Auto sales to dip in most provinces, led by Ontario’s 3.1% drop: Scotiabank

Auto sales to dip in most provinces, led by Ontario’s 3.1% drop: Scotiabank
TORONTO — Canadian sales of cars and light trucks this year are expected to dip from last year’s all-time high, mostly because of weaker economic conditions in Ontario, Scotiabank said Friday in a report. The bank’s automotive outlook projected that 2018 could end a five-year string of successive records that included 2.04 million vehicles sold in 2017 — largely fuelled by demand in Ontario as well... Read More

Gildan expects American Apparel revenues to double in 2018 to US$100 million

Gildan expects American Apparel revenues to double in 2018 to US$100 million
MONTREAL — Gildan Activewear Inc. expects sales of the American Apparel brand it acquired last year will double in 2018 as it looks to expand sales of the product globally. The Montreal-based maker of apparel, including T-shirts, socks and underwear says the iconic brand it acquired last February should add about US$100 million of net sales this year, up from US$50... Read More

Statistics Canada says retail sales fell 0.8 per cent in December

Statistics Canada says retail sales fell 0.8 per cent in December
OTTAWA — Canadian retail sales fell in December after the growing popularity of Black Friday sales in advance of the holiday season boosted results in November. “The drop was no big surprise, given the clear tendency in recent years for December sales to decline — even though the figures are seasonally adjusted,” Bank of Montreal chief economist Doug Porter wrote... Read More

Walmart partnering with online grocery service to bring home delivery to Vancouver

Walmart partnering with online grocery service to bring home delivery to Vancouver
VANCOUVER — Walmart Canada Corp. says it is partnering with an online grocery service to bring home delivery to Vancouver by the summer, as the brick-and-mortar retailer ramps up its effort in the country to compete with Amazon. The arrangement will see Walmart work with Vancouver-based Sustainable Produce Urban Delivery to bring its food delivery platform, Food-X Urban Delivery Inc., to... Read More

Push to repeal bylaw allowing stores north of Toronto to open on Family Day

Push to repeal bylaw allowing stores north of Toronto to open on Family Day
Labour groups and some politicians are pushing to repeal a bylaw that allows retailers north of Toronto to stay open on holidays such as Family Day. Councillors in York Region, which consists of nine municipalities including Markham, Vaughan and Richmond Hill, Ont., voted 17-3 in favour of the Holiday Shopping Bylaw in November. The legislation exempts all businesses from a provincial... Read More

Shopify tops expectations, reports Q4 revenue up 71 per cent from year ago

Shopify tops expectations, reports Q4 revenue up 71 per cent from year ago
OTTAWA — Shopify Inc. reported a better-than-expected fourth quarter as its revenue jumped 71 per cent compared with a year ago. The Ottawa-based online store platform company, which keeps its books in U.S. dollars, said it lost $3 million or three cents per share in the last three months of 2017. That compared with a loss of $8.9 million or 10 cents per... Read More

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion
TORONTO — The Weston family is poised to create Canada’s largest real estate investment trust through a $3.9-billion deal for its publicly traded Choice Properties REIT to buy Canadian Real Estate Investment Trust. The combination of Choice Properties, which counts Loblaw as its principal tenant and largest unitholder, and CREIT will create a company with a diversified portfolio of 752... Read More

Canadian Tire buys Sher-Wood Athletics Group’s global hockey trademarks

Canadian Tire buys Sher-Wood Athletics Group’s global hockey trademarks
TORONTO — Canadian Tire Corp. says it has acquired Sher-Wood Athletics Group Inc.’s global hockey trademarks. The retailer says that INA International Ltd., a division of the company, acquired the trademarks. It says the deal also includes Sher-Wood’s related inventory. The Sherbrooke, Que.-based company has been in operation for more than 60 years. It manufactures and distributes hockey gear and hockey licensed... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (15,334.81, down 271.22 points) Aurora Cannabis Inc. (TSX:ACB). Healthcare. Up 75 cents, or 8.82 per cent, to $9.25 on 53.8 million shares. The Edmonton-based licensed marijuana producer has signed a deal to buy a minority stake in Liquor Stores N.A. Ltd., which plans to launch a brand of marijuana retail... Read More

Lululemon CEO leaves post after failing to meet company standards

Lululemon CEO leaves post after failing to meet company standards
VANCOUVER — Lululemon Athletica says its CEO has left the company after failing to meet its standards of conduct. The company says in a statement that it “expects all employees to exemplify the highest levels of integrity and respect for one another and (Laurent Potdevin) fell short of these standards of conduct.” He is also no longer on the athleisure retailer’s board of... Read More