Transportation, Retail and Markets Correspondent, Canada
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Jan 15, 2015

In surprise move, Target to pull out of Canada

TORONTO, Jan 15 (Reuters) – Target Corp will abandon
its ill-fated expansion into Canada less than two years after
its launch, the U.S. discount retailer said on Thursday in a
surprise full retreat that will put more than 17,000 employees
out of work and cost the company billions in writedowns.

Target’s shares rose 3 percent in midmorning trading after
the company said it will seek court protection from creditors in
Canada for the money-losing subsidiary and shut all its 133
stores in the country.

Jan 12, 2015

Lululemon forecast signals turnaround moves bearing fruit

Jan 12 (Reuters) – Lululemon Athletica Inc issued a
robust forecast for the current quarter on Monday that topped
market expectations and lifted its shares as strong holiday
sales signaled the Canadian yogawear maker’s comeback efforts
may be paying off.

Shares jumped nearly 9 percent on the outlook, which
forecast an increase in comparable store sales of 6 to 7
percent, roughly double analysts’ expectations.

Jan 9, 2015

C$ slides to 5-1/2 lows on U.S., Canada jobs data

TORONTO, Jan 9 (Reuters) – The Canadian dollar stumbled to
its weakest finish in more than 5-1/2 years on Friday after
North American jobs data signaled an interest rate hike in the
United States and the status quo in Canada.

Canada shed 4,300 jobs in December after losing 10,700 in
November. Market forecasters had estimated an increase of 15,000
jobs. The overall unemployment rate held at 6.6 percent.

Jan 9, 2015

U.S., Canada jobs data drag C$ to 5-1/2 lows

TORONTO, Jan 9 (Reuters) – The Canadian dollar stumbled to
its weakest level in more than 5-1/2 years following North
American jobs data that showed a weaker-than-expected labor
market in Canada and sturdy gains in the United States, further
evidence that the Federal Reserve is likely to raise interest
rates this year.

Canada shed 4,300 positions in December after losing 10,700
jobs in November. Market forecasters had estimated an increase
of 15,000 jobs. The overall unemployment rate held at 6.6
percent.

Jan 7, 2015

Canadian dollar seen pressured by cheap oil, expected Fed hike: Reuters poll

TORONTO (Reuters) – The Canadian dollar is expected to trade near a five-year low against its U.S. counterpart for much of this year, under pressure from a crash in crude oil prices and an impending U.S. interest rate hike, according to a Reuters poll.

Currency strategists polled by Reuters have slashed their forecasts from a month ago after a rocky start to 2015, with heavy selling that has already knocked down the loonie nearly 2 percent to its weakest since early 2009.

Dec 19, 2014

Sears Canada speeding up investments in turnaround effort: CEO

TORONTO (Reuters) – Sears Canada Inc (SCC.TO: Quote, Profile, Research, Stock Buzz) is stepping up spending on areas such as its website and profitable merchandise categories while looking to exit unprofitable product lines as part of its turnaround plan, the retailer’s new acting chief executive said on Friday.

“We’re going to make some of those tough decision about businesses in short order,” Ron Boire told Reuters in an interview, adding that the company was in a very strong liquidity position, with no short- or long-term debt.

Dec 11, 2014

Lululemon profit beats on lower costs, but revenue outlook cut

Dec 11 (Reuters) – Yogawear chain Lululemon Athletica Inc
reported a stronger-than-expected quarterly profit on
Thursday, driven in part by lower costs, but U.S. port
disruptions and delayed store openings took a toll on its
revenue outlook.

Shares of the Canadian retailer jumped 10 percent to $51.32
after it reported the results, with investors taking note of an
increase in comparable store sales.

Dec 9, 2014

Tim Hortons CEO gets million dollar bonus after Burger King deal

TORONTO (Reuters) – Tim Hortons Inc’s chief
executive will get a C$1 million ($871,460) bonus following the
C$12.64 billion takeover deal by Burger King Worldwide,
the Canadian coffee and donut chain said in a regulatory filing
on Monday.

Burger King agreed to buy the Canadian company in August in
a transaction that will create the world’s third-largest
fast-food restaurant group. The Canadian government approved the
takeover, which will create a new company based north of the
border, last week.

Dec 9, 2014

Hudson’s Bay loss narrows as Saks helps it nearly double sales

TORONTO (Reuters) – The purchase of upscale U.S. retailer Saks Inc helped Canadian department store operator Hudson’s Bay Co (HBC.TO: Quote, Profile, Research, Stock Buzz) nearly double retail sales and post a smaller quarterly loss on Tuesday.

While its earnings per share were slightly below expectations, Hudson’s Bay stock rebounded from early losses to rise 2.1 percent to C$23.99 in Toronto. The stock has taken much of its recent direction from the retailer’s moves to extract greater value from its real estate portfolio.

Dec 2, 2014

Resource focus makes Canada tougher place to invest -Mawer

TORONTO, Dec 2 (Reuters) – A fast-growing Canadian boutique
money manager that has beaten the benchmarks of many of its
mutual funds says the country’s concentration of resource
companies makes it a challenging investment market.

Calgary, Alberta-based Mawer Investment Management Ltd has
C$26 billion ($22.82 billion) in assets under management, up
from just C$5 billion in 2008.

    • 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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