DavidsTea evaluating options, including sale, just two years after going public

DavidsTea evaluating options, including sale, just two years after going public
MONTREAL — Canadian beverage retailer DavidsTea is evaluating its strategic options more than two years after it went public and soon after rival Teavana shut its doors. The Montreal-based company announced the move Thursday while reporting weaker than expected third-quarter results. DavidsTea (NASDAQ:DTEA) says its losses surged 30 per cent to $6.5 million from $5 million a year ago. That... Read More

Retailer Dollarama reports third-quarter profit and sales up from year ago

Retailer Dollarama reports third-quarter profit and sales up from year ago
MONTREAL — Dollarama Inc. says it earned $130.1 million in its third quarter, up from $110.1 million in the same quarter last year, boosted by higher sales. The company (TSX:DOL) says the profit amounted to $1.15 per diluted share, up from 92 cents per diluted share a year ago when the company had more shares outstanding. Analysts on average had... Read More

Retailer HBC reports $243M third-quarter loss, sales down from year ago

Retailer HBC reports $243M third-quarter loss, sales down from year ago
TORONTO — Hudson’s Bay Co. lost $243 million in its latest quarter as overall revenue and comparable-store sales fell compared with a year ago. The retailer (TSX:HBC) said Wednesday the loss amounted to $1.33 per diluted share for the 13 weeks ended Oct. 28 compared with a loss of $125 million or 69 cents per diluted share a year ago. Retail... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,915.68, down 53.35 points) Aphria Inc. (TSX:APH). Health care. Up $1.91, or 16.44 per cent, to $13.53 on 12.02 million shares. The marijuana producer announced after markets closed on Monday that it has entered a five-year agreement to supply pharmacy chain Shoppers Drug Mart with medical cannabis. The... Read More

Class action lawsuit against PayPal alleges hidden currency conversion fees

Class action lawsuit against PayPal alleges hidden currency conversion fees
TORONTO — A class action lawsuit has been filed against PayPal Canada on behalf of an Ontario man alleging that the online payments company charges Canadians hidden currency conversion fees, violating its user agreement. Court documents filed to the Ontario Superior Court on Nov. 24 on behalf of Leonid Kaplan state that when PayPal Canada account holders wish to withdraw foreign currency from their accounts, the... Read More

Christmas tree prices on the rise for first time in almost a decade

Christmas tree prices on the rise for first time in almost a decade
CALGARY — You might have to pay a little more for the evergreen scent of a natural Christmas tree this year as droughts and increased demand have put pressure on prices. Jimmy Downey, president of the Quebec Christmas Tree Growers Association, says his prices are up about 10 per cent this year for the first rise in close to a decade. He says the increase... Read More

Jean Coutu shareholders overwhelmingly approve pharmacy chain’s sale to Metro

Jean Coutu shareholders overwhelmingly approve pharmacy chain’s sale to Metro
MONTREAL — Jean Coutu Group shareholders have overwhelmingly approved the sale of the pharmacy chain to fellow Quebec retailer Metro Inc. A near-unanimous 99.9 per cent of votes cast sanctioned the $4.5-billion transaction, well above the two-thirds requirement. Shareholders of Jean Coutu (TSX:PJC.A) are being offered a combination of cash and stock worth about $24.50 per share. The deal announced nearly... Read More

Sobeys to cut 800 office jobs as part of reorganization of grocery business

Sobeys to cut 800 office jobs as part of reorganization of grocery business
TORONTO — The Sobeys grocery business will be cutting about 800 office jobs across Canada as part of efforts to create one efficient national organization out of five regional operations, the company announced Friday. “The future success of Sobeys, and our continued service to over 900 communities across the country, depends on our steadfast commitment to transform our business,” said... Read More

Survey suggests more Canadians plan to do holiday shopping online this year

Survey suggests more Canadians plan to do holiday shopping online this year
A new survey suggests more Canadians are planning to do some or all of their holiday shopping online this year. A survey commissioned by FedEx Canada and released today found that 65 per cent of Canadians polled planned to shop online this year, while 55 per cent said they did so last year. Six per cent of those polled said they planned... Read More

Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up

Broad-based rally lifts Toronto stock index and Wall Street higher, loonie up
TORONTO — Strong U.S. corporate earnings helped push North American stock indexes higher Thursday, as markets bounced back from modest declines a day earlier. The S&P/TSX composite index was up 56.89 points to 15,935.37, with energy shares one of the few decliners amid a continuing drop in the price of oil. The January crude contract was down 17 cents at US$55.35 per barrel —... Read More