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This is mainly attributed to opening of new stores in Quebec and Newmarket, and a franchise store in Bancroft, thus bringing the total number of corporate stores to 35 and Franchise stores to 28 (Exhibit_Sales,Table-1). Sales by franchise store during the year end December 31, 2007 amounted to 195,925,000 [2006-177,167,000] which contributes only 10 % in the cash flows, in term of royalties.
Strategic decision of acquisition of Appliance Canada Limited will provide a significant entry into the, wholesale distribution market of major home appliances to builders and apartment landlords. Secondly the company will also maintain retail selling of higher-end appliances to the public...
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