HBC correcting merchandising misstep, managers get better tools: CEO

HBC correcting merchandising misstep, managers get better tools: CEO
TORONTO — Shoppers at Hudson’s Bay stores may see more personnel on the floors at the busier locations later this year, and more upscale merchandise than last year, as the retailer’s management team works to revive the chain’s sales growth. Hudson’s Bay Co. chief executive Helena Foulkes told analysts Thursday that the Toronto-based company’s main Canadian banner recognizes that it put too much emphasis last year on mid-priced products.... Read More

Dollarama shares surge after boosting sales growth forecast for the year

Dollarama shares surge after boosting sales growth forecast for the year
MONTREAL — Dollarama Inc. shares surged more than 11 per cent Thursday after the discount retailer boosted its sales growth forecast for the year on hopes that its strategy to increase traffic and sales numbers pays off. The Montreal-based retailer’s shares gained $4.72 at $46.93 in early afternoon trading on the Toronto Stock Exchange. The company said Thursday that it expects comparable store sales growth of between... Read More

Hexo details U.S. CBD plans as Q3 earnings miss estimates, stock slips

Hexo details U.S. CBD plans as Q3 earnings miss estimates, stock slips
Cannabis company Hexo Corp. outlined its plans to enter eight U.S. states with CBD products in 2020 as it reported third-quarter earnings that fell short of expectations, sending its stock lower. Hexo chief executive Sebastien St.-Louis would not say which states the pot producer was prioritizing, but the company expects to enter the U.S. market through a joint venture with Molson Coors Brewing Co. He added that it plans to... Read More

Bell follows Rogers ‘unlimited’ data in promotion plans, Telus on different path

Bell follows Rogers ‘unlimited’ data in promotion plans, Telus on different path
TORONTO — Bell has responded to a new Rogers wireless data pricing strategy by offering limited-time promotions that also don’t charge overage fees once the cap has been exceeded — a new approach for Canada’s national wireless carriers. Like its rival, Bell is offering a $75 per month plan with up to 10 gigabytes of full-speed data usage per month, followed... Read More

Transat sees second-quarter profits fall as Air Canada takeover talks continue

Transat sees second-quarter profits fall as Air Canada takeover talks continue
MONTREAL — A Quebec developer seeking to outbid Air Canada with a takeover proposal for Transat AT Inc. says he will hand a formal offer to the tour operator before Transat’s exclusive talks with Air Canada end on June 26. “We will file one, because they’e asking for one,” Group Mach Inc. chief executive Vincent Chiara told The Canadian Press.... Read More

Crude oil production to reach 5.86 million barrels per day by 2035: CAPP

Crude oil production to reach 5.86 million barrels per day by 2035: CAPP
CALGARY — The Canadian Association of Petroleum Producers is projecting Canadian crude oil production will increase by 1.27 million barrels per day to 5.86 million by 2035. The association’s latest forecast predicts total production in Western Canada will reach 5.76 million barrels per day in 2035 compared with 4.36 million in 2018. Production in Eastern Canada is forecast to peak at 354,000... Read More

Walmart eliminates dedicated president role for Jet.com unit

Walmart eliminates dedicated president role for Jet.com unit
NEW YORK — Walmart is eliminating the position of president at its Jet.com subsidiary, which it acquired in 2016, as it further merges the rest of its team with its namesake online operations. As part of the changes, Jet.com’s president, Simon Belsham will leave in August. Strategy and management of Jet.com will fall under Kieran Shanahan, who will continue to... Read More

Discount retailer Dollarama reports Q1 profit and sales up from year ago

Discount retailer Dollarama reports Q1 profit and sales up from year ago
MONTREAL — Discount retailer Dollarama Inc. says it earned $103.5 million in its latest quarter, up from $101.5 million a year ago, as revenue grew by 9.5 per cent. The company says the profit amounted to 33 cents per diluted common share for the quarter ended May 5 compared with 31 cents per diluted common share a year ago. Sales... Read More