Top Stories: National

Le Château Reports First Quarter Results

Le Château Inc. reported financial results for the first quarter ended April 27, 2019. Unless otherwise indicated, the Company's results for the first quarter reflect the impact of the implementation of IFRS 16.

Sales for the first quarter ended April 27, 2019 amounted to $36.1 million as compared with $41.1 million for the first quarter ended April 28, 2018, a decrease of 12.2%, with 18 fewer stores in operation. Comparable store sales, which include online sales, decreased 5.9% versus the same period a year ago, with comparable regular store sales decreasing 6.9% and comparable outlet store sales increasing 2.3% (see non-GAAP measures below). Sales were negatively impacted in the first quarter of 2019 by reduced store traffic due to unseasonable weather conditions.

Net loss for the first quarter ended April 27, 2019 amounted to $10.8 million or $(0.36) per share compared to a net loss of $10.8 million or $(0.36) per share for the same period last year...

globenewswire.com

Canadian Actor and Director Jason Priestley Kicks Off 10th Annual Moores Suit Drive

Canadian actor and director Jason Priestley, well-known for his role in hit TV series Beverly Hills 90210 and Private Eyes, launches the Moores Clothing for Men’s 10th Annual Suit Drive by making the first donation to the cause at the retailer’s downtown Vancouver store today before heading to its Toronto flagship location to do the same. The Drive will run nationally starting July 1 to 31, when consumers can donate gently-used professional clothing at Moores stores across the country.

“The Moores Suit Drive is all about giving people who may be down on their luck and seeking employment, a leg up with the right clothes,” said Priestley. “A polished look can boost your confidence and create a positive attitude. A simple gesture of donating a suit can help make a difference and change someone’s life for the better.”

business.financialpost.com

Empire Co. to invest $70M in expanding Farm Boy network in fiscal 2020

Farm Boy’s new parent company revealed a few details Thursday about its plans to expand the Ottawa-born grocery chain’s network this coming fiscal year.

Reporting its quarterly and annual earnings Thursday morning, Empire Co. Ltd. recorded a profit of $122.1 million in its latest quarter, up from $71 million in the same quarter last year.

The company behind the Sobeys and Farm Boy grocery stores says it will increase its quarterly payment to shareholders by a penny to 12 cents per share. The improved dividend came as Empire reported its profit amounted to 45 cents per share for the 13 weeks ended May 4, compared with 26 cents per share a year earlier.

obj.ca

New Online Shroom Store Hopes To Follow In Footsteps Of Cannabis

As the dust settles on cannabis legalization in Canada, one Vancouver activist is setting his sights to what he hopes will be the next drug legalized — psilocybin mushrooms, aka “magic” mushrooms.

And you can buy them from him right now — if you’ve got the paperwork.

huffingtonpost.ca

Why an OVO partnership makes sense for RBC

The bank believes working with the lifestyle brand will help promote its entrepreneurship efforts and attract more younger customers.

strategyonline.ca

Sobeys builds on Special Olympics partnership

The grocery retailer rolls out a two-week effort to raise $1 million dollars for communities across the country.

strategyonline.ca