DOCSLIB.ORG

Annual Report 2013

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2013 Bigger and Better Annual Report 2013 ABOUT US Founded in 1909 by Ablan Leon, Leon’s Furniture Limited has grown into the largest home furnishing retailer in Canada, with a modern network of 312 stores selling a wide range of furniture, major appliances and home electronics. Today, with annual total system-wide sales of over $2 billion and over 8,600 associates across the country, Leon’s remains committed to the standards of service, integrity and trust established by its founder more than 100 years ago. Financial Highlights ($ in thousands, except per share amounts) 2013 2012 % Change Revenue $ 1,694,643 $ 682,163 148.4% Income before income taxes 91,556 63,683 43.8% Net income 67,183 46,782 43.6% Cash generated from operations 83,120 49,221 68.9% Dividends paid 28,239 38,449 (26.6%) Per common share Net income $ 0.95 $ 0.67 41.8% Cash flow generated from operations $ 1.18 $ 0.70 68.6% Dividends declared $ 0.40 $ 0.40 – Shareholders’ equity at year end $ 7.03 $ 6.46 8.8% REVENUE NET INCOME SHAREHOLDERS’ EQUITY PER SHARE ($ in thousands) $1,694,643 ($ in thousands) $67,183 ($ per share) $7.03 2,000,000 70,000 7 1,750,000 60,000 6 1,500,000 50,000 5 1,250,000 40,000 4 1,000,000 30,000 3 750,000 500,000 20,000 2 250,000 10,000 1 0 0 0 09 10 11 12 13 09 1011 12 13 09 1011 12 13 Note: Leon’s 2013 results include operations of The Brick Ltd. from March 28, 2013. Leon’s March 28, 2013 acquisition of The Brick Ltd. created the biggest retailer of home furnishings, appliances and electronics in Canada. This landmark combination of industry leaders has also made us a better retailer, with significantly higher earnings per share in 2013 and abundant opportunity to keep improving the profitability of our business over the next several years. President’s Message to Shareholders A Remarkable Year Of the many milestones Leon’s has achieved since 1909, none has been greater than last year’s acquisition of The Brick Ltd. Today, our two storied brands comprise the largest retail network for home furnishings, appliances and electronics in Canada, but our plans to realize the full potential of this historic combination have just begun. TERRENCE T. LEON, President and Chief Executive Officer THE IMPACT OF THE APPROXIMATELY $700 million purchase of respect over the past 43 years. As a result, our two The Brick was most clearly visible in Leon’s 2013 financial major banners serve surprisingly distinct customer results. For the year, system-wide sales were $2,039 groups within the competitive landscape. Both also million including $344.8 million of franchise sales, compared command a position of relative strength in their original to markets. The acquisition of The Brick has significantly $880.2 million in system-wide sales and $198.1 million in strengthened Leon’s presence in Western Canada—the franchise sales in 2012. country’s fastest growing region—while enhancing the Net income also increased significantly, rising in every geographic diversification of our business. successive quarter of 2013 and ending the year at $67.2 million or $0.95 per common share, an increase Although Leon’s and The Brick will continue to operate of 41.8 percent. This improvement reflects the earnings under separate banners, integration teams drawn from contribution from The Brick as of March 28, 2013 as well both divisions have been working from day one to identify as other factors. operating synergies and leverage the best practices throughout our core business processes. Our first order Beyond the immediately positive effect the acquisition of of business has been information systems, where we have The Brick had on Leon’s financial results, its greatest value already approved the development of a next-generation is yet to be realized as we integrate and optimize platform that will allow us to standardize processes across the core functions of our combined operations over the both divisions. It will also make it easier for customers next few years. In doing so, however, we will be careful to choose when and how they wish to shop with us by to preserve the hard-earned market positions of both expanding our online retailing presence and adding the banners by managing The Brick and Leon’s as separate capacity to incorporate emerging mobile technologies. operating divisions. The acquisition of The Brick has also given us the The Brick’s winning corporate culture helped make this opportunity to improve the way we provide warranty an easy decision. Similar to Leon’s, it is a successful, family- service to our customers. While Leon’s warranty work founded business. The Brick’s greatest intangible asset is was previously outsourced, we now own a separate service the enormous goodwill that has come from treating its company that is generating profit by handling the service customers, employees and communities with care and work of our combined operations as well as third-party clients. 