The profit amounts to
Last year's second quarter included a
The company has also been lowering prices, cutting the number of available products and introducing new categories of products to attract more customers to the stores.
"The progress achieved to date, under our business plan, shows that we have rolled out the right initiatives to improve efficiency and turnaround underperforming business units," chief executive
Rona said the net cost savings achieved by its plan added
"These savings directly contributed to a 25 per cent increase in adjusted net income in the second quarter and 80 per cent increase year-to-date," Sawyer said.
Consolidated revenues from continuing operations were lower at
Rona's adjusted net income from continuing operations for this year's second quarter was also
"Q2 results underscore that Rona management is doing a good job with controllable costs, but the challenging environment continues to moderate progress on rebuilding top-line momentum," Nattel wrote in a research note.
Rona operates a network of more than 500 corporate, franchise and affiliate stores under several different banners. It serves 276 Rona independent dealers and 200 TruServ Canada dealers from eight distribution centres and generates
In 2012, Rona it rebuffed a
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