Cantrex members outperform competitors
By Michael J. Knell -- Furniture Today, August 17, 2009
TORONTO — Canadian furniture retailers haven't been putting up record sales this year, but Cantrex members are outperforming their competitors, management of the buying group told members at a regional meeting here just prior to the Toronto Summer Furniture Show.
The management also promised that the competitive edge will get even sharper in the coming months thanks to a variety of new initiatives set to be launched.
“Our sales are slightly better than last year, but they are trending below our 4% budgeted increase,” Jean Favreau, vice president of furniture, appliances and bedding, told members.
This was the first of three regional meetings the Montreal-based buying and marketing group will hold for its furniture, appliance and bedding division members. The next will be held in Montreal Sept. 19-20 and will include a mini-show featuring new product from core vendors.
A third regional conference will be held in Western Canada, although the dates and location haven't been set.
Cantrex will hold a national convention for all of its 850-plus members and seven industry segments in late 2010 as part of its 50th anniversary celebrations.
“We are generally satisfied with our results so far as they show good resilience to the economic and financial troubles plaguing the industry,” Favreau told the 25 or so member stores in attendance. “We've kept up our usual level of investment in new programs. We've been able to do this because we have zero debt and an enviable liquidity position versus our competitors.”
Same-store sales are down across the country, he reported, “most notably in Ontario, British Columbia and Alberta. These areas are suffering through tough economic conditions.”
“Year to date, furniture sales are down slightly or equal to last year. Our estimate, in furniture, is that we're more or less equal to the industry,” Favreau said, adding that “we're outperforming the bedding industry by 5.3% and our appliance sales are up 4.3% versus negative 12% for the industry.”
To date, Cantrex has recruited a total of 21 new members across its seven industry segments, including 16 in furniture.
The division has also signed on 26 new suppliers to date this year, including 20 furniture resources, two bedding suppliers and four appliance makers. Among the new initiatives is an exclusive private-label bedroom collection from Brazilian furniture maker Rotta; a new upholstery program from Décor-Rest; and exclusive access to appliance giant MABE Canada's new Café line. Cantrex members will also be offered Electrolux's Gallery Affinity line of home appliances later this year.
Members will also be offered nontraditional product lines as a means to boost sales, including the upcoming launch of a portable spa program.
New support services also will be launched in coming weeks, touching on areas as diverse as warehousing, furniture repair and business planning.
-
Guy Hodgins joins Cantrex's Vancouver office
Mar 11, 2011 -
Dennis Hoy joins FMG as merchandising director
May 24, 2012 -
Cantrex meeting set for Sept. 17-19
Sep 10, 2010 -
Mega Group USA signs up members at Las Vegas Market
Aug 13, 2010 -
Bazemore promoted to VP at Nationwide
Nov 5, 2011
VIEW ALL GALLERIES