02 LEON'S FURNITURE LIMITED Our combined team will have access to national buying opportunities in merchandising and marketing, and a national distribution network that will enable us to greatly enhance our online shopping capabilities. We have significantly increased earnings per share with abundant opportunity for ongoing improvements as fundamental business processes are integrated and optimized. While our greatest opportunities for income growth are within the walls of our existing operations, we will also continue to pursue the expansion of both divisions in selected markets. In 2013, we celebrated the grand openings of Leon’s corporate stores in Orangeville and Brantford, Ontario, and Sherbrook, Quebec. We also celebrated the grand openings of a new Leon’s franchise store in Saint-Georges, Quebec and two new Brick franchise stores in Collingwood, Ontario and Swan River, Manitoba. In addition, new Brick stores opened in Hamilton and Waterloo, Ontario. Also, three Brick stores were remodeled in Hamilton, Kitchener and Scarborough, Ontario. Finally, a brand new replacement store was opened in Brantford, Ontario As you will see on pages 6 and 7 of this report, Leon’s is a bigger company than ever before. Today, our retail network consists of 312 stores and six strong banners from coast to coast. It is complemented by the industry’s most extensive distribution network as well as in-house service capabilities that back up every product we sell. These are the three pillars of success in our business and each of them has been significantly strengthened during the course of the past year. After 105 years in this business, we have also learned that opportunities to acquire another industry leader don’t come along every day. Our ability to take advantage of this opportunity was a function of Leon’s traditionally conservative approach to financial management, including a balance sheet that was debt free at the end of 2012. Our financial strength made it possible to seize this compelling opportunity amid the slow pace of growth in the Canadian retail sector. We took on a prudent amount The Brick’s Midnorthern of debt to do so, in a relatively low interest rate environment, and are confident in Appliance banner and Appliance our ability to retire this amount from the cash flows of the business over the next Canada make Leon’s the few years. In the meantime, we have significantly increased earnings per share with country’s largest commercial abundant opportunity for ongoing improvement as fundamental business processes retailer of appliances to builders, developers, hotels and property are integrated and optimized. management companies. As for the year ahead, we expect that the Canadian economy will continue to grow at a modest pace, as consumers remain cautious about the prospects for a full economic recovery. Generating growth within this environment has been a challenge for Leon’s and most other Canadian retailers. We have been in business long enough to know that pent-up demand will lead to stronger consumer spending in our industry but do not expect this to happen until the latter half of 2014 at the earliest. In closing, I would like to extend my sincere appreciation to all of the talented executives, corporate and franchised store management teams and associates throughout our operating divisions. Together, they have gone about the business of serving our customers well, despite the distractions and demands of a truly remarkable year. With their continued support, I am confident that we will continue to improve Leon’s performance and successfully advance our growth initiatives in the year ahead. (signed) TERRENCE T. LEON President and Chief Executive Officer ANNUAL REPORT 2013 05 At-A-Glance Coast to Coast SINCE LEON’S WAS FOUNDED MORE than a century ago, Warehouse, The Brick Mattress Store, Brick Clearance our history has been one of continuous expansion and Centres, and Midnorthern Appliance. The Midnorthern innovation. In 2013, we took the biggest step in our Appliance banner, in combination with Leon’s Appliance evolution to date with the acquisition of The Brick Ltd. Canada banner, has made us the country’s largest This combination of industry leaders represents the largest commercial retailer of appliances to builders, developers, network of home furnishing, appliance and electronics hotels and property management companies. stores in Canada. Equally important, this transaction has brought together On March 28, 2013, Leon’s completed the acquisition two storied Canadian companies with complementary of The Brick Ltd. for approximately $700 million. This geographic footprints that strengthen our position in the landmark transaction created the largest retailer of home home furnishings marketplace.
