Feb 21 Canada's top home-improvement retailer
and distributor Rona Inc reported a quarterly loss on
Thursday, due to charges related to restructuring, asset
impairments and other one-time items.
The company also outlined a three-year transformational plan
that will see it look to grow its core distribution business and
scale back on its big-box store strategy outside of its home
province of Quebec. In addition, Rona outlined plans to cut
about 200 full-time positions at administrative offices across
The net loss in the fourth quarter was C$17.9 million ($17.6
million) or 15 Canadian cents a share. That compared with a
year-earlier loss of C$153.6 million, or C$1.19 a share, when
its results were hit by a very large goodwill impairment charge.
Excluding one-time items, the company said earnings in the
period ended Dec. 30 fell to 5 Canadian cents a share, down from
15 Canadian cents a share, a year earlier.