Strong Renovation Demand Drives Richelieu Sales

Richelieu had consolidated sales of $311.2 million for the third quarter of 2020, an increase of 15.6 per cent over consolidated sales of $269.2 million for the corresponding quarter of 2019. Sales in the manufacturers market increased 5.4 per cent year-over-year, while sales to hardware retailers and renovation superstores stood increased 82.8 per cent. This substantial increase is attributable to the favourable fallout from strong demand in the renovation market in the context of the COVID-19 pandemic. In Canada, Richelieu had sales of $203 million, an increase of 12.8 per cent over the same period last year. Sales to manufacturers increased 4.2 per cent year-over-year and sales to hardware retailers and renovation superstores increased 52.7 per cent.