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Richelieu Hardware Ltd (RCH-T) Quote - Press Releases

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Latest Press Releases

WestJet and WestJet Encore flight dispatchers reach tentative agreements
PR Newswire - Tue May 7, 10:08AM CDT
PR Newswire - PRNW
Tue May 7, 10:08AM CDT
CALGARY , May 7, 2019 /CNW/ - WestJet today announced that tentative agreements have been reached between both WestJet and the Canadian Airline Dispatchers Association (CALDA) and WestJet Encore and CALDA.
Richelieu reports on shareholders' voting results for the election of directors
Canada Newswire - Thu Apr 4, 4:11PM CDT
Canada Newswire - CMTX
Thu Apr 4, 4:11PM CDT
MONTREAL, April 4, 2019 /CNW Telbec/ - Richelieu (TSX: RCH) held its Annual and Special Meeting of Shareholders today. All the candidates proposed as directors were duly elected as directors of the Corporation by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting, as follows:
Richelieu increases sales in first quarter of 2019 and makes three new acquisitions in Canada
- CNW Group - Thu Apr 4, 8:50AM CDT
CNW Group - CMTX
Thu Apr 4, 8:50AM CDT
"Richelieu (TSX: RCH), began fiscal year 2019 with the acquisition of Lion Industries, Blackstone Building Products, and Truform Building Products, three specialty hardware distributors serving window and door manufacturers in Western Canada and Ontario. These acquisitions will reinforce our presence in these markets, increase our business in the window and door manufacturers segment, and add some $12 million in annual sales. In the first quarter, generally the weakest of the year, our results were affected by lower sales in the hardware retailers and renovation superstores market. This is due to the fact that in the first quarter of 2018, in Canada, our sales were exceptionally high for a first quarter, whereas in the first quarter of 2019 they were impacted by inventory realignment by our retailer customers which have not shown sales growth. In addition, one of our major Canadian customers closed several stores. It should be noted that Richelieu did not lose any market share among retailers. In the United States, the decline in the hardware retailers market sales compared to the same period in 2018 was due to the temporary impact of higher cyclical sales to a major customer in the first quarter of 2018. Otherwise sales in this market would have been up 50% due to the addition of new products and new customers. We believe we will recoup these sales in the coming quarters given their cyclical nature. Our financial position is impeccable, almost debt free, allowing us to pursue our growth strategy. We are on the lookout for new acquisitions and confident to post positive results in subsequent periods." commented Richelieu president and CEO, Richard Lord.
Media Advisory - Richelieu invites the members of the media and the financial community to attend its Annual General Meeting of Shareholders
- CNW Group - Wed Apr 3, 7:00AM CDT
CNW Group - CMTX
Wed Apr 3, 7:00AM CDT
Richelieu (TSX: RCH) will be holding its Annual General Meeting, Thursday, April 4, 2019 at 10:30 a.m. at the Novotel, 2599 Alfred-Nobel Blvd., Ville Saint-Laurent.

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