I am convinced that we have the best business plan for dealing with the current and future changes in our industry. I also believe that a number of players are in a difficult situation, which will create opportunities for RONA and its affiliated dealers. In fact, our affiliated dealers are already taking steps as they are investing more than $30 million this year in a number of expansion and improvement projects, which shows their confidence in our development plan. Their sons and daughters are also very positive, as a number of them have used or are planning to use our unique succession-planning program and our store-purchase development fund."

Analysis of consolidated results

The results discussed and analyzed in this section are for the quarter ended June 26, 2011 and, when compared, are compared to the results for the quarter ended June 27, 2010, unless otherwise indicated.

Revenues

Revenues were $1,370.0 million, down $34.2 million, or 2.4%. The decrease stems from a 9.6% decline in same-store sales, including average deflation of 0.8% in forest-product prices. The slowdown in same-store sales was partially offset by acquisitions, which added $98.6 million in sales to the Corporation's consolidated revenues, for growth of 7.0%.

The corporate stores opened in the past year added $66.6 million and quickly achieved anticipated returns, generating positive EBITDA in the second quarter. The Commercial and Professional Market division also continued to generate good organic growth in sales. For RONA affiliated dealer stores, recruitment of new dealer-owners and expansion projects by existing dealer-owners helped offset the pressure on same-store sales.

The decrease in same-store sales stemmed from cold and wet weather in April and May all across the country, the decline in residential housing starts, and consumers' careful approach to renovation projects. Market conditions gradually improved during the quarter and in July, but the downward pressure on same-store sales continued. Ontario was less affected by lower sales, whereas in Western Canada, and particularly in British Columbia, the decline had a greater impact. Sales in the kitchen and install services categories were relatively good for the quarter and rose sharply in July. Sales of lumber and construction materials have been particularly weak since the start of the year and only began to strengthen in early July. Since more than 30% of RONA's sales are generated in these categories, the impact on consolidated results in the first three and six months of the year was significant.

Gross margin

Gross margin was 27.70%, down 46 basis points from second quarter 2010, and adjusted gross margin was 29.95%, down 63 basis points. Half of the reduction comes from a higher weighting of distribution sales in the total sales mix; the other half comes from increased promotional activities in the retail sector. Note that inventory quality was maintained even as inventories were reduced through promotional activities. These elements were partly compensated by shrink reduction and increased private and controlled brand sales. A major optimization plan was recently implemented to reverse the downward trend and improve the gross margin in the second half of the year (see Outlook for details).

EBITDA

EBITDA was $89.9 million, compared to $133.1 million in second quarter 2010, down $43.2 million, as a result of a $34.2 million decrease in the Retail and Commercial segment EBITDA and a $9 million decrease in the Distribution segment EBITDA.

EBITDA margin was down 292 basis points to 6.56% compared to 9.48% in second quarter 2010, reflecting a 293 basis-point decrease for the Retail and Commercial segment and a 277 basis-point decrease for the Distribution segment. In addition to the negative impact of the decrease in same-store sales and gross margin, the EBITDA and EBITDA margin were affected by $3 million in non-recurring expenses due to workforce reductions during the quarter. Despite these expenses, the Corporation reduced its administrative expenses for regular operations excluding acquisitions in the second quarter. These decreases, and those related to workforce reductions, result from optimization of our network and investments in information technology; on an annualized basis, they will decrease administrative expenses excluding acquisitions by more than 10%. The extra selling, general and administrative expenses related to acquisitions will also decrease as expected synergies are realized.

The EBITDA margin was also affected by new store openings and acquisitions, as the EBITDA margins of the acquired companies were lower than those of RONA's existing operations. The margins are expected to improve as synergies from recent acquisitions are realized in the coming quarters. Higher transportation expenses stemming from the higher gas prices, and temporary efficiency reductions due to lower volumes since the start of the year also had a negative impact on EBITDA and EBITDA margin.

Net income

Net income attributable to owners of RONA inc. amounted to $39.5 million, compared to $66.3 million in second quarter 2010, while net earnings attributable to participating shares, after the dividend on preferred shares, amounted to $37.0 million, compared to $66.3 million a year earlier. The difference is due to a decrease in operating profit and a slight increase in finance costs, partly offset by a decrease in depreciation and amortization expense and non-controlling interests. Earnings per share were $0.28 compared to $0.51 in second quarter 2010 (see Note 16 of consolidated financial statements for more information).

