Rona Plans Five New Stores Next Year

Home renovator Rona (Montreal) plans to open five new stores in 2015, including two Reno-Depot big box stores outside Quebec.

Rona closed 11 unprofitable stores in 2011, deriving $110 million in annualized cost savings and eliminating 1000 front-line and management positions, according to the Financial Post. The company reported this week that its net profit surged nearly 30 percent on the first increase in same-store sales it’s seen in four years.

“Given the positive trend in sales and profitability, and Rona’s solid financial situation, we are in a position to start expanding again,” said ceo Robert Sawyer.