Richelieu Has Strong Canadian Sales

In Canada, Richelieu Hardware had sales of $730 million in 2020, compared with $686 million for fiscal 2019, up by $44 million or 6.4 per cent. Of this, five per cent was from acquisitions and 1.4 per cent from internal growth. Sales to manufacturers rose to $581 million, up by $12.2 million or 15.8 per cent. Sales to hardware retailers and renovation superstores reached $149 million, up 42.6 per cent compared with $117.3 million in 2019. This was up by $31.7 million or 27 per cent over fiscal 2019, of which 18.1 per cent came from internal growth. This increase is the result of major growth in the renovation market in Canada. Overall, consolidated sales increased 8.3 per cent to $1,127.8 million over 2019. Net earnings rose 28.2 per cent to $85.2 million.