Analysis of consolidated results for the six-month period ended June 26, 2011

The results discussed and analyzed in this section are for the six-month period ended June 26, 2011 and, when compared, are compared to the results for the six-month period ended June 27, 2010, unless otherwise indicated.

Revenues

Revenues amounted to $2,288.3 million, down $72.9 million, or 3.1%. The decrease is due to a 10.8% decline in same-store sales. The slowdown in same-store sales was partly compensated by acquisitions, which added $167.5 million in sales to the Corporation's consolidated revenues, for growth of 7.1%.

The corporate stores opened in the past year added $113.4 million and the Commercial and Professional Market division continued to generate good growth in organic sales. The recruitment of new dealer-owners and the expansion projects of existing dealers also permitted the Distribution segment to generate sales growth despite lower same-store sales by affiliate dealer-owners.

The decrease in same-store sales stems from the poor weather conditions in the first half, particularly in March, April and May all across the country, the decline in housing starts, the absence of the home renovation tax credit at the beginning of the year compared to last year, and consumers' careful approach to their renovation projects. Market conditions gradually improved during the quarter, but the downward pressure on same-store sales continued. Ontario was least affected by the drop in sales, while Western Canada, and particularly British Columbia, was most affected. Sales of lumber and construction materials were particularly weak since the start of the year and only started to strengthen in early July, after the close of the second quarter. Since more than 30% of RONA's sales are generated in these categories, the impact on consolidated results in the first six months of the year was significant.

Gross margin

Gross margin was 28.41%, down 59 basis points from the first half of 2010, and adjusted gross margin was 30.33%, down 71 basis points. Half the reduction comes from a higher weighting of distribution sales in the total sales mix; the other half from increased promotional activities in the retail sector. Note that inventory quality was maintained even as inventories were reduced through promotional activities. These elements were partly compensated by shrink reduction and increased private and controlled brand sales. As indicated in the analysis of second quarter results, a major optimization plan was recently implemented to reverse this trend and improve the gross margin in the second half of the year (see Outlook for details).

EBITDA

EBITDA was $98.0 million, compared to $167.8 million in the first half of 2010, down $69.9 million, following a $57.0 million decrease in EBITDA in the Retail and Commercial segment and a $12.9 million decrease in EBITDA in the Distribution segment.

EBITDA margin declined 283 basis points to 4.28%, compared to 7.11% in the first half of 2010, reflecting a decrease of 304 basis points for the Retail and Commercial segment and 223 basis points for the Distribution segment. In addition to the negative impact of the decrease in same-store sales and gross margin, the EBITDA and EBITDA margin were affected by non-recurring expenses of $3 million due to workforce reductions in the first half.

The EBITDA margin was also affected by new store openings and acquisitions, as the EBITDA margins of the acquired companies were lower than those of RONA's existing operations. The margins are expected to improve as synergies are realized in the coming quarters. Higher transportation expenses stemming from the higher gas prices, and higher external warehousing costs given the higher level of inventory at the start of the year also had a negative impact on EBITDA and EBITDA margin.

Net income

Net income attributable to owners of RONA inc. amounted to $22.7 million, compared to $69.3 million in the first half of 2010, while net earnings attributable to participating shares, after the dividend on preferred shares, was $19.5 million, compared to $69.3 million. The decrease stems from a decline in operating profit and a slight increase in finance costs, partly offset by a decrease in depreciation and amortization expense and non-controlling interests. Earnings per share were $0.15, compared to $0.53 in the first half of 2010 (see Note 16 of consolidated financial statements for more information).

Cash flows and financial position

For the quarter ended June 26, 2011, cash flow from operating activities before net change in working capital, interest received and income taxes paid was $81.4 million, compared to $127.3 million in 2010. The decrease is mainly due to lower earnings before income tax expense, which went from $98.5 million in second quarter 2010 to $57.1 million in second quarter 2011. The net change in working capital was $134.1 million in second quarter 2011 compared to a negative change of $42.2 million in 2010. The strong increase stems mainly from an increase in trade and other payables. Note that despite the higher inventory stemming mainly from acquisitions, new stores and expansion of distribution operations in the Commercial and Professional Market division, same-store inventories for retail stores and distribution were down $15 million at the end of the second quarter 2011 compared to the same period in 2010. Moreover, since the beginning of the year, the variation of comparable inventories was $92 million less than the variation in the corresponding period of 2010.

Net of changes in working capital, interest received and income taxes paid, operations generated $210.6 million in the second quarter 2011, compared to $71.1 million for the corresponding period in 2010.

