Rona says it's preparing to sell non-core assets, doesn't provide details

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MONTREAL - Canada's largest home-improvement retailer says it's preparing to sell non-core assets and make other strategic moves to improve its profitability.

Rona Inc. (TSX:RON) didn't provide details about where the cuts will and said specific initiatives will be revealed in future announcements.

For now, Rona says its acting chief executive and board will immediately focus on "unlocking the profit potential of a simplified business model."

The troubled Montreal-company has been under pressure to improve its bottom line, especially since it rejected a lucrative takeover bid by U.S. rival Lowe's.

Organizations: Rona Inc., TSX, Lowe's

Geographic location: MONTREAL, Canada, U.S.

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