Load more

Recommended publications
  • Notice of Annual Meeting and Special Meeting of Unitholders and Management Information Circular
    Notice of Annual Meeting and Special Meeting of Unitholders and Management Information Circular March 24, 2017 BOYD GROUP INCOME FUND NOTICE OF ANNUAL MEETING AND SPECIAL MEETING OF UNITHOLDERS TO BE HELD MAY 12, 2017 NOTICE IS HEREBY GIVEN that the Annual Meeting and Special Meeting of the Unitholders of Boyd Group Income Fund (the “Fund”) will be held at the Hilton Winnipeg Airport Suites Hotel, 1800 Wellington Avenue, Winnipeg, Manitoba on Friday, May 12 at 1:00 p.m. (local time) for the following purposes: 1. to receive the consolidated financial statements of the Fund for the year ended December 31, 2016 and the Auditor’s Report thereon; 2. to appoint Trustees for the ensuing year; 3. to elect nominees of the Fund to serve as Directors of The Boyd Group Inc. and Boyd Group Holdings Inc.; 4. to appoint auditors for the ensuing year and authorize the Board of Trustees to fix their remuneration; 5. to pass a special resolution, confirming an amendment to the Trust Declaration, adding Section 12.12, Nominations of Trustees 6. to transact such other business as may properly come before the Meeting, or any adjournment thereof. Unitholders who are unable to attend the meeting in person are requested to complete, date and sign the enclosed form of Proxy and return it, in the envelope provided, to the Secretary-Treasurer of the Fund, c/o Computershare Trust Company of Canada, 8th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y1, Attention: Proxy Department or via Phone: 1-866-732-8683, or by Internet voting at www.investorvote.com, at least 24 hours prior to the Meeting or any adjournment thereof, failing which the Proxy will be invalid.
    [Show full text]
  • Live Canadian Bank and Supplier Connections NAME TYPE
    Live Canadian Bank and Supplier Connections NAME TYPE ENHANCED Alterna Savings Banks and Credit Cards Amazon.ca Rewards Visa from Chase Banks and Credit Cards American Express (Canada) Banks and Credit Cards YES American Express Merchant Services (EUR) Banks and Credit Cards Assiniboine Credit Union Banks and Credit Cards ATB Financial (Business) Banks and Credit Cards YES ATB Financial (Personal) Banks and Credit Cards BMO Debit Card Banks and Credit Cards YES BMO Nesbitt Burns Banks and Credit Cards BMO Online Banking for Business Banks and Credit Cards Canadian Tire Options MasterCard Banks and Credit Cards Canadian Western Bank Banks and Credit Cards YES Capital One Mastercard (Canada) Banks and Credit Cards CHASE Bank Canada Banks and Credit Cards CIBC Banks and Credit Cards YES CIBC Wood Gundy Banks and Credit Cards Coast Capital Savings Banks and Credit Cards YES Costco Capital One Credit Card Banks and Credit Cards CUETS: Choice Rewards Mastercard Banks and Credit Cards Desjardins Business Banks and Credit Cards Desjardins VISA Banks and Credit Cards Envision Financial Banks and Credit Cards First National Financial Banks and Credit Cards Ford Credit (Canada) Banks and Credit Cards HBC Credit Card Banks and Credit Cards Home Depot Consumer Credit Card (Canada) Banks and Credit Cards Home Depot Revolving Commercial Charge Card (Canada) Banks and Credit Cards HSBC Bank Canada Banks and Credit Cards HSBC MasterCard Banks and Credit Cards Interior Savings Credit Union Banks and Credit Cards Island Savings Banks and Credit Cards MBNA
    [Show full text]
  • Frequently Asked Questions Regarding the Chicago Jr Blackhawks Brick Team
    Frequently Asked Questions regarding the Chicago Jr Blackhawks Brick team What is the Brick tournament? For those not familiar with the Brick tournament, it is one of the most prestigious hockey events available for players at the 10 & Under age level. The Chicago Jr Blackhawks Brick team is the only sanctioned program (for the past 11 years) that can bring an Illinois team to the actual Brick Tournament in Edmonton, Alberta. The Brick is offered for the 2011 age group in the summer of 2021. Select teams from all over the North American continent attend this renowned summer tournament which offers many young promising hockey players and their parents a first opportunity to compete in a very elite international environment. Not only does the tournament provide great hockey, but also a number of off-ice activities including the famous Brick Tournament Beach Party at the Water Park and skills competition which makes the tournament a special fun-filled hockey experience for the entire family. We have sent a Chicago Jr. Blackhawks team for the past nine years and it is easy to see why the Brick is so highly regarded. There is no stone left unturned by the tournament staff and the production of games is at an NHL level. From the introduction of the teams to warm up music to the playing of the anthems to the post game drinks and food in the locker rooms to the media credentialing to the play by play call of every game to the team photographers to the gift bag that each player receives.
