Richelieu Hardware Ltd. (OTCPK:RHUHF) Q1 2025 Earnings Conference Call April 10, 2025 3:30 PM ET
Company Participants
Richard Lord – President and Chief Executive Officer
Antoine Auclair – Chief Financial Officer and Chief Operating Officer
Conference Call Participants
Zachary Evershed – National Bank
Nikolai Goroupitch – CIBC Capital Markets
Operator
Good afternoon, ladies and gentlemen, and welcome to Richelieu Hardware First Quarter 2025 Results Conference Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session, which will be restricted to analysts only. [Operator Instructions] Also note that this call is being recorded on April 10th, 2025. [Foreign Language]
Richard Lord
Merci. Thank you. Good afternoon, ladies and gentlemen, and welcome to Richelieu’s conference call for the first quarter ended February 28th, 2025. With me is Antoine Auclair, CFO and COO. As usual, note that some of today’s issues include forward-looking information, which is provided with the usual disclaimer as reported in our financial filings. Richelieu made a strong start in 2025.
While the first quarter is generally the weakest period of the year and market conditions remain relatively stagnant, our total sales climbed by 8.6%, driven equally by internal growth and acquisition. This increase reflects the good performance of the manufacturers market, where sales were up 10%, thanks to our strategy of innovation, acquisition, market penetration and value added service.
In the retailers and renovation superstores market, overall sales were stable compared with the first quarter of 2024. In order to maintain our strategic advantage as market leader, we are investing substantially in this market to update our programs and product lines in retailer stores as well as introducing new products.
We see these initiatives are already starting to bear fruit with sales growth in Canada. We are also very pleased
