Dollarama Earnings: Enhanced Distribution Center Boosts Efficiency…
We are encouraged by Dollarama’s DOL announcement that it will build a new distribution center in Calgary by fiscal 2028. This should speed up store expansion in underpenetrated Western Canada and ease reliance on the traditional strongholds of Quebec and Ontario, where we see risks of saturation after 30 years of growth. Key Morningstar Metrics […]
Why Our Top Investment Opportunities for 2025 Lie Beyond Borders…
It’s already clear that investing conditions in 2025 will be very different from 2024. This year, US stocks once again outpaced the rest of the world, rising over 25%, fueled by the strong performance of stocks that benefit from the artificial intelligence boom and the prospect of lower interest rates. Yet, after the rally, US […]
Unemployment Spike Could Indicate Broader Bank of…
Canada’s November jobs report showed a sharp jump in jobless numbers, sparking concerns over the health of the domestic labor market and renewing calls for the Bank of Canada to make a larger rate cut. Canada added 51,000 jobs in November, the fastest pace in seven months excluding the pandemic, significantly outstripping the FactSet forecast […]
Lululemon Earnings: International Expansion Driving Growth…
Key Morningstar Metrics for Lululemon Athletica What We Thought of Lululemon Athletica’s Earnings Lululemon Athletica LULU shook off the troubles of 2024’s first half, posting third-quarter sales and earnings that surpassed our expectations. Although comparable sales fell 2% in the Americas (against 13% growth a year ago), there are reasons to be optimistic about upcoming […]
Gold’s Impressive Surge Continues – MINING.COM
Technically this past year’s surge remains an extraordinarily-large upleg within a bigger bull market. Bulls are defined as 20%+ gains off major lows. Within those usually-secular uptrends, smaller uplegs and corrections meander. Uplegs last until they are formally ended by 10%+ corrections, which sometimes cascade into 20%+ bear markets slaying bulls. Sub-10% selloffs within uplegs […]
TD Bank Reports Disappointing Earnings Driven by U.S. Operations
Toronto-Dominion Bank TD reported weaker-than-expected fiscal fourth-quarter results on higher costs as it works to put its regulatory issues in the US behind it. Adjusted net revenue increased 12.5% to C$14.9 billion while adjusted net income fell 8% from last year to C$3.2 billion. These results translate to a return on equity of 11.7%, below […]
CIBC Earnings: Improved Provisioning and Solid Performance…
Canadian Imperial Bank of Commerce CM reported decent fiscal fourth-quarter earnings largely in line with our expectations, with strong trading results and net interest income growth helping total revenue. Adjusted net income increased 24% from a year ago to C$1.9 billion. Adjusted earnings per share were C$1.91, up 22% year over year and down 1% […]
Bank of Montreal Earnings: Legal Reversal Impact
Bank of Montreal BMO reported better results than we expected, as the company benefited from a C$870 million reversal in a legal provision from 2022. However, excluding this one-time gain, the bank’s results were considerably less attractive, as elevated credit provisioning remains a headwind. Net revenue increased 7.7% from last year to C$8.96 billion, only […]
Understanding the Mechanics, Reasons, and Advantages of TFSAs
Many investors prioritize a tax-free savings account, or TFSA, over its considerably older tax-saving cousin, the registered retirement savings plan, or RRSP. While there is no tax deduction for TFSA contributions, nor a mandatory termination date (the RRSP’s is the end of the year in which you turn 71), no tax is payable when you […]
Mali Issues Arrest Warrant for Barrick CEO Over Tax Dispute – Report
The report follows the arrest of four employees from Barrick’s Loulo-Gounkoto mining complex in the West African country. Barrick stated that the company “will not be commenting” on the reported arrest warrant. The detention of foreign officials is becoming a pattern in Mali, as the government seeks to extract more revenue from the mining sector. […]