Transportation, Retail and Markets Correspondent, Canada
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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.

Jan 15, 2015

In surprise move, Target exits Canada and takes $5.4 bln loss

TORONTO (Reuters) – Target Corp will exit the Canadian market after less than two years in a surprise retreat that will throw more than 17,000 employees out of work and trigger a $5.4 billion quarterly loss.

Shares of the U.S. discount retailer, which was granted creditor protection for its money-losing Canadian subsidiary, at one point rose more than 4 percent on the move. The stock was up 2.2 percent at $75.94 in afternoon trade on the New York Stock Exchange.

Jan 15, 2015

In surprise move, Target to pull out of Canada

TORONTO, Jan 15 (Reuters) – Target Corp will abandon
its ill-fated expansion into Canada less than two years after
its launch, the U.S. discount retailer said on Thursday in a
surprise full retreat that will put more than 17,000 employees
out of work and cost the company billions in writedowns.

Target’s shares rose 3 percent in midmorning trading after
the company said it will seek court protection from creditors in
Canada for the money-losing subsidiary and shut all its 133
stores in the country.

Jan 12, 2015

Lululemon forecast signals turnaround moves bearing fruit

Jan 12 (Reuters) – Lululemon Athletica Inc issued a
robust forecast for the current quarter on Monday that topped
market expectations and lifted its shares as strong holiday
sales signaled the Canadian yogawear maker’s comeback efforts
may be paying off.

Shares jumped nearly 9 percent on the outlook, which
forecast an increase in comparable store sales of 6 to 7
percent, roughly double analysts’ expectations.

Jan 9, 2015

C$ slides to 5-1/2 lows on U.S., Canada jobs data

TORONTO, Jan 9 (Reuters) – The Canadian dollar stumbled to
its weakest finish in more than 5-1/2 years on Friday after
North American jobs data signaled an interest rate hike in the
United States and the status quo in Canada.

Canada shed 4,300 jobs in December after losing 10,700 in
November. Market forecasters had estimated an increase of 15,000
jobs. The overall unemployment rate held at 6.6 percent.

Jan 9, 2015

U.S., Canada jobs data drag C$ to 5-1/2 lows

TORONTO, Jan 9 (Reuters) – The Canadian dollar stumbled to
its weakest level in more than 5-1/2 years following North
American jobs data that showed a weaker-than-expected labor
market in Canada and sturdy gains in the United States, further
evidence that the Federal Reserve is likely to raise interest
rates this year.

Canada shed 4,300 positions in December after losing 10,700
jobs in November. Market forecasters had estimated an increase
of 15,000 jobs. The overall unemployment rate held at 6.6

Jan 7, 2015

Canadian dollar seen pressured by cheap oil, expected Fed hike: Reuters poll

TORONTO (Reuters) – The Canadian dollar is expected to trade near a five-year low against its U.S. counterpart for much of this year, under pressure from a crash in crude oil prices and an impending U.S. interest rate hike, according to a Reuters poll.

Currency strategists polled by Reuters have slashed their forecasts from a month ago after a rocky start to 2015, with heavy selling that has already knocked down the loonie nearly 2 percent to its weakest since early 2009.

Dec 19, 2014

Sears Canada speeding up investments in turnaround effort: CEO

TORONTO (Reuters) – Sears Canada Inc (SCC.TO: Quote, Profile, Research, Stock Buzz) is stepping up spending on areas such as its website and profitable merchandise categories while looking to exit unprofitable product lines as part of its turnaround plan, the retailer’s new acting chief executive said on Friday.

“We’re going to make some of those tough decision about businesses in short order,” Ron Boire told Reuters in an interview, adding that the company was in a very strong liquidity position, with no short- or long-term debt.

Dec 11, 2014

Lululemon profit beats on lower costs, but revenue outlook cut

Dec 11 (Reuters) – Yogawear chain Lululemon Athletica Inc
reported a stronger-than-expected quarterly profit on
Thursday, driven in part by lower costs, but U.S. port
disruptions and delayed store openings took a toll on its
revenue outlook.

Shares of the Canadian retailer jumped 10 percent to $51.32
after it reported the results, with investors taking note of an
increase in comparable store sales.

    • 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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