The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Do the Canadian acquisitions perform better than U.S. ones?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: That's good color. And then my usual question on the M&A pipeline, how is it looking? And anything bigger than usual lurking there?
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JULY 06, 2023 / 6:30PM, RCH.TO - Q2 2023 Richelieu Hardware Ltd Earnings Call
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Sounds good. And how is the pace of sales trending thus far in Q3?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: Got you. And you mentioned that you're not seeing any real pricing declines beyond temporary promotions. Are your competitors remaining
rational in terms of pricing as they're working through excess inventory?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: That makes sense. Also on your competitors, are you seeing any pinch from higher interest rates on their part, maybe PE-backed players slowing
down on acquisitions?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: So I do know that it's very lumpy, but could you provide any color on what's happening in the retailers market?
Question: Zachary Evershed - National Bank Financial, Inc., Research Division - Analyst
: That's great information. One last one for me. You have the new investments coming online, costing about $8 million to $10 million. You have
about $6 million a quarter in costs related to the additional inventories that's going to come off as you gradually work through your excess inventory.
Is there -- in terms of timing, is there further downside from where we were in Q2, that 13% level due to a mismatch in additional costs coming in
versus costs coming out? Or should we see it tick up from here for the rest of the year?
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