TORONTO (Reuters) – Lululemon Athletica Inc’s (LULU.O: Quote, Profile, Research) new chief executive pledged on Thursday to speed up the yogawear retailer’s global expansion while avoiding missteps like last year’s embarrassing recall of its trademark yoga pants, helping boost its once high-flying stock.
Investors, reassured by comments made during a conference call and more optimistic about Lululemon’s long-term prospects, pushed its shares up as much as 10 percent on Thursday. The stock ended 6.2 percent higher at $51.20 on the Nasdaq.
TORONTO, March 27 (Reuters) – Lululemon Athletica Inc
forecast lower-than-expected first-quarter results on
Thursday, the latest setback for the Canadian yogawear retailer
hit last year by a product recall.
The retailer also posted a quarterly profit that was almost
unchanged from a year earlier. Shares fell 3.5 percent to $46.50
in premarket trading.
TORONTO, March 26 (Reuters) – Bombardier will
delay the first test flight of its Learjet 85 business jet after
discovering a systems problem that requires a software update,
the Canadian company said on Wednesday in the latest setback for
its aircraft development program.
A company spokeswoman declined to provide a new timetable
for the Learjet’s maiden flight, and would not offer details on
the nature or seriousness of the problem.
TORONTO, March 21 (Reuters) – Canadian National Railway Co
said on Friday that it was prepared to meet one last
time with the union representing its conductors, yard workers,
and traffic coordinators, if the union agreed to a binding
arbitration should talks fail.
The Teamsters Canada Rail Conference (TCRC-CTY), which
represents about 3,000 CN Rail workers, had no immediate comment
on the offer, but said it would discuss the proposal with local
representatives and respond on Saturday.
TORONTO, March 21 (Reuters) – Leaders of the union
representing 3,000 conductors, yard workers, and traffic
coordinators at Canadian National Railway Co will meet
on Friday to decide whether to strike or take other action after
union members narrowly rejected a second tentative contract deal
with Canada’s biggest railway.
The Teamsters Canada Rail Conference said in a statement
that it still has a valid strike mandate and added that its
leaders will meet with counsel to decide on its next move.
TORONTO, March 20 (Reuters) – Railway staff of Canadian
National Railway Co (CN Rail) have narrowly voted
against a strike-busting labor agreement tentatively agreed upon
by the company and workers’ union.
Canada’s biggest railroad and the Teamsters Canada Rail
Conference – Conductors, Trainpersons and Yardpersons (TCRC-CTY)
regularly negotiate pay, hours and other provisions but a
three-year proposal in October drew threats of a strike earlier
TORONTO, March 20 (Reuters) – Bombardier Inc, one
of the world’s leaders in making both planes and trains,
provided an upbeat 2016 revenue forecast on Thursday despite its
struggles to get its costly new Cseries jetliner into service.
Bombardier Chief Executive Pierre Beaudoin told investors in
New York that it expects 2016 revenue to be between $23 billion
and $25 billion, and that it could top $30 billion in as few as
TORONTO, March 19 (Reuters) – A record-shattering Canadian
harvest, combined with one of the most frigid winters in
decades, has created a grain-handling backlog that will not be
cleared until next year, the head of Canadian National Railway
said on Wednesday.
“It will take more than the summer, continue into fall, into
next year,” Claude Mongeau, chief executive of the country’s
biggest railway, told Reuters.
TORONTO, March 18 (Reuters) – Canada wants a faster
phase-out of older, flawed tanker railcars than what has been
proposed in the United States, the country’s top-ranking
transport official said on Tuesday.
Transport Minister Lisa Raitt said a suggestion for a
10-year phase-out of the older DOT-111 tank cars, which many
hold responsible for a string of fiery train derailments, was
TORONTO, March 18 (Reuters) – TMX Group Ltd Chief
Executive Thomas Kloet is set to retire at the end of August
after six years as head of the company that operates the Toronto
Stock Exchange, a period that included its acquisition by a
consortium of some of Canada’s biggest banks and pension funds.
Kloet, a 30-year veteran of the exchange industry, will step
down Aug. 31, the company said late on Monday.