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| Company Overview |
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BUSINESS OVERVIEW
The Brick Group Income Fund is an unincorporated, open-ended, limited purpose trust established under the laws of the Province of Alberta. The Brick Group Income Fund was created to invest in the retail furniture, mattress, appliance, and electronics industry initially through the indirect acquisition of the limited partnership units of The Brick Warehouse LP (together with its general partner, the “Brick LP”). The Brick LP owns among other things, 100% of the outstanding limited partnership units of United Furniture Warehouse LP (“United Furniture”) and all of the outstanding shares of First Oceans Trading Corporation. United Furniture owns Trans Global Warranty Corp. and its subsidiaries Trans Global Insurance Company and Trans Global Life Insurance Company. The Brick Group Income Fund and all of its subsidiaries and partnerships will collectively be referred to as the “Brick Group” in this MD&A.
CORE STRATEGY:
To drive long-term profitable growth through our furniture, mattress, electronics, and appliance business throughout Canada
COMPETITIVE POINTS OF LEVERAGE:
Leadership in our price value position
Superior buying power
Retail store/Internet sales base
Distribution centre infrastructure
Commercial and franchise sales group
Financial services
Cost-effective supply chain
KEYS TO SUCCESS:
Continue to build loyalty/advocacy with existing/potential customers
Optimize strong relationships with current/future suppliers
Foster an environment that respects valued employees and recognizes excellence
BOTTOM LINE:
To be Canada’s Brand of choice in furniture/mattresses/electronics/appliances
RETAIL OPERATIONS
The Brick Group is one of Canada's largest volume retailers of household furniture, mattresses, appliances and home electronics. The Brick Group’s strategy is centered on strengthening its competitive position and increasing its market share through organic growth within its retail banners, The Brick, United Furniture, The Brick Superstore, and The Brick Mattress Store.
The Brick Group, through its first three banners listed above, targets the following three principal markets: the middle-income consumer, the lower-income consumer, and the middle to upper middle- income consumer, respectively.
The Brick Mattress Store banner, which was designed to compete with independent national bedding chains, features mid to high end product lines including national brands and exclusive specialty products.In addition, through its corporate sales division, the Brick Group services the subdivision, condominium and high-rise builder market. As at September 30, 2007, The Brick Group operated 206 retail stores (including its 31 franchise locations) in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia and the Yukon Territory.
FINANCIAL SERVICES
The Brick Group operates a financial services segment that offers extended product warranties, credit insurance on balances that arise from retail purchase financing made available to retail customers through third party credit providers, and credit and property insurance policies to third parties. Financial services are a stable and significant contributor to EBITDA (see “Non-GAAP Financial Measures”), and a solid and growing source of cash flow. This segment should continue to grow as the underlying retail operations expand across Canada and third party clients are developed.
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| Home Furnishing Stores | | Last: | 2.350 | | Change: | -0.010 | | Volume: | 30,351 | | Day High: | 2.360 | | Day Low: | 2.350 |
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©2010 Stockhouse Inc. Corporate and Financial data provided by Morningstar. Data and information is provided for informational purposes only, and is not intended for trading purposes. Stockhouse shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Data is delayed 20 minutes for NYSE & AMEX and delayed 15 minutes for all other exchanges.
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