TORONTO (Reuters) – Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) is repairing the supply chain problems it holds largely responsible for last year’s botched Canadian expansion and expects to show measurable progress on a turnaround by this fall, its top executive in Canada said on Tuesday.
In its first international expansion, Minneapolis-based Target opened an unprecedented 124 stores and three distribution centers in Canada last year, losing nearly $1 billion as sales fell far short of expectations.
TORONTO, Aug 8 (Reuters) – SNC-Lavalin Group Inc,
Canada’s largest engineering and construction firm, on Friday
reported a return to profit in the second quarter that fell
sharply below analysts’ expectations as problematic, old
projects started by previous management continued to hurt the
The Montreal-based company has been trying to move past a
far-reaching scandal involving allegations of fraud and bribery,
and to deal with a remaining backlog of more than C$600 million
in challenging projects.
Aug 7 (Reuters) – Air Canada notched a higher
operating profit on Thursday but its push into new overseas
routes, with longer flights and lower margins, took a toll and
sent its stock down nearly 7 percent.
Canada’s largest carrier said yields, or passenger revenue
per available seat mile, a key measure of revenue, fell in the
quarter. Besides adding new routes, the carrier also boosted the
number of flights and added more seats to major European
TORONTO, July 30 (Reuters) – Bombardier Inc’s
unexpected aerospace restructuring announcement last week casts
an uncomfortable light on the division’s ongoing struggles, with
credit rating firms uncertain about its longer term prospects.
The restructuring, which was announced July 23, eight days
before the release of second-quarter results on Thursday, is the
latest bad news for the beleaguered unit, bruised in recent
years by multiple delays in its cash-draining CSeries program
and by shrinking market share for its existing aircraft
TORONTO/OTTAWA July 23 (Reuters) – Canada quietly issued new
details on rail safety regulation last week that included
specifications for the next generation of tank cars that are
tougher than some of the options proposed by the U.S. Department
of Transportation on Wednesday.
The safety proposals by Transport Canada for hauling
dangerous goods, released online on Friday, builds on measures
first announced in April that will require older DOT-111 rail
cars used for carrying crude oil be phased out by May 2017.
TORONTO, July 17 (Reuters) – Canadian Pacific Railway Ltd
reported stronger-than-expected results on Thursday, and
said rising freight volumes and prices should push already
record results to new highs later this year.
The shares of the Calgary-based railway, which have risen
some 20 percent since its last quarterly report, surged as much
as 4.7 percent on the news.
TORONTO, July 2 (Reuters) – Automakers sold a record number
of cars and trucks in Canada in June with Ford Motor Co
selling the most in the month and Fiat Chrysler leading
in sales over the first half of the year, industry data showed
Automakers sold 908,094 vehicles in Canada in the first six
months, a 2.8 percent increase over a year earlier and “the
earliest date on record for sales to hit the 900K mark,” Dennis
DesRosiers of DesRosiers Automotive Consultants said in a
(Reuters) – The failure of a Pratt & Whitney jet engine during testing on a new Bombardier Inc plane last week is unlikely to have a significant impact on Bombardier’s testing schedule, an executive at Pratt parent United Technologies Corp said on Thursday.
“We’re working now with Bombardier on a plan to resume testing here in the next few weeks,” United Tech Chief Financial Officer Greg Hayes told an investor conference.
TORONTO (Reuters) – Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz), Canada’s biggest coffee and doughnut chain, posted first-quarter results that fell short of analysts’ expectations, with fewer customers visiting established stores and the company spending more on growth.
Oakville, Ontario-based Tim Hortons, which serves an estimated 7.5 out of every 10 cups of coffee sold in Canada, reported higher expenses related to new store openings and the launch of its credit card, aimed at cultivating customer loyalty.
TORONTO, April 24 (Reuters) – Department store chain Sears
Canada is not actively pursuing any asset sales but
would consider opportunities that would “substantially” add
value, the company’s chief executive said on Thursday.
Sears Canada, 51 percent controlled by hedge fund
billionaire Edward Lampert and his Sears Holdings Corp,
has been shedding assets and already has cut thousands of
workers as it tries to navigate a turnaround.