McGill says pro-Palestinian protest outside senior administrator's home 'crosses the line'
McGill University has denounced a pro-Palestinian protest held Sunday outside the home of one of its senior administrators.
Canadian Tire Corp. Ltd. is the latest retailer to warn of softening consumer demand as high costs of living continue to rein in spending.
"The increased cost of living combined with higher interest rates has created a period of hesitation among Canadian consumers," president and CEO Greg Hicks told analysts during a conference call Thursday.
"This has had an obvious impact on our operations," he added.
The retailer on Thursday reported its first-quarter profit rose compared with a year ago even as its revenue fell about five per cent. Its net income attributable to shareholders totalled $76.8 million or $1.38 per diluted share for the quarter ended March 30, the company said in a release.
The result was up from a profit of $7.8 million or 13 cents per diluted share in the same quarter last year when it was hit by costs related to a warehouse fire.
Canadian Tire says its normalized profit amounted to $1.38 per diluted share in its latest quarter, up from a normalized profit of $1 per diluted share in the same quarter last year.
Revenue for the quarter totalled $3.52 billion, down from $3.71 billion in the same period last year.
Consolidated comparable sales fell 1.6 per cent as fewer people shopped at retail stores amid high interest rates and inflationary pressures.
Same-store sales at Canadian Tire retail were down 0.6 per cent, compared to 4.8 per cent decline at the same time last year.
Mark's and SportChek same-store sales also fell, in line with overall consumer sentiments on discretionary spending.
At Mark's comparable sales were down 1.2 per cent, while SportChek dropped 6.5 per cent in same-store sales.
Hicks said potential interest rate cuts "could foster stability, easing uncertainties in our business operations."
The Bank of Canada has been closely watching economic data -- including consumer spending -- as waits for the right time to begin lowering interest rates. Its next decision is scheduled for June 5.
This report by The Canadian Press was first published May 9, 2024.
McGill University has denounced a pro-Palestinian protest held Sunday outside the home of one of its senior administrators.
If you've been to a party lately and haven't seen someone drinking a BORG, you're likely not partying with college students.
Singapore Airlines will reward its employees with a bonus worth nearly eight months of salary, a person familiar with the matter told CNN on Friday.
Michael Cohen testified Monday that he stole tens of thousands of dollars from his ex-boss Donald Trump’s company, an admission defence lawyers hope to use to undermine Cohen’s credibility.
Katy Perry said her goodbyes on 'American Idol' after seven seasons. On Sunday night’s live 'idol' season finale, a medley of Perry's hit songs were performed, including 'Teenage Dream,' 'Dark Horse' and 'California Gurls.'
The U.S. Supreme Court on Monday rejected an appeal by a Canadian-born former Guantanamo detainee who was seeking to wipe away his war crimes convictions, including for killing a U.S. soldier in Afghanistan.
U.S.-based restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court after securing $100 million in financing commitments from its existing lenders, the company said on Sunday.
Questions about how the team is going to handle the absence of star winger Brock Boeser from a do-or-die game seven dominated pre-game interviews with the Vancouver Canucks coach and players Monday morning.
A 35-year-old woman is in critical condition after the pick-up truck she was driving was struck by a Via Rail passenger train Monday morning in Quebec's Monteregie region.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.
When Adam Kirschner wrote 'Slap Shot,' he never imagined the song would be embraced by his favourite team.
A team is ready to help an entangled North Atlantic right whale in the Gulf of St. Lawrence.