Home Hardware turns in mid-year report card

Hardware Retailing, Sept, 2008

Home Hardware Stores Ltd. has been defying conventional wisdom that warns of a slowing economy with strong results during the first half of the year.

"Home dealers and staff across Canada have been working hard to grow our market share, seek out opportunities for growth and ensure our customers are receiving the superior customer service that sets us apart from the competition," says Paul Straus, vice president and CEO.

While retail sales information will not be available until the end of the year, the company confirms that shipments are up year-over-year. Straus points to activity within Home's four distribution centers across the country, which overall are achieving fill rates exceeding the target of 95.3 percent.

Demand orders, a special-order service available to Home Hardware customers, has also been making gains, So far this year, orders are up 7.4 percent, and in June alone, they were up 15 percent, representing almost $2.2 million in demand orders.

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"We are confident that the remainder of 2008 will bring new opportunities for growth as we look for innovative ways to remind Canadians that 'help is close to home,'" Straus says.