    [Show full text]
  • Leduc Common NWC of Highway 2 & 50 Avenue Leduc, AB
    LEDUC COMMON NWC OF HIGHWAY 2 & 50 AVENUE LEDUC, AB RETAIL SPACE FOR LEASE IMMEDIATE POSSESSION 1,200 - 6,728 SQ. FT. 50 AVENUE HIGHWAY 2 61,570 VPD (2011) NOW OPEN! DETAILS FEATURES • Area: 1,200 sq. ft. - 5,835 sq. ft. • Join this premier shopping destination anchored • Net Asking Rate: $30.00/sq. ft./year by Wal-Mart, Canadian Tire, and Rona • Additional Rent: $7.94/sq. ft./year (2015) • Many national tenants are present in Leduc • Parking: 6.86/1,000 sq. ft. Common: Tim Hortons, Dairy Queen, Staples, • Occupancy: Immediate possession Sportmart, Shell, TD, Canadian Western Bank, • Leduc Population: 27,241 people (2014) The Brick, Penningtons, Reitmans, Mark’s Work • Primary Trade Area: 86,000 people Wearhouse, Warehouse One, Sport Chek, • County of Leduc Average Household Income: $108,000 Winners and Michaels For more information, please contact: CUSHMAN & WAKEFIELD EDMONTON BRETT KILLIPS BRANDON ROSSER Suite 2700, TD Tower Partner Sales Associate 10088 102 Avenue (780) 702 2948 (780) 701 3286 Edmonton AB T5J 2Z1 [email protected] [email protected] www.cwedm.com No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any specific listing condition, imposed by our principals. LEDUC COMMON 1,200 - 6,728 SQ. FT. Retail Space for Lease AVAILABLE 25.26% LEDUCY COMMON 349 CARS 349 269 CARS269 R A1-2 ± 6,500 ± S.F. ± 72,290 ± S.F. ± 18,000 ± S.F.
    [Show full text]
  • Chase Gardiner Cinematographer / Storyteller 403.990.1087 • [email protected] •
    Chase Gardiner cinematographer / storyteller 403.990.1087 • [email protected] • www.cgcinematography.com Feature Length Director / DP Bone Hunters Cinematographer Documentary Director: Ryan Northcott John 316 Cinematographer Narrative Film Director: Jarvis Greiner Thousand Yard Stare Cinematographer Narrative Film Director: Aaron Kurmey Award Winning Michelles Hope Cinematographer Documentary Director: Jillian Lee True Fiction A Camera Operator Narrative Film DP: Ian Lister Award Nominated There by Grace A Camera Operator Narrative Film DP: Brad Allen Award Winning Everfall Gaffer Narrative Film DP: Aaron Bernakavitch Award Nominated And the Oscar Goes To Gaffer Foreign Film Director: Salim Amd Gone by Dawn Cinematographer Narrative Film Director: Shaun Donnelly Breaking Spirits Cinematographer Narrative Film Director: Shaun Donnelly Rock Paper Dice Enter 1st AC / 2nd Unit Cinematographer Narrative Film DP: Adam Lee Award Winning Commercial (selection) Agency AMA - April Fools Cinematographer Social Media / Pre Roll Freshwater Creative Award Winning AMA - Travel (various) Cinematographer Social Media / Pre Roll Freshwater Creative Award Winning Pepsi - Oilers 2018 Camera Operator / Local Producer Broadcast BBDO Under Armour - Storm the Centre Camera Operator Social Media / Pre Roll Unified Content Tim Hortons - Family Feel Good Producer / Director Social Media / Pre Roll Chase Media West Edmonton Mall Cinematographer Broadcast / Various GruvPixs Edmonton Airport Cinematographer Various Releases GruvPixs City of Edmonton - City
    [Show full text]
  • Methods for Producing Biochar and Advanced Biofuels in Washington State
