Quebec convenience store giant Alimentation Couche-Tard is aiming to double its net earnings in the next five years even after seeing its operations dramatically expand in North America and Europe, the company's chief executive said Wednesday.
The company, which primarily operates under the Circle K banner, says it will achieve the target through a combination of organic growth and further acquisitions.
The Montreal-based retailer announced the signing of additional distribution agreements with major Canadian grocery chains, expanding the availability of its tea sachets in the Canadian and Quebec grocery aisle to an additional 1,250 new grocery stores, effective in the fall of 2019.
DAVIDsTEA’s iconic tea sachets are already available in over 450 Loblaw Companies Limited (TSX:L) banner locations across Canada since last August. In May, DAVIDsTEA expanded its arrangement with Loblaw and effective in the Fall, its tea sachets in a variety of best-selling flavours will be available in over 1,250 Loblaw pharmacy and grocery storefronts across Canada. Today’s announcement adds new major grocery chains and brings the total number of retail locations that will carry DAVIDsTEA tea products to over 2,500 across the country.
Paul Wood has been named to succeed Thomas Haig as president of Giant Tiger. Wood is currently executive vice president and CFO. Prior to that he served as VP of Finance, director of accounting and senior manager, accounting.
Haig is retiring after serving as president since 2015. Previous to that, he worked in senior roles in the retail sector, including serving as president and executive vice president at Hudson’s Bay Co. (Grocery Business Magazine)
PayPal is launching a new platform for online businesses to manage cross-border shipments between Canada and the US.
The new solution will allow sellers conducting business on various online platforms to access a single web page to ship items. After importing their sales from e-commerce platforms like Shopify, Etsy, eBay, or WooCommerce into the platform, sellers can then pick and choose the most efficient way to send parcels to customers. Through the platform, tracking links will be made available for each parcel, and deliveries to the United States can be completed in one day.
The company has partnered with netParcel, a Toronto-based startup that offers discounted shipping rates, to allow more than 250,000 businesses that use PayPal to take advantage of aggressive shipping discounts, whether they are shipping parcels within Canada, to the US, or overseas.
The average cost of a gram of cannabis from the illicit market continues to drop as legal prices rise -- with authorized retailers charging as much as 80 per cent more, according to an analysis by Statistics Canada.
The government agency said Wednesday that the average price of an illegal gram of pot was $5.93 in the second quarter, down from $6.23 in the previous quarter and $6.51 in the prior quarter.
The cost of a legal gram of weed, however, was $10.65, up from $10.21 in the previous quarter and $9.82 in the fourth quarter of 2018, based on self-submitted quotes.
After spiking two months ago, the price of celery has dropped by about half. Sylvain Charlebois, professor of Food Distribution and Policy at Dalhousie University in Halifax, says Canada is now producing enough of the vegetable that we no longer have to import as much from the US.