The Corporation continued to exercise disciplined financial management and strictly monitored investments in property, plant and equipment. For the second quarter, RONA invested $26.9 million in property, plant and equipment and intangible assets, $5.1 million less than the $32.0 million invested in the second quarter 2010. These investments were used to expand the Corporation's retail network, including finishing the construction of the new 68,000-square-foot RONA store in St.John's, Newfoundland and Labrador, ongoing improvements to information systems in order to improve operational efficiency and maintenance work.

In the first half of 2011, cash flows from operating activities before net change in working capital, interest received and income taxes paid amounted to $81.9 million compared to $156.3 million in 2010. The decrease is mainly due to lower earnings before income taxes paid, which declined from $102.2 million in the first half of 2010 to $32.6 million in the first half of 2011. The net change in working capital was a negative $7.9 million in the first half of 2011 compared to a negative $140.8 million in 2010. This strong increase is mainly due to an increase in trade and other payables in the second quarter and the reduction in comparable inventories.

Net of changes in working capital, interest received and income taxes paid, operations generated $49.2 million in the first half of 2011, compared to a negative change of $8.2 million for the same period in 2010.

For the first half of 2011, RONA invested $49.1 million in property, plant and equipment and intangible assets, $6.1 million less than in the first half of 2010, when such investments amounted to $55.2 million. RONA continued to exercise disciplined financial management, strictly monitoring investments in property, plant and equipment such that it now represents a lower amount than depreciation and amortization for the period. These investments were used to expand the Corporation's retail network, including finishing the construction of the new 68,000-square-foot RONA store in St.John's, Newfoundland and Labrador, ongoing improvements to information systems in order to improve operational efficiency and store renovation and maintenance.

RONA's balance sheet remains strong. On June 26, 2011, the Corporation's net indebtedness was only $261.6 million and the ratio of total net debt to capital was 11.05%, compared to 13.47% on June 27, 2010; the ratio of equity to assets was 63.26%, compared to 62.34%.

Dividends on preferred shares

At its meeting on August 9, 2011, RONA's Board of Directors declared a quarterly dividend of $0.3308 per share on cumulative 5-year rate reset Class A preferred shares, series 6. The dividend will be paid on September 30, 2011 to holders of record on September 15, 2011.

Dividends on common shares

At its meeting on August 9, 2011, the Board of Directors declared a semi-annual dividend of $0.07 per share on the Corporation's common shares. The dividend will be paid on September 26, 2011 to holders of record on September 10, 2011.

Outlook

Despite the Bank of Canada forecast of 2.6% economic growth in 2011, the housing industry continues to face tough market conditions. After a marked decline in housing starts since the beginning of the year, the situation improved in June and the average selling price of homes continued to climb. Usually this would promote home renovation, however, given consumers' high level of debt and current inflationary pressures, especially on gas prices, in general consumers are still being careful and selective in their discretionary spending. Furthermore, the Conference Board of Canada noted that the Consumer Confidence Index fell 2.5 points in June to 83.1, following upon a 2.1 points drop in May.

Given these factors and their influence on the renovation projects of Canadian consumers, the following measures were implemented by RONA starting in the first quarter to mitigate negative impacts on the Corporation's financial results:

  • intensification of the PEP program with an emphasis on supply chain management and store productivity;
  • a $25 million reduction in CAPEX, along with a strong focus on optimizing the existing network across the country through renovation, consolidation and information technology;
  • disposal of non-core land and assets; and
  • reduction in administrative expenses.

In the second quarter the Corporation:

  • reduced same-store retail and distribution inventory by $15 million compared to the same period a year ago. This is in line with the goal of reducing inventory by $100 million by the end of the year;
  • maintained strict control of investments in property, plant and equipment by limiting such investments to close to $50 million for the first half of 2011, which is less than the depreciation and amortization expense for the period. The Corporation expects to maintain it's CAPEX at a level in line with the capital investment for the second half also;
  • sold several pieces of land and secondary assets, as well as a lot in Beloeil, Quebec to one of our RONA dealers;
  • incurred a non-recurring expense of $3 million related to workforce reduction. Despite these unusual expenses, the Corporation reduced its administrative expense for regular operations excluding acquisitions in the quarter. These decreases, and those related to workforce reductions, result from optimization of our network and investments in information technology; on an annualized basis they will reduce administrative expenses excluding acquisitions by more than 10%.

These measures will be ongoing during the year to mitigate the ongoing pressure on same-store sales anticipated by the Corporation given the low level of consumer confidence and consumers' careful approach to major renovation projects.

