Transportation, Retail and Markets Correspondent, Canada
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Aug 12, 2014

Target says supply chain ‘reset’ will help fix Canada woes

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.

Aug 8, 2014

SNC Lavalin, dogged by old projects, misses in Q2

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
bottom line.

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, 2014

Air Canada has Q2 profit but falling yields hit shares

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
destinations.

Jul 30, 2014

Bombardier restructuring exposes liquidity, debt risks -analysts

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
portfolio.

Jul 23, 2014

Canada’s rail safety measures: earlier and tougher than U.S.

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.

Jul 17, 2014

CP Rail sees more growth as 2nd quarter tops forecasts

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.

Jul 2, 2014

Canada auto sales hit records for June and first half

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
on Wednesday.

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
report.

Jun 5, 2014

UTC sees no big impact from Bombardier engine-test failure

By Lewis Krauskopf and Solarina Ho

(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.

May 7, 2014

Tim Hortons results fall short as company spends on growth

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.

Apr 24, 2014

Sears Canada CEO says not pursuing more asset sales for now

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.

    • 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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