Transportation, Retail and Markets Correspondent, Canada
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Jun 12, 2013

Sobeys’ parent Empire Co to buy Safeway Canada for C$5.8 bln

TORONTO, June 12 (Reuters) – Empire Company Ltd,
operator of the Sobeys grocery chain, said on Wednesday it is
buying the Canadian arm of Safeway Inc for C$5.8 billion
($5.70 billion), a deal that will nearly double its reach in
Western Canada.

Empire said the deal, one of the biggest in the Canadian
retail sector this year, will give it control of 213
full-service grocery stores under the Safeway banner in Western
Canada. It also includes nearly 200 in-store pharmacies, along
with some liquor stores, fuel stations and distribution centers.

Jun 11, 2013

Lululemon CEO search sparks concern, market jitters

TORONTO (Reuters) – Shares of Lululemon Athletica Inc (LLL.TO: Quote, Profile, Research, Stock Buzz) (LULU.O: Quote, Profile, Research, Stock Buzz) plunged on Tuesday on worries that it will not be easy for the high-end yogawear maker and retailer to replace outgoing Chief Executive Christine Day, the company’s very public face.

Day, who announced her surprise departure plans after markets closed on Monday, was behind Lulu’s rapid-fire growth rate and its transition from niche to broad-based appeal. But costly quality control problems also occurred during her tenure.

Jun 10, 2013

Lululemon CEO to step down, stock slumps

TORONTO, June 10 (Reuters) – Lululemon Athletica Inc
, its fortunes dented by an embarrassing and
costly recall of excessively see-through pants, said on Monday
that Chief Executive Christine Day will step down once it finds
a replacement.

Lululemon shares slumped as much as 15 percent after the
news of Day’s surprise departure, which came just three months
after the company’s second major quality issue in less than a
year. Lululemon’s chief product officer left in April.

Jun 6, 2013

Interview: Bombardier promises CSeries jet is on track

TORONTO (Reuters) – Canada’s Bombardier Inc. (BBDb.TO: Quote, Profile, Research, Stock Buzz) expects no more delays to its C$3.4 billion ($3.30 billion) CSeries jetliner program, the plane maker’s challenge to industry leaders Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) and Boeing Co. (BA.N: Quote, Profile, Research, Stock Buzz), a senior executive said on Thursday.

“This is a done deal program,” Mike Arcamone, president of the Montreal plane maker’s commercial aircraft division, told Reuters in an interview.

Jun 5, 2013

C$ seen steady over next year as U.S. economy dictates direction: Reuters poll

TORONTO (Reuters) – The Canadian dollar is forecast to hold near current levels against the greenback in the year ahead, a Reuters poll showed on Wednesday, with the outlook for the U.S. economy and the risk its central bank will curb stimulus seen driving global currency moves.

The median forecast in the poll of 49 economists and foreign exchange strategists saw the Canadian dollar trading at C$1.03 to the U.S. dollar in one, six and 12 months from now. It is expected to trade stronger at C$1.02 in three months.

Jun 4, 2013

Bombardier at 177 firm CSeries orders as Ilyushin approved

TORONTO, June 4 (Reuters) – Bombardier Inc’s much
anticipated CSeries plane has reached 177 firm orders after the
Canadian manufacturer said on Tuesday that a previously
announced deal with Ilyushin Finance Co. won backing from the
Russian company’s investors.

IFC’s order for 32 CS300 aircraft with an option for an
additional 10 was approved by IFC’s shareholders, Bombardier
said on Tuesday. The Russian aircraft leasing company’s
conditional order was first announced in February.

Jun 3, 2013

Detroit carmakers lead Canadian sales, Toyota not far behind

TORONTO, June 3 (Reuters) – Canadian auto sales rose 5.3
percent in May, marking a slowdown from April, but far outpacing
the lackluster 2.4 percent year-to-date growth, according to
DesRosiers Automotive Consultants Inc.

Across Canada, 185,040 vehicles were sold last month, just
shy of the record set in May 2007 when 185,471 cars and trucks
were sold, according to the independent auto analyst who
compiles auto sales data.

Jun 3, 2013

Lululemon pants back on shelves after see-through blunder fixed

TORONTO (Reuters) – Lululemon Athletica Inc (LLL.TO: Quote, Profile, Research, Stock Buzz)’s black “Luon” pants are back on store shelves, the Canadian retailer said on Monday, following a highly-publicized recall in March after the fabric was deemed too transparent.

The company warned in March that it could lose up to $40 million in profit this fiscal year after it pulled its snug-fitting black workout pants made with its signature Luon fabric from stores due to an “unacceptable level of sheerness.”

Jun 3, 2013

Canada manufacturing PMI strongest level in nearly a year

TORONTO, June 3 (Reuters) – Canada’s manufacturing growth
expanded at its fastest pace in nearly a year in May, according
to data released on Monday, underpinned by new orders which
pushed output back into growth mode for the first time in three

The RBC Canadian Manufacturing Purchasing Managers’ Index
was up sharply at 53.2 in May after adjusting for seasonal
variation, rising from 50.1 in April.

May 10, 2013

Magna profit up on strong North America sales, raises outlook

TORONTO (Reuters) – Auto parts maker Magna International Inc (MG.TO: Quote, Profile, Research, Stock Buzz) (MGA.N: Quote, Profile, Research, Stock Buzz) posted a higher-than-expected rise in first-quarter profit on Friday as its revenues climbed 9 percent, boosted by strong sales in North America.

Shares of the Canadian company rose in pre-market trading as it also raised its 2013 outlook.

    • 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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