Transportation, Retail and Markets Correspondent, Canada
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Mar 5, 2015

Kit and Ace steps up international growth with Lululemon founder backing

TORONTO (Reuters) – Kit and Ace, a Canadian apparel start-up backed by the billionaire founder of Lululemon, will open stores in London, Australia and Japan this year, ahead of schedule, prompted partly by choice real estate, one of its senior executives said.

The ramp-up in Kit and Ace’s growth plans comes as Lululemon Athletica Inc (LULU.O: Quote, Profile, Research) founder Chip Wilson, who announced last month he was quitting the yoga wear retailer’s board, shifts his attention to the casual wear company started by his wife and son.

Mar 5, 2015

TSX higher as banks and resource stocks lead; earnings lift

TORONTO, March 5 (Reuters) – Canada’s main stock exchange
rose broadly on Thursday, led by healthy gains among bank shares
and forecast-beating results from Canadian Natural Resources Ltd
, the country’s No. 2 oil and gas producer.

The TSX moved in tandem with global stocks, which were
supported by the European Central Bank’s latest effort to boost
the struggling eurozone economy.

Mar 4, 2015

Snowden says U.S. not offering fair trial if he returns

TORONTO (Reuters) – Edward Snowden, the fugitive former U.S. spy agency contractor who leaked details of mass U.S. surveillance programs, said on Wednesday he is not being offered a fair trial if he returns to the United States.

“I would love to go back and face a fair trial, but unfortunately … there is no fair trial available, on offer right now,” he said from Russia in a live question and answer discussion organized by Canadian Journalists for Free Expression, Toronto’s Ryerson University and the Canadian Broadcasting Corp.

Mar 3, 2015

TSX tracks weaker U.S. stocks, banks lead declines

TORONTO, March 3 (Reuters) – Canada’s main stock exchange
retreated on Tuesday in a broad decline led by the Bank of Nova
Scotia, which reported a lower-than-expected quarterly
profit, and a sell-off in shares of Valeant Pharmaceuticals
International Inc.

The index was also tracking moves in the United States,
where markets were taking a pause following the latest records
set by the Dow and the S&P, and Nasdaq
closing above 5,000 for the first time since March 2000.

Feb 25, 2015

Canada’s HBC to form real estate joint ventures, stock soars

TORONTO (Reuters) – Canadian retailer Hudson’s Bay Co (HBC.TO: Quote, Profile, Research, Stock Buzz) said on Wednesday it has agreed to form two real estate joint ventures that would cut its debt by about C$1.1 billion ($885.60 million) and pave the way for an initial public offering or alternate transaction.

The separate deals with two real estate investment trusts, or REITs, U.S.-based Simon Property Group Inc (SPG.N: Quote, Profile, Research, Stock Buzz) and Canada’s RioCan Real Estate Investment Trust (REI_u.TO: Quote, Profile, Research, Stock Buzz), sent HBC’s shares soaring more than 22 percent to C$27.15 on the Toronto Stock Exchange.

Feb 17, 2015

Harvey’s, Swiss Chalet owner eyes IPO, sees major growth ahead

TORONTO, Feb 17 (Reuters) – Privately-held Cara Operations
Ltd, the company behind Canadian restaurant staples Swiss Chalet
and burger chain Harvey’s, is looking to go public again as it
aims to capitalize on the recent string of blockbuster
restaurant IPOs.

Canada’s third-largest restaurant operator said there are
significant opportunities for growth over the next five to seven
years in its preliminary prospectus filed late last week, ahead
of the long weekend.

Feb 17, 2015

Burger King, Tim Hortons owner posts loss on deal costs

TORONTO, Feb 17 (Reuters) – Restaurant Brands International
Inc, formed out of Burger King’s takeover of Canadian
coffee and doughnut chain Tim Hortons last year, saw higher
quarterly sales growth at both brands, but posted a net loss due
to one-time costs related to the merger.

U.S. chain Burger King bought Tim Hortons for C$12.64
billion ($10.21 billion) in August, creating the world’s
third-largest fast-food restaurant group. The two restaurant
chains are being managed as distinct and separate brands under
the parent company.

Feb 2, 2015

Lululemon founder to leave board, keep stake in yogawear chain

Feb 2 (Reuters) – Lululemon Athletica Inc founder
Chip Wilson said on Monday he is quitting the board of directors
of the yogawear retailer, hit nearly two years ago by a major
recall, because the company was back on track with a strong
management team.

Wilson, a sometimes controversial figure who helped build
the Canadian company into an international success story, said
the move will also allow him to focus on Kit and Ace, a casual
wear company that his wife and son launched last year.

Jan 19, 2015

TSX steady as energy shares drop, other sectors gain

TORONTO, Jan 19 (Reuters) – Canada’s main stock index was
little changed on Monday as a decline in oil and gas stocks,
fueled by lower crude prices, offset gains in other sectors.

The plunge in oil prices over the past six months, triggered
by worries about excess supply, has been the biggest drag on
both energy shares and Canada’s benchmark equities index. The
TSX is down about 2.5 percent this year.

Jan 16, 2015

Thin crowds during CEO’s visit helped seal Target Canada’s demise

NEW YORK/TORONTO (Reuters) – Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) was scrambling for ways to fix its failing Canadian expansion and considering closing just the weakest locations, but a pre-holiday visit to several stores by CEO Brian Cornell helped seal the decision for a full retreat.

Cornell spent the weekend before Christmas making solo visits to stores in Ontario and Quebec, Canada’s most populous provinces, according to a Target source familiar with the U.S. discount retailer’s decision to pull out of Canada.

    • 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, and an online news editor for, and .ca. Life before Reuters included working in China and freelancing in California."
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