Richelieu Has Strong Sales Growth

Richelieu Hardware's second-quarter consolidated sales reached $371.4 million compared to $248.3 million for the corresponding quarter of 2020, an increase of $123.1 million or 49.6 per cent, of which 46.8 per cent came from internal growth and 2.8 per cent from acquisitions. In Canada, it recorded sales of $248.1 million, an increase of $92.9 million or 59.8 per cent over the second quarter of 2020. Sales to manufacturers amounted to $203.7 million, compared to $124.6 million in the second quarter of 2020, an increase of 63.5 per cent. Sales to hardware retailers and renovation superstores reached $44.4 million, up $13.8 million or 45.1 per cent over the corresponding quarter of 2020. The significant increase in internal growth in these two markets was influenced by strong demand in the renovation market.