    Methods for Producing Biochar and Advanced Biofuels in Washington State Part 1: Literature Review of Pyrolysis Reactors Ecology Publication Number 11‐07‐017 April 2011 If you need this document in a version for the visually impaired, call the Waste 2 Resources at (360) 407- 6900. Persons with hearing loss, call 711 for Washington Relay Service. Persons with a speech disability, call 877-833-6341. This review was conducted under Interagency Agreement C100172 with the Center for Sustaining Agriculture and Natural Resources, Washington State University. Acknowledgements: Funding for this study is provided by the Washington State Department of Ecology with the intention to address the growing demand for information on the design of advanced pyrolysis units. The authors wish to thank Mark Fuchs from the Waste to Resources Program (Washington State Department of Ecology), and David Sjoding from the WSU Energy program for their continuous support and encouragement.. This is the first of a series of reports exploring the use of biomass thermochemical conversion technologies to sequester carbon and to produce fuels and chemicals. This report is available on the Department of Ecology’s website at: www.ecy.wa.gov/beyondwaste/organics. Some figures and photos can be seen in color in the online file. Additional project reports supported by Organic Wastes to Fuel Technology sponsored by Ecology are also available on this web site. This report is also available at the Washington State University Extension Energy Program library of bioenergy information at www.pacificbiomass.org. Citation: Garcia-Perez M., T. Lewis, C. E. Kruger, 2010. Methods for Producing Biochar and Advanced Biofuels in Washington State.
    [Show full text]
  • Leon's Furniture Limited
    LEON’S FURNITURE LIMITED MANAGEMENT’S DISCUSSION AND ANALYSIS For the three and nine months ended September 30, 2013 and 2012 Dated: November 14, 2013 The Management’s Discussion and Analysis (“MD&A”) for Leon’s Furniture Limited/Meubles Leon Ltée (“Leon’s” or the “Company”) should be read in conjunction with i) the Company’s 2012 audited consolidated financial statements and the related notes and MD&A and ii) the Company’s unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2013 and the related notes. Cautionary Statement Regarding Forward-Looking Statements This MD&A is intended to provide readers with the information that management believes is required to gain an understanding of Leon’s Furniture Limited’s current results and to assess the Company’s future prospects. This MD&A, and in particular the section under heading “Outlook”, includes forward-looking statements, which are based on certain assumptions and reflect Leon’s Furniture Limited’s current plans and expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and future prospects to differ materially from current expectations. Some of the factors that can cause actual results to differ materially from current expectations are: a continuing slowdown in the Canadian economy; a further drop in consumer confidence; dependency on product from third party suppliers and changes to the Canadian bank lending rates. Given these economic risks and uncertainties and the integration risk associated with the acquisition of The Brick Limited, investors should not place undue reliance on forward- looking statements as a prediction of actual results.
