Shoppers at Rona in Brossard, Que.Christinne Muschi
Hardware retailer Rona Inc. says fourth-quarter profit slipped about 28 per cent to $22.2-million on higher accounting charges.
The Quebec-based company said net income was 17 cents per share, a decrease from $30.8-million, or 24 cents a share, a year ago.
Revenue held relatively steady at about $1.14-billion, a drop of about $4.4-million from the comparative quarter.
The slide was caused particularly by a decline in sales for the retail and commercial segment, the company said.
Same-store sales were down 6.4 per cent in the three month period.
Rona is the largest Canadian retailer and distributor of hardware, home renovation and gardening products. Its 950 stores employ more than 30,000 employees across Canada and generate in excess of $6-billion on annual sales.