In addition, starting in the second quarter, RONA implemented further optimization measures which will enable the Corporation to reverse the downward pressure on gross margin and reduce selling and administrative expenses in the second half of fiscal 2011.

The Corporation is managing this situation carefully and will continue to supply its affiliate dealer-owners with all the tools and support they need to embrace consolidation opportunities stemming from market conditions.

The above measures should enable RONA to keep its investment grade credit profile even as it continues to improve its competitive position in an industry in transformation. RONA management is confident that it has the most effective business model and financial flexibility to increase return on capital and take advantage of the current and future changes in its industry. Finally, counting on its strong free cash flow generation, the Corporation's Board of Directors approved the implementation of a normal course issuer bid, subject to the Toronto Stock Exchange approval, at its quarterly meeting.

Sustainability

Sustainable development is a core component of RONA's strategic plan. Key programs have been developed and introduced in response to the Corporation's objectives. In the past few years, RONA has undertaken a number of sustainability initiatives dealing with its products, procurement policies, environmental footprint and corporate governance. Here are new initiatives pursued in the first half of 2011:

  • In the second quarter, RONA, in partnership with Hydro-Quebec, les Rôtisseries St-Hubert, METRO and l'Agence métropolitaine de transport (AMT), announced that it was involved in setting up the first network of public charging stations for plug-in electric cars in Canada, the "Electric Circuit." Using clean and renewable energy, the first charging stations will become available in early 2012 at the business locations of the founding partners and at dedicated parking spots provided by the AMT. Electric-car drivers will be able to travel knowing that they can charge up at a public station when they need to. Initially, the Electric Circuit will provide one hundred 240-volt stations. Quick-charging (400V) stations will follow in 2012 once the certification process is completed in Canada.
  • Three new stores opened during the first quarter: a new 102,000-square-foot Réno-Dépôt store in Vaudreuil-Dorion, Quebec, a new 100,000-square-foot Réno-Dépôt store in the Quebec City borough of Sainte-Foy and a new 52,000-square-foot store under the TOTEM banner in Edmonton, Alberta. These stores were built to meet the criteria of the LEED system (Leadership in Energy and Environmental Design) for new buildings.
  • In March, the Maple Leaf Sports & Entertainment's (MLSE) Team Up Foundation, in collaboration with the City of Mississauga unveiled plans to refurbish the Burnhamthorpe Community Centre's outdoor rink. The MLSE Team Up Foundation, with the support of MLSE's Corporate Partner RONA, is investing $25,000 in significant upgrades and improvements to the rink. This marks the seventh such partnership involving RONA. Work on the arena will be completed in the spring with supplies donated by the Corporation. This is a continuation of RONA's long-standing commitment to Canadian sports, both professional and amateur. RONA was a National Partner of the Vancouver 2010 Olympic and Paralympic Games. As well, it will be a National Partner of the Canadian Olympic and Paralympic Teams through the London 2012 Summer Games.

Additional information

The Management's Discussion and Analysis (MD&A) and unaudited interim consolidated financial statements with notes for the second quarter of 2011 can be found in the "Investor Relations" section of the Corporation's website at www.rona.ca and on the SEDAR website at www.sedar.com. The Corporation's Annual Report, along with other information about RONA, including its Annual Information Form, can also be found on the RONA and SEDAR websites.

Telephone conference with the financial community

On Wednesday, August 10, 2011, at 11:00 a.m. (EST), RONA will hold a telephone conference for the financial community. To join the conference, please call 416-340-2216 or 1 866 226-1792. To listen to the call online, please go to http://webcasts.pqm.net/client/rona/event/151/en/.

Non-GAAP performance measures

In this report, as in our internal management, we use the concept of "earnings before interest, taxes, depreciation, amortization and non-controlling interest" (EBITDA). We also use the concept of "adjusted gross margin," which corresponds to revenues less the cost of goods sold, plus adjustments for network support.

While EBITDA does not have a definition that is standardized by IFRS, it is widely used in our industry and in financial circles to measure the profitability of operations, excluding tax considerations and the cost and use of capital. Adjusted gross margin is used by RONA's management to analyze the profitability of our network, after adjustments for network support. Given that these measures are not standardized, EBITDA and adjusted gross margin cannot be compared from one company to the next. Still, we establish them in the same way for each of the segments identified, and, unless expressly mentioned, our method does not change over time. EBITDA and adjusted gross margin must not be considered separately or as a substitute for other performance measures calculated according to IFRS, but rather as additional information.

