Transportation, Retail and Markets Correspondent, Canada
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Nov 13, 2013

Loblaw, Metro profits fall as competition intensifies

TORONTO (Reuters) – Two big Canadian grocers reported steep declines in quarterly profit on Wednesday in the face of escalating competition from the likes of Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz), a new entrant to the Canadian market.

Loblaw Cos Ltd (L.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest grocer, reported a 29 percent decline in profit for the September quarter and lowered its earnings outlook, while smaller rival Metro Inc (MRU.TO: Quote, Profile, Research, Stock Buzz) reported a larger-than-expected 40 percent drop in profit.

Nov 12, 2013

Canada’s Rona profit up as cost-cutting plan takes effect

TORONTO, Nov 12 (Reuters) – Struggling Canadian home
improvement retailer and distributor Rona Inc reported
a bigger quarterly profit on Tuesday as it cut costs, but
competition and cooling new home construction hurt sales.

The Boucherville, Quebec-based company, facing a raft of
challenges as it works through an aggressive restructuring plan,
said its results were helped by on-target cost savings, but
revenue declined on store closures and a sales slump at
established stores.

Nov 8, 2013

Lululemon says its yoga pants not meant for thick thighs

By Victoria Cavaliere and Solarina Ho

(Reuters) – When the founder of athletic apparel business Lululemon said his products were wrong for certain body shapes, some customers were quick to take offense, creating a potential public relations headache for the highly successful company.

“Quite frankly, some women’s bodies just actually don’t work for it (his clothing),” Chip Wilson said in an interview with Bloomberg TV this week. “They don’t work for some women’s bodies.”

Nov 8, 2013

Air Canada profit beats estimates, stocks jump

TORONTO (Reuters) – Air Canada’s (ACb.TO: Quote, Profile, Research, Stock Buzz) third-quarter results handily beat analysts’ estimates on Friday as a key measure of costs fell, helping to push its stock to levels not seen since the financial crisis.

Shares of Canada’s largest airline jumped more than 9.5 percent at one point after it reported a 59.4 percent surge in adjusted net income. Year-to-date, the stock has soared nearly 250 percent.

Nov 7, 2013

Tim Hortons’ profit up 8 percent, chain eyes more than coffee

TORONTO (Reuters) – Canadian coffee and doughnut chain Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz) (THI.N: Quote, Profile, Research, Stock Buzz), which is exploring ways to expand in an intensely competitive market, reported an 8 percent rise in quarterly profit as same-store sales improved slightly in the United States.

Shares of the company, which says it sells nearly eight of every 10 cups of coffee sold in Canada, edged higher following the results, which included a 3 percent rise in revenue.

Nov 6, 2013

Magna’s sales rise as Europe improves; 2013 outlook hiked

Nov 6 (Reuters) – Canadian auto parts manufacturer Magna
International Inc reported
stronger-than-expected results and hiked its 2013 outlook on
Wednesday, as strength in its European business boosted
quarterly sales by nearly 13 percent.

The news pushed Magna stock up more than 4 percent to a
record high of C$92.75 on the Toronto Stock Exchange, and to
$87.29 in New York, also a record.

Nov 1, 2013

Cost overruns pull SNC-Lavalin to quarterly loss

TORONTO, Nov 1 (Reuters) – Canada’s SNC-Lavalin Group Inc
, one of the world’s largest construction and
engineering companies, reported a quarterly loss on Friday as
cost overruns continued to hit results.

The Montreal-based company, which is trying to recover from
a far-reaching corruption scandal last year that toppled senior
executives, had warned of the loss in mid-October, when it
slashed its 2013 outlook for a second time.

Nov 1, 2013

shUPDATE 1-Cost overruns pull SNC-Lavalin to quarterly loss

TORONTO, Nov 1 (Reuters) – Canada’s SNC-Lavalin Group Inc
, one of the world’s largest construction and
engineering companies, reported a quarterly loss on Friday as
cost overruns continued to hit results.

The Montreal-based company, which is trying to recover from
a far-reaching corruption scandal last year that toppled senior
executives, had warned of the loss in mid-October, when it
slashed its 2013 outlook for a second time.

Oct 31, 2013

Bombardier profit dips as plane deliveries, orders fall

TORONTO, Oct 31 (Reuters) – Canadian plane and train maker
Bombardier Inc reported a 15 percent fall in net
profit on Thursday, pressured by fewer aircraft orders and
deliveries in the third quarter and contract issues in its train
unit.

The results came in below expectations and sent shares
falling 8 percent on the Toronto Stock Exchange.

Oct 30, 2013

Target still confident about Canada, despite soft initial sales

TORONTO, Oct 29 (Reuters) – U.S. discount retail chain
Target Corp said on Wednesday it expects to recover from
initial stumbles in its ambitious push into Canada and still hit
long-term growth targets.

Canada is still key to Target’s growth over the next five
years, executives said. While the company’s near-term outlook
remained cautious, Chief Financial Officer John Mulligan said
the retailer was expecting three to four percent total annual
sales growth through 2017.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for Reuters.com, and an online news editor for Reuters.com, .co.uk and .ca. Life before Reuters included working in China and freelancing in California."
      Joined Reuters:
      2003
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