La Maison Simons is bringing in outside investors for the first time in its storied history, striking deals with two public-sector allies that will help fund a new distribution centre key to its growth strategy as it confronts an unforgiving retail environment. The Quebec City-based clothing store chain, believed to be the oldest privately owned family business in the country at 178 years, is opening its share capital to the Caisse de dépôt et placement du Québec and Investissement Québec after weeks of talks with potential partners. Simons announced details of the agreements on Tuesday. “This isn’t a rescue; this is an investment,” company chief executive officer Peter Simons said in explaining his choice of partners. “It’s an investment in a business that right now is firing on all four cylinders. We’re excited about what we’ve built.”
ndigo Books & Music Inc. (IDG.TO) says it earned $21.8 million last year in an improvement from a year earlier but below analyst expectations. The net income for the year ending March 31, amounting to 81 cents per share, was up from $20.9 million or 79 cents per share a year earlier, as total revenue increased by 5.8 per cent and comparable sales increased by 6.2 per cent. Earnings were, however, lower than the estimate of $28.66 million by analysts, according to Thomson Reuters Eikon...
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