Transportation, Retail and Markets Correspondent, Canada
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Dec 12, 2013

Lululemon warns on Q4 sales, cuts outlook, sending shares lower

TORONTO (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research) warned on Thursday that fewer customers visiting its stores and ongoing supply chain issues are hitting sales in the crucial fourth quarter, news that sent shares of the trendy Canadian yogawear chain tumbling.

The company, which was hit by an embarrassing recall in March when some of its signature black pants proved too see-through, said sames-store sales would be flat and lowered its full-year outlook, raising concern about whether momentum at the once-hot retailer is fading.

Dec 12, 2013

Lululemon warns on fourth quarter sales, cuts outlook; shares plunge

TORONTO (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) warned on Thursday it expects flat same-store sales in the crucial fourth quarter due to “macro and execution issues” and cut its full-year outlook, sending shares of the trendy Canadian yogawear chain tumbling.

The warning came even as the retailer, which was hit by an embarrassing recall in March when some of its signature black pants proved too see-through, reported third-quarter earnings that beat expectations.

Dec 12, 2013

Lululemon warns on Q4 sales, cuts outlook; shares plunge

TORONTO, Dec 12 (Reuters) – Lululemon Athletica Inc
warned on Thursday it expects flat same-store sales in the
crucial fourth quarter due to “macro and execution issues” and
cut its full-year outlook, sending shares of the trendy Canadian
yogawear chain tumbling.

The warning came even as the retailer, which was hit by an
embarrassing recall in March when some of its signature black
pants proved too see-through, reported third-quarter earnings
that beat expectations.

Dec 11, 2013

Hudson’s Bay outlook disappoints; loss widens on Saks deal

Dec 11 (Reuters) – Hudson’s Bay Co cut its 2013
outlook on Wednesday on expectations of heavier holiday
discounting and as overall sales were weaker than expected in
the third quarter, depressing the retailer’s stock 5 percent.

The company, which completed its $2.4 billion purchase of
U.S. luxury chain Saks Inc last month, reported a wider net loss
primarily due to costs related to the acquisition.

Dec 10, 2013

Lululemon names new CEO; founder Wilson to step down

By Solarina Ho and Ashutosh Pandey

(Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) named a new chief executive on Tuesday, and said founder Chip Wilson will step down as chairman, as the upscale yogawear retailer tries to go global and put a series of embarrassing quality issues and other gaffes behind it.

Lululemon said Laurent Potdevin, most recently president of trendy footwear brand TOMS Shoes, will replace Christine Day as CEO in January, and emphasized his role leading TOMS global expansion.

Dec 10, 2013

Canadian employers to keep adding jobs in Q1 2014 -Manpower

TORONTO, Dec 10 (Reuters) – Canadian companies are planning
to hire at a slightly faster pace in the first quarter of 2014
than in the current quarter, according to data released on
Tuesday that also showed construction remained the most robust
industry among those surveyed.

ManpowerGroup Inc, the world’s No. 3 staffing
company, found in its latest quarterly national survey of more
than 1,900 employers that 13 percent planned to increase their
payrolls next quarter, while 8 percent expected to make staffing
cuts.

Dec 6, 2013

Air Canada appears close to buying up to 60 jets: sources

By Tim Hepher and Solarina Ho

(Reuters) – Air Canada (ACb.TO: Quote, Profile, Research, Stock Buzz) appears close to deciding whether to buy up to 60 new narrowbody jets from Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) or Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz), a decision that could settle which of the giant plane makers wins their annual order race, industry sources said.

The Canadian flag carrier has said it is looking to renew its fleet of single-aisle aircraft, which includes more than 50 Airbus A320 and A321 jets, as well as 45 Embraer 190 planes.

Dec 3, 2013

Analysis: Canada’s cold shoulder to Target a cautionary tale

TORONTO (Reuters) – U.S. retailers looking north in their quest for growth should consider the frosty reception Canada has so far given trendy discounter Target Corp a cautionary tale: what looks like a simple border crossing can easily go wrong.

On the surface, Canada seems a good bet for retailers tiptoeing outside the United States, with Nordstrom and Saks among those now lined up to test the market. But winning over Canadians is no cake walk, and name recognition alone won’t do the trick.

Nov 26, 2013

Sears Canada to slash 800 jobs in services units, head office

TORONTO, Nov 26 (Reuters) – Sears Canada Inc is
laying off nearly 800 employees as it overhauls its repair
services and parts businesses and makes further staffing cuts at
its head office, the department store chain said on Tuesday.

News of the layoffs broke shortly before markets closed,
sending shares up 4 percent to close at C$18.98.

Nov 22, 2013

Magna will grow, but not via Peugot’s Faurecia, CEO says

TORONTO (Reuters) – Auto parts maker Magna International Inc (MG.TO: Quote, Profile, Research, Stock Buzz) has room to grow, but it won’t bid for PSA Peugeot Citroen’s (PEUP.PA: Quote, Profile, Research, Stock Buzz) stake in auto parts maker Faurecia (EPED.PA: Quote, Profile, Research, Stock Buzz), the Canadian company’s chief executive said in an interview on Thursday.

CEO Don Walker also said that strong U.S. vehicle demand was pushing plants to capacity and could leave automakers scrambling to increase production.

    • 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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