COMPANIES IN THE NEWS

TORONTO — Sears Canada reported that net earnings for the period ended March 31 were $17.2 million, compared to a loss of $11.8 million in the same quarter last year. Same-store sales increased 1.6%. Total revenues for the period were $1.219 billion compared to $1.222 billion for the 13 weeks ended April 1, 2006, a decrease of 0.2%. Higher merchandise sales and credit revenues, which increased 0.8% and 2.8%, respectively, were offset by a decline in service and other revenues. TORONTO — Bed Bath & Beyond, the largest chain of its type in the U.S., is looking for locations in Vancouver, Toronto, Ottawa and Calgary, according to The Globe and Mail. Kenneth Frankel, director of investor relations for Bed Bath & Beyond in Union, N.J., did not confirm the company's intentions in Canada, but did say it is open to expansion opportunities, both domestically and abroad. According to the report, the retailer is looking for stores between 20,000 and 50,000 square feet. LONDON, Ont.  — The Swedish furniture company giant JYSK (pronounced Yisk) will open its first store here on May 12, according to the London Free Press. The 30,000-square-foot store will feature bed, bath and housewares as well as Scandinavian-style home furnishings. JYSK now has 1,200 stores worldwide including 31 in Canada. The chain entered the Canadian market in British Columbia 10 years ago and has been gradually moving east, opening it first Ontario store last year. PRINCE GEORGE, B.C. —  Premier Gordon Campbell has announced $11.5 million for forestry marketing, product development and research. Through the Forestry Innovation Investment program, approximately $1.59 million will go to researching the use of blue-stained, mountain beetle-killed wood for flooring, pulp and paper, oriented strand board, various treated wood, composite and laminate applications and to producing ethanol, charcoal and other biofuels. The rest will be used to promote B.C. wood products — especially western red cedar, coastal hemlock and fir - to international buyers. VANCOUVER — West Fraser Timber Co. Ltd. reported a first-quarter loss of $5 million on sales of $759 million, compared to earnings of $6 million on sales of $902 million in the first quarter of last year, and earnings of $296 million on sales of $727 million in the fourth quarter of 2006. The numbers were affected by continuing low lumber prices, mainly the result of weak housing starts in the U.S. and excess supply. The company was also adversely affected by a CN Rail strike, which began on February 10. BOWMANVILLE, Ont. —  The regional council here has reached an agreement with Halloway Holdings that gives the green light to a new Home Depot store on a site near Green Road and Hwy. 2. The decision is the culmination of several years of negotiation between the giant retailer and local council. MISSISSAUGA, Ont. — Three new members have joined the board of directors of CHHMA. They are Mary Houston of Anchor Hocking Canada, Craig Emmerson of Applica Canada Corp. and Peter Thomson of Taymor Industries. NEW YORK — Bob Vila, the do-it-yourself maven whose popularity ran parallel with that of the burgeoning home-improvement movement in America, is now off the airwaves for the first time in 28 years. CBS Television Distribution has cancelled his syndicated television program, Bob Vila, because of poor ratings. Vila, 60, had been a fixture on television since 1979, when PBS first started airing This Old House, the home-renovation program that, at its peak, drew 12 million viewers and was the most-watched program on public television. LONDON, U.K. — Home improvement giant B&Q has joined with seven U.K. businesses to help reduce carbon dioxide emissions in that country. Members of the group, which includes Barclaycard, British Gas, Marks & Spencer, O2, Royal Sun Alliance, Sky and Tesco, will encourage households to reduce their emissions by one tonne over the course of a campaign dubbed We're In This Together. TOWSON, Md. —  Despite weak demand in the residential home construction segment, Black & Decker announced higher-than-expected quarterly figures last week. While net earnings for the first quarter of 2007 were $108.1 million, versus $113.1 million for the first quarter of 2006, sales increased 3% for the quarter to a record $1.6 billion. Sales in the power tools and accessories segment increased 2% for the quarter. The company was helped by a favourable order trend, combined with two months of incremental sales of Vector Products, which the company acquired in March of 2006.

PEOPLE IN THE NEWS

John Hendry has been named vice-president of real estate for TimberWest Forest in Vancouver. Hendry, who was previously with a central Florida timberland and real estate company, has been brought on to sell off some of the forest company's prime Vancouver Island holdings. TimberWest is the province's largest landowner, with 334,000 hectares, mostly on Vancouver Island. TimberWest intends to sell the 38,000 hectares over the next 10 to 15 years. Matt Roher has been named channel marketing manager, superstores for Sanford Brands — a Newell Rubbermaid Company.

MARKET INDICATORS

Monthly lumber production by sawmills decreased 2.5% to 6,298.6 thousand cubic metres in February. Sawmills shipped 5,495.6 thousand cubic metres of lumber in February, a drop of 9.2% from January. Compared with the same month in 2006, lumber shipments declined 15.7%.(StatsCan)