Sales down at Canadian restaurants amid a sustained wave of negative news
Metro Inc. says a strong economy and low unemployment are driving customers to its full-service grocery stores and helping to offset the intense promotional pressure, mostly from discount chain competitors. "The strength of the economy in both Quebec and Ontario, combined with low food inflation, currently favour the full-service supermarket, and we are pleased with the performance of the Metro banner in both provinces," CEO Eric La Fleche said Tuesday during a conference call about its second-quarter results.
A U.S. bankruptcy judge has approved the sale of the Canadian operations of Toys "R" Us to Toronto-based Fairfax Financial Holdings Ltd.
Tapped-out consumers will dampen sales in the food services industry over the next five years. Restaurant sales are forecast to grow by an average of just 1.4 per cent per year between 2018 and 2022, according to The Conference Board of Canada's Canadian Industrial Outlook: Food Services. "Canadians' ability to spend will be squeezed not just by high debt levels, but by rising interest rates that will increase the cost of servicing their debt," said Michael Burt, Director, Industrial Economic Trends, The Conference Board of Canada. "This will leave Canadians with less disposable income and likely diminish their willingness to dine out."
Henry's, Canada's greatest camera store, today announced the launch of The Lens, a new national photo and video creator magazine that will instantly click with Canadian photographers, videographers, cinematographers and content creators across every skill level from beginner to pro. Featuring award-winning Canadian photographer Chris Gordaneer, Toronto photographer and social influencer "Soteeoh," and many more experts in its debut issue, The Lens will be available free in stores at all Henry's retail locations starting May 15th, and distributed via Canada Post to select communities across Canada. With a circulation of 120,000 across Canada, the must-read magazine will publish a new issue each season in partnership with Rogers Media, leaders in the consumer-magazine space with such well-known properties as Maclean's, Chatelaine and Today's Parent. "The Lens is a way for Henry's to share our passion for photography, video and content creation with our customers in an exciting new way," said Jeff Tate, Vice President, Marketing and eCommerce at Henry's. "For more than 100 years, we've prided ourselves on delivering an exceptional customer experience and being part of the creative community. Now, with the help of Rogers Media, The Lens will bring our customers even more information and inspiration, shining a spotlight on Canada's finest content creators."