Transportation, Retail and Markets Correspondent, Canada
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Nov 14, 2013

Lululemon shares slide on downgrade as gaffes, CEO search weigh

TORONTO (Reuters) – High-end yoga-wear retailer Lululemon’s shares fell nearly 5 percent to its weakest level in a month on Thursday after an analyst downgraded the stock following fresh blows to the company’s reputation as it hunts for a new chief executive officer.

The company, which recalled its popular black luon yoga pants in March because they were too see-through, recently faced new customer complaints that some products were too susceptible to pilling – the small, unsightly balls of fibers that form on fabric from wear and tear.

Nov 14, 2013

Embattled Toronto mayor vows to sue over lurid allegations

TORONTO (Reuters) – Embattled Toronto Mayor Rob Ford, under pressure to quit after he admitted smoking crack cocaine and buying illegal drugs, vowed on Thursday to sue former aides that he said had lied about his behavior.

Police documents released on Wednesday quoted Ford associates as alleging the mayor had driven drunk, used racially abusive language, threatened staff, consorted with a woman suspected of being a prostitute and made obscene sexual suggestions to a female member of his staff.

Nov 13, 2013

Loblaw, Metro profits fall as competition intensifies

TORONTO (Reuters) – Two big Canadian grocers reported steep declines in quarterly profit on Wednesday in the face of escalating competition from the likes of Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz), a new entrant to the Canadian market.

Loblaw Cos Ltd (L.TO: Quote, Profile, Research, Stock Buzz), Canada’s largest grocer, reported a 29 percent decline in profit for the September quarter and lowered its earnings outlook, while smaller rival Metro Inc (MRU.TO: Quote, Profile, Research, Stock Buzz) reported a larger-than-expected 40 percent drop in profit.

Nov 12, 2013

Canada’s Rona profit up as cost-cutting plan takes effect

TORONTO, Nov 12 (Reuters) – Struggling Canadian home
improvement retailer and distributor Rona Inc reported
a bigger quarterly profit on Tuesday as it cut costs, but
competition and cooling new home construction hurt sales.

The Boucherville, Quebec-based company, facing a raft of
challenges as it works through an aggressive restructuring plan,
said its results were helped by on-target cost savings, but
revenue declined on store closures and a sales slump at
established stores.

Nov 8, 2013

Lululemon says its yoga pants not meant for thick thighs

By Victoria Cavaliere and Solarina Ho

(Reuters) – When the founder of athletic apparel business Lululemon said his products were wrong for certain body shapes, some customers were quick to take offense, creating a potential public relations headache for the highly successful company.

“Quite frankly, some women’s bodies just actually don’t work for it (his clothing),” Chip Wilson said in an interview with Bloomberg TV this week. “They don’t work for some women’s bodies.”

Nov 8, 2013

Air Canada profit beats estimates, stocks jump

TORONTO (Reuters) – Air Canada’s (ACb.TO: Quote, Profile, Research, Stock Buzz) third-quarter results handily beat analysts’ estimates on Friday as a key measure of costs fell, helping to push its stock to levels not seen since the financial crisis.

Shares of Canada’s largest airline jumped more than 9.5 percent at one point after it reported a 59.4 percent surge in adjusted net income. Year-to-date, the stock has soared nearly 250 percent.

Nov 7, 2013

Tim Hortons’ profit up 8 percent, chain eyes more than coffee

TORONTO (Reuters) – Canadian coffee and doughnut chain Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz) (THI.N: Quote, Profile, Research, Stock Buzz), which is exploring ways to expand in an intensely competitive market, reported an 8 percent rise in quarterly profit as same-store sales improved slightly in the United States.

Shares of the company, which says it sells nearly eight of every 10 cups of coffee sold in Canada, edged higher following the results, which included a 3 percent rise in revenue.

Nov 6, 2013

Magna’s sales rise as Europe improves; 2013 outlook hiked

Nov 6 (Reuters) – Canadian auto parts manufacturer Magna
International Inc reported
stronger-than-expected results and hiked its 2013 outlook on
Wednesday, as strength in its European business boosted
quarterly sales by nearly 13 percent.

The news pushed Magna stock up more than 4 percent to a
record high of C$92.75 on the Toronto Stock Exchange, and to
$87.29 in New York, also a record.

Nov 1, 2013

Cost overruns pull SNC-Lavalin to quarterly loss

TORONTO, Nov 1 (Reuters) – Canada’s SNC-Lavalin Group Inc
, one of the world’s largest construction and
engineering companies, reported a quarterly loss on Friday as
cost overruns continued to hit results.

The Montreal-based company, which is trying to recover from
a far-reaching corruption scandal last year that toppled senior
executives, had warned of the loss in mid-October, when it
slashed its 2013 outlook for a second time.

Nov 1, 2013

shUPDATE 1-Cost overruns pull SNC-Lavalin to quarterly loss

TORONTO, Nov 1 (Reuters) – Canada’s SNC-Lavalin Group Inc
, one of the world’s largest construction and
engineering companies, reported a quarterly loss on Friday as
cost overruns continued to hit results.

The Montreal-based company, which is trying to recover from
a far-reaching corruption scandal last year that toppled senior
executives, had warned of the loss in mid-October, when it
slashed its 2013 outlook for a second time.

    • 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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