    [Show full text]
  • Company Founded in 1909 by Ablan Leon in the City of Welland, Ontario the Original Store Was a Dry Goods Outlet but Abla
    Company founded in 1909 by Ablan Leon in the city of Welland, Ontario The original store was a dry goods outlet but Ablan subsequently converted to furniture sales after selling a mattress to a customer he purchased as a wedding gift for one of his sons. When Ablan Leon died in 1942. he left the company to his children who began expanding the business by building new stores in southwestern Ontario. The Company went public in 1969 followed by a major expansion into the Toronto market by opening the first true big box warehouse showroom in 1973. In 1975 he moved his store to Bill Comrie opened his first North Edmonton and opened furniture store in Edmonton, his first super store and Alberta in 1971. distribution center. The company was renamed The Brick Warehouse and eventually “The Brick” ALL BRICK LOCATIONS CANADA WIDE BRICK DC LOCATIONS CANADA WIDE LEON’S LOCATIONS CANADA WIDE LEON'S FURNITURE SALES ‐ 2012 STORE COUNT 2012 TOTAL LEON'S APPLIANCE SALES STORES STORES CANADA FRANCHISE ALBERTA 91,876 64 2 SASK 29,065 32 1 MANITOBA 16,896 21 1 ONTARIO 557,459 48 28 3 17 QUEBEC 96,675 98 1 MARITIMES 88,177 12 1 11 TOTAL SALES $ 880,148 80 44 3 33 BRICK DIVISION SALES ‐ 2012 STORE COUNT 2012 TOTAL BRICK SALES STORES STORES MATTRESS UFW FRANCHISE BC 216,044 37 26 2 8 ALBERTA 349,669 66 17 10 8 29 SASK 50,885 14 7 3 4 MANITOBA 66,032 10 3 2 4 ONTARIO 611,863 80 37 14 9 15 QUEBEC 220,284 17 14 2 MARITIMES 29,131 7 7 TOTAL SALES$ 1,543,909 231 104 24 24 69 COMBINED SALES ‐ 2012 2012 TOTAL CORPORATE SALES STORES STORES FRANCHISE BC 216,044 34 26 8 ALBERTA 441,545 72 41 31 SASK 79,950 17 12 5 MANITOBA 82,928 12 7 5 ONTARIO 1,169,322 128 96 32 QUEBEC 316,959 26 23 3 MARITIMES 117,308 19 1 18 TOTAL SALES $ 2,424,057 308 206 102 EXECUTIVE TEAM TODAY Leon’s has become one of Canada’s largest and most successful retailer of home furnishings, appliances and electronics for over 100 years.
    [Show full text]
  • WEM Card Participating Retailers
    WEM Card Participating Retailers Please see below for a list of participating retailers at West Edmonton Mall who accept the WEM Card. Please note, this list is subject to change at any time without notice. For more information about the WEM Card visit www.wem.ca/wemcard or contact West Edmonton Mall Guest Services at 780-444-5321. 1st Rnd Bootlegger Delicious Pho 7 for All Mankind BOSS Hugo Boss Dental FX 9D VR Experience Boston Pizza Deserres A Pipe Dream Bourbon St. Grill (Both Locations) Design Jewellers A&W (Both Locations) Boutique of Leathers | Open Road Divine Bridal Abercrombie & Fitch British Import Shop Dollarama Abe’s Barber Shop Browns Dr. Martens Aerie Build-A-Bear Workshop Dr. Mobile Alberta Academy of Aesthetics buybuy BABY Dragon FX ALDO Café Levi Drs. E Kim M Kim & D Larsen & Associates ALDO Accessories Call It Spring DSW Designer Shoe Warehouse Aligra Wine & Spirits Camo Jacks DYCE Allure Nails Canada Goose Earls American Eagle Outfitters Cardsharks Memorabilia Storire EB Games Angela’s Carlton Cards Eddie Bauer Anthropologie Carter’s | OshKosh (Both Locations) Editions Gallery Outlet Apple Store CaseLogix (Both Locations) Enchanted Nails Arc’teryx Cell Armour Essentials By Nature Ardene Chachi s Europa Watch and Jewellery Aritzia Champs Sports EvelineCharles Salon | Spa Aurora Chan International Model & Talent Famous Footwear Aurora Cannabis Chapel Hats Fatburger Aveda Charm Diamond Centres Flaman Fitness Bailey Nelson Chatters Salon Fleurs Flowers Barber Express China Court Foot Locker Basil Box Cinnzeo Fossil Bath
    [Show full text]
  • Management Information & Proxy Circular
    Notice of Annual Meeting and Special Meeting of Unitholders and Management Information Circular March 27, 2018 BOYD GROUP INCOME FUND NOTICE OF ANNUAL MEETING AND SPECIAL MEETING OF UNITHOLDERS TO BE HELD MAY 15, 2018 NOTICE IS HEREBY GIVEN that the Annual Meeting and Special Meeting of the Unitholders of Boyd Group Income Fund (the “Fund”) will be held at the Hilton Winnipeg Airport Suites Hotel, 1800 Wellington Avenue, Winnipeg, Manitoba on Tuesday, May 15, 2018 at 1:00 p.m. (local time) for the following purposes: 1. to receive the consolidated financial statements of the Fund for the year ended December 31, 2017 and the Auditor’s Report thereon; 2. to appoint Trustees for the ensuing year; 3. to elect nominees of the Fund to serve as Directors of The Boyd Group Inc. and Boyd Group Holdings Inc.; 4. to appoint auditors for the ensuing year and authorize the Board of Trustees to fix their remuneration; 5. to pass a special resolution, confirming an amendment to the Trust Declaration, adding Section 12.12, Advance Notice of Nominations; and 6. to transact such other business as may properly come before the Meeting, or any adjournment thereof. Unitholders who are unable to attend the meeting in person are requested to complete, date and sign the enclosed form of Proxy and return it, in the envelope provided, to the Secretary-Treasurer of the Fund, c/o Computershare Trust Company of Canada, 8th Floor, 100 University Avenue, Toronto, Ontario, M5J 2Y1, Attention: Proxy Department or via Phone: 1-866-732-8683, or by Internet voting at www.investorvote.com, at least 24 hours prior to the Meeting or any adjournment thereof, failing which the Proxy will be invalid.
