John's Feed
Apr 28, 2011

Jean Coutu posts higher profit, raises dividend

TORONTO, April 28 (Reuters) – Jean Coutu Group Inc
(PJCa.TO: Quote, Profile, Research, Stock Buzz) reported a higher quarterly profit on Thursday,
beating analysts’ estimates, as the Canadian pharmacy chain
posted modest gains in both prescription and front-of-store
sales.

The company also set a quarterly dividend of 6 Canadian
cents a share, up 9.1 percent from the previous quarter, and
said it was looking for acquisitions.

Apr 27, 2011

Shoppers Drug profit lifted by non-pharma sales

TORONTO, April 27 (Reuters) – Shoppers Drug Mart Corp
(SC.TO: Quote, Profile, Research, Stock Buzz), Canada’s biggest drugstore chain, posted a higher
quarterly profit on Wednesday, helped by robust sales of
non-pharmacy items.

The strength in front-store sales, a term pharmacy chains
use to refer to food, drink and beauty items, overshadowed a
prolonged slump in Shoppers’ prescription drug sales, which
have been hit by government regulatory moves.

Apr 21, 2011

Canada’s Rona scouts U.S. acquisitions

TORONTO (Reuters) – Canadian home improvement chain Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz) could spend as much as C$300 million ($316 million) on U.S. acquisitions this year, taking advantage of a strong Canadian dollar and U.S. economic weakness.

Rona Chief Executive Robert Dutton told Reuters in an interview this week his company is focusing on acquiring U.S. distributors or commercial and professional-orientated units, rather than customer-facing retail stores.

Apr 19, 2011

Canada retailers can withstand U.S. invasion -Rona

TORONTO, April 19 (Reuters) – Canadian retailers can hold
their own against an aggressive U.S. retail drive north of the
border, the top executive of leading home improvement chain
Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz) told business leaders in Toronto on Tuesday.

“Despite the Costcos (COST.O: Quote, Profile, Research, Stock Buzz), the IKEAs, the Zaras and the
Staples (SPLS.O: Quote, Profile, Research, Stock Buzz), retail has remained largely a national, even
regional affair,” Rona Chief Executive Robert Dutton said in
prepared statements for a speech to the Economic Club of
Canada.

Apr 8, 2011

Starbucks Canada sees Quebec as final frontier

TORONTO (Reuters) – An eastern expansion drive is brewing at Starbucks Canada.

Colin Moore, Starbucks’ Americas president, said the world’s largest coffee chain is targeting the French-speaking province of Quebec and the Atlantic provinces to the east of it, which together he sees as a huge untapped market.

Apr 7, 2011

Dollarama lures bargain-happy Canadians

TORONTO, April 7 (Reuters) – Dollarama Inc (DOL.TO: Quote, Profile, Research, Stock Buzz),
Canada’s largest operator of dollar stores, said on Thursday it
plans to open 50 new stores within a year as the popularity of
its discount format soars.

Dollarama, which went public in 2009, is growing quickly as
bargain-hunting Canadians who flocked to its stores during the
economic downturn, stayed on after the economy recovered.

Apr 6, 2011

Target eyes C$6 billion in annual Canadian sales

TORONTO (Reuters) – Retail giant Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) expects to generate at least C$6 billion ($6.25 billion) in annual sales in Canada in as little as six years as it makes its first foray into a foreign market.

Chief financial officer Douglas Scovanner also said on Wednesday the No. 2 U.S. discount chain, which announced its entry into the Canadian market in January, now plans to open about 200 Canadian stores, expanding on earlier estimates.

Apr 6, 2011

Cephalon rejects Valeant’s $5.7 bln bid

NEW YORK/TORONTO, April 5 (Reuters) – Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz)
on Tuesday rejected an unsolicited, $5.7 billion acquisition
bid by Canada’s Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz)(VRX.N: Quote, Profile, Research, Stock Buzz), and
Valeant sought to replace the U.S. biopharmaceutical company’s
board of directors.

Cephalon said Valeant’s $73-a-share bid, which Valeant
expects to finance entirely with debt, undervalued the company,
as well as “its key assets and its prospects.”

Apr 5, 2011

Valeant seeks to replace Cephalon board; bid rejected

NEW YORK/TORONTO, April 5 (Reuters) – Cephalon Inc (CEPH.O: Quote, Profile, Research, Stock Buzz)
on Tuesday rejected an unsolicited, $5.7 billion acquisition
bid by Canada’s Valeant Pharmaceuticals (VRX.TO: Quote, Profile, Research, Stock Buzz)(VRX.N: Quote, Profile, Research, Stock Buzz), and
Valeant sought to replace the U.S. biopharmaceutical company’s
board of directors.

Cephalon said Valeant’s $73-a-share bid, which Valeant
expects to finance entirely with debt, undervalued the company,
as well as “its key assets and its prospects.”

Apr 5, 2011

Reuters Summit – Bankers see rebound in leveraged deals

TORONTO, April 5 (Reuters) – Expect more debt-backed takeover bids like Valeant Pharmaceuticals’ offer for Cephalon Inc now that credit markets are largely recovered from the financial crisis, top bankers said on Tuesday.

Large leveraged deals, which were wildly popular just before the crisis, will gather steam both globally and in Canada given interest rates still at or near historic lows and increased investors confidence, bankers told the Toronto leg of the Reuters Global Mergers and Acquisitions Summit.