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.
By Solarina Ho
(Reuters) – Canadian Pacific Railway Ltd (CP.TO: Quote, Profile, Research, Stock Buzz), the country’s second-largest railroad, reported a higher-than-expected 17 percent jump in first quarter earnings on Tuesday and expressed confidence it can meet its targets for the year despite having to deal with setbacks from one of the harshest winters in decades.
CP shares jumped 6 percent to C$173.83 on the Toronto Stock Exchange in early morning trading. The stock is up more than 30 percent over the past year, but it had struggled since the company reported its previous quarterly results in late January, hurt by concerns about the impact of the winter weather.
TORONTO (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) shares slumped as much as 7.4 percent to the lowest in nearly month on Monday as analysts worried about the premium Canadian yogawear retailer’s growth prospects following its analyst day presentation last week.
“We came away from these meetings with the distinct impression of a company losing focus,” Credit Suisse’s Christian Buss said in a research note after the presentation. “… this seems inappropriate for a brand that has faced significant product flow, quality, and brand communication challenges.”
TORONTO, April 17 (Reuters) – Lululemon Athletica Inc
, best known for its trendy yoga wear, hopes to drive
growth in coming years by expanding its range of fitness-related
apparel and accelerating international plans, its newly
appointed chief executive said on Thursday.
Laurent Potdevin, who was recruited to revive the company’s
fortunes after an embarrassing recall and supply chain issues
last year raised questions about growth prospects, made the
comments in Vancouver at the retailer’s analyst day.
April 9 (Reuters) – Canada’s Dollarama Inc reported
a higher-than-expected rise in quarterly earnings on Wednesday
even though it had warned earlier this year that temporary store
closures from an ice storm had hurt results in December.
The Montreal-based discount retailer, whose shares jumped
more than 7 percent, also raised its quarterly dividend.
TORONTO (Reuters) – Workers at Toyota Motor Corp’s (7203.T: Quote, Profile, Research, Stock Buzz) Canadian plants are set to vote next week on whether to become the first at wholly owned Toyota facilities in North America to unionize, a push Canada’s biggest private-sector union is confident will succeed.
A “yes” vote would mark a major victory for the union, Unifor, which has more than 300,000 members, including more than 39,000 in the auto industry, even though previous attempts to organize Toyota’s Canadian plants failed.
TORONTO, March 31 (Reuters) – Workers at Toyota Motor Corp’s
Canadian manufacturing plants are set to vote
next week on whether to become the first at Toyota operations in
North America to unionize.
Unifor, Canada’s largest private-sector union, said on
Monday it has filed with the Ontario labor board to hold a union
certification vote at the three Toyota Motor Manufacturing
Canada Inc assembly plants, which are located in Cambridge and
TORONTO (Reuters) – Lululemon Athletica Inc’s (LULU.O: Quote, Profile, Research) new chief executive pledged on Thursday to speed up the yogawear retailer’s global expansion while avoiding missteps like last year’s embarrassing recall of its trademark yoga pants, helping boost its once high-flying stock.
Investors, reassured by comments made during a conference call and more optimistic about Lululemon’s long-term prospects, pushed its shares up as much as 10 percent on Thursday. The stock ended 6.2 percent higher at $51.20 on the Nasdaq.
TORONTO, March 27 (Reuters) – Lululemon Athletica Inc
forecast lower-than-expected first-quarter results on
Thursday, the latest setback for the Canadian yogawear retailer
hit last year by a product recall.
The retailer also posted a quarterly profit that was almost
unchanged from a year earlier. Shares fell 3.5 percent to $46.50
in premarket trading.
TORONTO, March 26 (Reuters) – Bombardier will
delay the first test flight of its Learjet 85 business jet after
discovering a systems problem that requires a software update,
the Canadian company said on Wednesday in the latest setback for
its aircraft development program.
A company spokeswoman declined to provide a new timetable
for the Learjet’s maiden flight, and would not offer details on
the nature or seriousness of the problem.