09:48 AM EST - RONA Inc. : President and Chief Executive Officer Robert Sawyer announced new restructuring and reorganization measures to ramp up the recovery and improve profitability. These new measures are expected to generate annualized cost-savings of $70 million, in addition to the $40 million announced when the Corporation released its year-end results in February 2013. The measures include: Closure, by the end of 2013, of 11 non-profitable stores: eight in Ontario and three in British Columbia. Reduction in administrative, marketing, merchandising and distribution expenses. RONA Inc.
shares T.RON are trading up $0.10 at $9.81.