    [Show full text]
  • Q1 2021 Investor Presentation
    AUTOCANADA INVESTOR PRESENTATION MAY 2021 Forward-Looking Statements Forward-Looking Statement Certain information contained in this presentation is forward-looking information within the meaning of applicable Canadian securities legislation. The use of any of the words “could”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on current belief or assumptions of AutoCanada Inc. ("AutoCanada“ or the "Company") as to the outcome and timing of such future events. In particular, forward-looking statements in this presentation include, but are not limited to, references to: the operations and performance of the Company; the Company’s milestones, key priorities and future intentions and results of the Go Forward Plan; the financial results and financial condition of the Company; the Company’s future sales revenue and profitability; the Company’s general strategic and growth strategies, including with respect to the Used Digital Retail Strategy; the market and expected developments in the retail automotive industry; and the potential continued impacts of the coronavirus (COVID-19) pandemic on the Company’s business operations. Although the Company believes that the expectations reflected by the forward-looking statements presented in this presentation are reasonable, these statements have been based on assumptions and factors concerning future events that may prove to be inaccurate. Actual future results may differ materially. The annual information form for the year ended December 31, 2020 and other documents filed with securities regulatory authorities (accessible through the SEDAR website www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference.
    [Show full text]
  • Critelli's Furniture
    Michael Knell’s HomeGoodsOnline.ca HGOSUMMER 2014 merchandiserVolume Three, Issue 3 LIFE AT THE TOP A look at Canada’s three biggest furniture retailers Part 1: Succession Planning Cooper on the simple math of improving profitability The mattress warranty revolution CRITELLI’S FURNITURE: Celebrating a Century CONTENTS EDITOR’S LETTER MATTRESSES 6CHANGE AT THE TOP 26THE WARRANTY Over the past decade, the REVOLUTION Canadian furniture, mattress and It’s no secret mattress warranties major appliance scene has come are unique in their generosity. to be dominated by just three Unfortunately, extra-long players, but the good news for the warranties sometimes lead to independent retailers is this: they confusion, misunderstandings are the ones with the momentum and unrealistic expectations on for growth. the part of the consumer. Fortunately, a shift towards PROFILE shorter and less complex 8AHEAD BY A CENTURY warranties is on the horizon. Few businesses, regardless of the industry they belong to, last 20 ON RETAIL years let alone 100! That said, after 32THE SIMPLE being helmed by four successive MATH OF IMPROVING generations of its namesake PROFITABILITY family, Critelli’s Furniture will Raising prices 5%, increasing reach that milestone this year and sales 5% or cutting expenses by it’s still going strong, growing 5% can have an enormous impact 26 bigger and rapidly evolving with on profitability. Our resident the ever-changing market. A business coach, Donald Cooper, profile by regular contributor explains. Ashley Newport. INDUSTRY BY THE NUMBERS 35CALENDAR & 14 LIFE AT THE TOP ADVERTISERS’ INDEX Canada’s furniture retailing community is dominated by three merchants who operated a total of 358 stores under 14 Michael Knell’s HomeGoodsOnline.ca different banners in 2013.
    [Show full text]