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

Bombardier gambles on big order payoff with new jet

TORONTO, June 13 (Reuters) – Canada’s Bombardier Inc
is hoping to carve a new niche in the cutthroat
airplane market with a fuel-efficient, medium-haul jet that
makes its first flight this month, but its all-new CSeries needs
an avalanche of orders to stave off bigger rivals.

Bombardier’s narrow-body CSeries, aimed at a gap in the
market, offers a lightweight carbon-composite frame like Boeing
Co’s 787 Dreamliner, and new, fuel-saving Pratt & Whitney
engines.

Jun 13, 2013

Sobeys buys Safeway Canada in $5.7 bln ‘game-changing’ deal

TORONTO, June 12 (Reuters) – Empire Co Ltd, the
operator of Canadian grocery chain Sobeys, said it is acquiring
Safeway Inc’s assets in Canada for $5.7 billion, in a
move that will nearly double its reach in the country’s western
provinces.

The C$5.8 billion deal, Canada’s biggest so far this year,
resulted in generous premiums for Safeway, which said it would
use the proceeds to pay down debt and buy back shares, and its
shares shot up 30 percent in after-hours trade.

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.”

    • 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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