Alberta economy doing better than expected in June forecast, TD economists note

Alberta economy doing better than expected in June forecast, TD economists note
CALGARY — Economists at TD Bank say they are looking at upgrading their Alberta growth expectations for 2019 as signs point to a more robust than expected recovery from the effects of extreme heavy oil price weakness in late 2018. The bank suggested in a forecast in June that the province’s economy would grow by a “paltry” 0.5 per cent this year and... Read More

Johnson & Johnson 2Q profit jumps 42% despite lower sales

Johnson & Johnson 2Q profit jumps 42% despite lower sales
Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 per cent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune disorder drugs on Tuesday raised its full-year sales forecast,... Read More

Retail rivals crash Amazon’s Prime Day party

Retail rivals crash Amazon’s  Prime Day party
NEW YORK — The gravitational pull of Amazon Prime Day is so strong on shoppers it’s benefiting other retailers as well, according to an early analysis from a key data group. On Monday, the first day of its 48-hour sales event, large retailers, those that generated annual revenue of at least a billion dollars, enjoyed a 64% increase in online... Read More

Cannabis producer Organigram Holdings Inc. reports $10.2M third-quarter loss

Cannabis producer Organigram Holdings Inc. reports $10.2M third-quarter loss
MONCTON, N.B. — Organigram Holdings Inc. reported a loss of $10.2 million in its latest quarter compared with a profit of $2.8 million. The cannabis producer says the loss amounted to nearly seven cents per share for the quarter ended May 31 compared with a profit of three cents per share in the same quarter a year ago. Net revenue... Read More

China’s economy growth cools further amid US tariff war

China’s economy growth cools further amid US tariff war
BEIJING — China’s economic growth slowed to its lowest level in a decade in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world’s second-largest economy grew 6.2% over a year ago, down from the previous quarter’s 6.4%, government data showed Monday. That was the weakest growth since the... Read More

Aritzia continues sales growth streak, reports nearly 32% jump in income

Aritzia continues sales growth streak, reports nearly 32% jump in income
VANCOUVER — Aritzia Inc. continued its sales growth streak in its most recent quarter as the clothing retailer’s net income jumped nearly 32 per cent. The Vancouver-based company says it achieved its nineteenth straight quarter of comparable sales growth, a key retail metric, with a 7.9 per cent jump for the 13 weeks ending June 2. Its net income increased... Read More

Amazon, seeking more skilled workers, will do the training

Amazon, seeking more skilled workers, will do the training
NEW YORK — Amazon, needing a more tech-savvy workforce, is offering to pay to retrain its employees and help them switch to more technical jobs at Amazon or elsewhere. The online shopping giant said Thursday that it plans to spend $700 million by 2025 to retrain 100,000 workers, or a third of its U.S. workforce. The initiative could help Amazon... Read More

Indigo maintains global brand ambitions despite challenging year for bookseller

Indigo maintains global brand ambitions despite challenging year for bookseller
Indigo Books & Music Inc. maintains its ambition to grow into a global brand despite a challenging year for the bookseller that saw declining traffic at the mall where it opened its first U.S. location. “We remain committed — even more committed — to expanding our brand outside of Canada,” said CEO Heather Reisman at the company’s annual general meeting... Read More

HBC hires advisers, lawyers to aid in reviewing privatization offer

HBC hires advisers, lawyers to aid in reviewing privatization offer
TORONTO — The Hudson’s Bay Company says its special committee of the board of directors formed to assess a privatization proposal has retained an independent valuator, advisers and legal counsel to help with the process. The special committee retained TD Securities Inc. to be an independent valuator and Canterview Partners LLC to be a special adviser. It has also retained... Read More