Retail & Ecommerce – Canadian Investor

Starbucks aims to become resource-positive company, but lacks target date

January 22, 2020 CanadianInvestor

An ambitious goal for Starbucks to become a resource-positive company depends on changing consumer behaviour, which experts say is possible with the right incentives. The Seattle-based coffee chain says it will work towards storing more carbon than it emits, eliminating waste and providing more clean freshwater than it uses. Starbucks committed to three preliminary targets for 2030, including cutting carbon... Read More

Rogers Communications Q4 profit down 7 per cent at $468 million, revenue stable

January 22, 2020 CanadianInvestor

TORONTO — Rogers Communications Inc. reports it had a $468-million profit in the fourth quarter, down seven per cent from a year earlier and below analyst estimates. Net income for the Toronto-based company amounted to 92 cents per share, down from 97 cents per share or $502 million in the fourth quarter of 2018. Adjusted diluted earnings amounted to $1 per... Read More

Canada to start ratifying new NAFTA next week following U.S. approval: Trudeau

January 21, 2020 CanadianInvestor

OTTAWA — Prime Minister Justin Trudeau says Canada will move swiftly next week to formally approve North America’s new, long-delayed free trade pact. Trudeau says the government will introduce a motion to apply some of its elements Jan. 27 when Parliament resumes, and will table legislation to ratify the deal two days later. “Passing the new NAFTA in Parliament is our priority,” Trudeau said... Read More

MEC cuts costs, boosts perks in effort to turn around struggling retailer

January 20, 2020 CanadianInvestor

VANCOUVER — Mountain Equipment Co-op says it has made major changes, including looking to move its head office, as it seeks to become profitable and stay viable. The Vancouver-based company’s chief executive says in an open letter that the goal is to return MEC “to a financially healthy state.” The outdoor apparel and goods retailer reported a net loss of $11.49... Read More

Cannabis company Canopy Growth delaying launch of infused beverages

January 17, 2020 CanadianInvestor

SMITH FALLS, Ont. — Canopy Growth Corp. is delaying the launch of its cannabis-infused drinks. The company says work to scale up to commercial production is not complete and it is delaying the launch date while it completes the final steps. Canopy submitted its final documentation for its beverage facility to Health Canada last June and received its license in... Read More

Retailer Canadian Tire names Gregory Craig as new chief financial officer

January 16, 2020 CanadianInvestor

TORONTO — Canadian Tire Corp. Ltd. is promoting Gregory Craig to the job of chief financial officer, replacing Dean McCann, who is retiring. Craig is president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank. He takes over the new job on March 2. McCann will continue as a director of Canadian Tire Bank and a trustee... Read More

Emphasis on US exports, trade secrets in China trade deal

January 15, 2020 CanadianInvestor

WASHINGTON — The United States and China reached a trade deal Wednesday that eases tensions between the world’s two biggest economies, offers massive export opportunities for U.S. farms and factories, and promises to do more to protect American trade secrets. Still, the Phase 1 agreement leaves unresolved Washington’s fundamental differences with Beijing, which is relying on massive government intervention in... Read More

Starbucks to open pick-up focused Toronto spot as eateries revamp for ‘this new digital age’

January 15, 2020 CanadianInvestor

Customers accustomed to hunkering down for hours to work or socialize won’t be able to do so at the newest Starbucks format that lacks seating and encourages people to grab their drinks and go. Starbucks Canada announced Tuesday it will open what it calls a pickup store in downtown Toronto’s underground pedestrian complex, the PATH. The move is part of... Read More

HBC appoints Iain Nairn Hudson’s Bay president after worldwide search

January 13, 2020 CanadianInvestor

TORONTO — Hudson’s Bay Co. says it has appointed Iain Nairn as president of Hudson’s Bay department store chain. The company says in a statement that Nairn started in the position yesterday. Nairn comes to HBC from kikki.K, a global design and stationary business where he served as CEO. HBC CEO Helena Foulkes says in a statement that the company... Read More

Retailer Lululemon raises financial guidance for its fourth quarter

January 13, 2020 CanadianInvestor

VANCOUVER — Lululemon Athletica Inc. is raising its financial guidance for its fourth-quarter. The company, which keeps its books in U.S. dollars, says it now expects net revenue in a range of US$1.370 billion to $1.380 billion based on a total comparable sales increase in the mid to high teens on a constant dollar basis. The new range is up with earlier... Read More