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RONA inc. Cumulative Floating Rate Series 7 Class T.RON.PR.B



TSX:RON.PR.B - Post by User

Post by vessobon Nov 19, 2012 1:19pm
330 Views
Post# 20618335

CEO Niblock's actual comments on Canada

CEO Niblock's actual comments on Canada

David Gober - Morgan Stanley, Research Division

Okay. And my follow-up is on Canada. Just wondering if you could comment at all. Obviously, there's been a bit of a saga there with the interest in RONA, and then retracting the interest in RONA, now some movement in management at RONA. Could you just give us any kind of updated thoughts on how you're thinking about Canada and maybe in particular RONA, given some of the changes there?

Robert A. Niblock - Chairman, Chief Executive Officer, President and Chairman of Executive Committee

Yes, David. It's Robert. Certainly, any comments with regard to any specific company would not be appropriate. Or anything about the change in management as to why that took place, it's not appropriate for us to comment on that. I think as we've said before, we like Canada from a market standpoint and we're pleased with the performance of our 32 stores. I think we've got a couple of more opening before the end of the year. We're continuing to make improvements in the operations of those stores, but we need more scale. And so the scales we've talked about is going to come from opening additional big-box stores, looking at other formats. We just launched in October our e-commerce site in Canada. So that's a big plus, where now our consumers can buy online and have a product either shipped to their home or pick it up in store. I think we've got over 30,000 items available on the website. So we think that was a competitive disadvantage previously in the market. And we'll also continue to look at acquisitions as a potential way for expansion. So we're going to evaluate all options. But as far as any comments with regard to where we stand with a particular company, it would not be appropriate for me to address.

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