The following table presents a reconciliation of these two measures to IFRS:

Reconciliation of non-GAAP measures Quarters ended

(Unaudited, in thousands of dollars, except margins in %)
June 26, 2011 June 27, 2010 $ change from 2010 % change from 2010
Revenues 1,370,046 1,404,219 (34,173 ) (2.4 %)
Cost of sales (990,600 ) (1,008,839 ) 18,239 1.8 %
Gross profit 379,446 395,380 (15,934 ) (4.0 %)
Gross margin (gross profit/revenues) 27.70 % 28.16 % - -46 b.p.
Adjustments for network support(1) 30,853 34,052 (3,199 ) (9.4 %)
Adjusted gross profit 410,299 429,432 (19,133 ) (4.5 %)
Adjusted gross margin (adjusted gross profit/revenues) 29.95 % 30.58 % - -63 b.p.
Selling, general and administrative expenses (320,412 ) (296,380 ) (24,032 ) (8.1 %)
Leases 40,236 36,663 3,573 9.7 %
EBITDA before leases 130,123 169,715 (39,592 ) (23.3 %)
EBITDA margin before leases (EBITDA before leases/revenues)
9.50
%
12.09
%
-

-259 b.p.
EBITDA 89,887 133,052 (43,165 ) (32.4 %)
EBITDA margin (EBITDA/revenues) 6.56 % 9.48 % - -292 b.p.
Finance income 1,340 1,253 87 6.9 %
Amortization, depreciation and impairment of non-financial assets
(26,062
)
(28,511
)
2,449

8.6
%
Operating profit 62,485 103,288 (40,803 ) (39.5 %)
(1) Corresponds to other costs incurred in brining the inventory to its present location and condition.
Reconciliation of non-GAAP measures Year to date

(Unaudited, in thousands of dollars, except margins in %)
2011 2010 $ change from 2010 % change from 2010
Revenues 2,288,257 2,361,139 (72,882 ) (3.1 %)
Cost of sales (1,638,054 ) (1,676,484 ) 38,430 2.3 %
Gross profit 650,203 684,655 (34,452 ) (5.0 %)
Gross margin (gross profit/revenues) 28.41 % 29.00 % - -59 b.p.
Adjustments for network support(1) 43,748 48,246 (4,498 ) (9.3 %)
Adjusted gross profit 693,951 732,901 (38,950 ) (5.3 %)
Adjusted gross margin (adjusted gross profit/revenues) 30.33 % 31.04 % - -71 b.p.
Selling, general and administrative expenses (596,001 ) (565,091 ) (30,910 ) (5.5 %)
Leases 81,816 72,552 9,264 12.8 %
EBITDA before leases 179,766 240,362 (60,596 ) (25.2 %)
EBITDA margin before leases (EBITDA before leases/revenues)
7.86
%
10.18
%
-

-232 b.p.
EBITDA 97,950 167,810 (69,860 ) (41.6 %)
EBITDA margin (EBITDA/revenues) 4.28 % 7.11 % - -283 b.p.
Finance income 2,711 2,267 444 19.6 %
Amortization, depreciation and impairment of non-financial assets
(52,359
)
(54,078
)
1,719

3.2
%
Operating profit 42,880 111,465 (68,585 ) (61.5 %)
(1) Corresponds to other costs incurred in brining the inventory to its present location and condition.

Forward-looking statements

This News Release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this News Release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Corporation may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.

For more information on the risks, uncertainties and assumptions that would cause the Corporation's actual results to differ from current expectations, please also refer to the Corporation's public filings available at www.sedar.com and www.rona.ca. In particular, further details and descriptions of these and other factors are disclosed in the MD&A under the "Risks and uncertainties" section and in the "Risk factors" section of the Corporation's current Annual Information Form.

The forward-looking statements in this News release reflect the Corporation's expectations as at August 10, 2011, and are subject to change after this date. The Corporation expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

About RONA

RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. RONA operates a network of more than 950 corporate, franchise and affiliate stores of various sizes and formats. With close to 30,000 employees working under its family of banners in every region of Canada and more than 17 million square feet of retail space, the RONA store network generates over $6 billion in annual retail sales. For more information, please visit www.rona.ca.

Contact Information

  • Media
    Nadia Goyer
    Senior Advisor, Communications and Public Affairs
    RONA inc.
    514-599-5900, ext. 5271
    nadia.goyer@rona.ca

    Financial Community
    Stephane Milot
    Senior Director, Investor Relations
    RONA inc.
    514-599-5951
    stephane.milot@rona.ca