Freshii shares down on earnings miss - Canadanewsmedia
Connect with us

Business

Freshii shares down on earnings miss

Published

on


Freshii share prices tumbled almost 10 per cent in early afternoon trading as the Toronto-based restaurant chain missed earnings expectations for the second quarter.

The Toronto-based company, which reports in U.S. dollars, saw net income nudge into the black at $298,000 in the latest quarter, compared to a loss of $383,000 in the second quarter of 2017.

Adjusted net income inched up to three cents per share, falling short of analysts' expectations for four cents per share, according to Thomson Reuters Eikon.

Total revenue jumped 29 per cent to $10.4 million, the vast majority coming from franchise food and beverage sales as the health-oriented chain continued its expansion strategy across nearly two-dozen countries.

Shares in the company were down 61 cents at $5.72 per share on the Toronto Stock Exchange a day after it reported second-quarter earnings.

The company says it expects up to $285 million in sales from as many as 760 stores within the next year or so, a big leap from its current count of between 400 and 500 locations.

Freshii fare is on offer on hundreds of Air Canada flights daily, part of an "omni-channel" plan that also aims to install about two-dozen branded coolers in Shell Canada Ltd. stations later this month.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Musk Defends Relentless Work Hours as Tesla Enters Fateful Week

Published

on

By



Terms of Service Violation


Your usage has been flagged as a violation of our terms of service.

For inquiries related to this message please contact support.
For sales
inquiries, please visit http://www.bloomberg.com/professional/request-demo

If you believe this to be in error, please confirm below that you are not a robot by clicking “I’m not a robot”
below.

Please make sure your browser supports JavaScript and cookies and
that you are not blocking them from loading. For more information you can review the Terms of Service and Cookie
Policy.

Block reference ID:

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Several anti-pipeline protesters released from BC jail days before week-long sentences end

Published

on

By


Several pipeline protesters were released from a British Columbia jail on Sunday, a few days before their week-long sentences were set to end.

Seven protesters in all were sentenced to a week-long jail term on Aug. 15, after pleading guilty to contempt charges in B.C. Supreme Court.

Five who were released on Sunday issued a joint statement, saying they were imprisoned because of their opposition to the Trans Mountain pipeline expansion.

Story continues below advertisement

In the statement, the five women – who include anti-poverty activist and Order of Canada recipient Jean Swanson – said they are not criminals, but “political prisoners.”

Swanson said in a phone interview that her four days spent at the Alouette Correctional Centre for Women in Maple Ridge, B.C., had not deterred her in what she said is a fight against climate change.

“I don’t know how anyone can look at the sky in Vancouver today and say global warming is not an issue,” said Swanson, in reference to the smoke and particulate matter from wildfires hazing the skies in southwestern B.C.

“We need to do something, we need to stop the insanity.”

From her perspective as an anti-poverty advocate, Swanson said the Trans Mountain pipeline ties the issues of homelessness, poverty and climate change together.

“For all those billions and billions of dollars, governments could actually create jobs building renewable energy…. Governments could end homelessness, they could put clean and safe water on Indigenous reserves.”

In May, the federal government announced its intent to acquire Trans Mountain from Kinder Morgan Canada.

Story continues below advertisement

Story continues below advertisement

According to recent documents filed with the U.S. Security and Exchange Commission, the sale could cost as much as $1.9-billion more than the initial quote of $4.5-billion.

The documents also suggest the project could take another 12 months to finish.

More than 200 activists have been arrested for demonstrations against the Trans Mountain project since March.

Those released on Sunday also included former B.C. Teachers’ Federation president Susan Lambert.

Let’s block ads! (Why?)



Source link

Continue Reading

Business

Online pot sales will leave a lot of information at risk, say experts

Published

on

By


TORONTO — Buyers who have to provide personal information to purchase recreational pot online after legalization this fall should be able to rely on existing laws to protect their privacy but the issue needs to be watched closely to ensure regulations are obeyed and mistakes are avoided, experts say.

The matter is important given the stigma many people still attach to marijuana use, and the potential for Canadians to be barred from the United States if their otherwise legal indulgence becomes known to American border agents.

“We need to keep eyes on it, meaning we have to make sure this information is not abused or used for secondary purposes that were never intended,” Ann Cavoukian, Ontario’s former privacy commissioner and now an expert at Ryerson University, said in an interview. “Theoretically, it should not be used for any other purpose.”

A spokesperson for federal Privacy Commissioner Daniel Therrien said the office had not looked specifically at online marijuana sales. At the same time, the commission said it recognized privacy concerns around buying or using marijuana given its longtime status as a controlled substance.

“The legal sale and use of both medicinal and recreational marijuana raises privacy issues, particularly since laws and regulations differ from country to country and even within countries,” Tobi Cohen said. “We have repeatedly raised concerns about the effectiveness of (Canada’s two privacy laws) in the digital age and have called for both laws to be strengthened.”

Last week, Ontario’s new Progressive Conservative government announced that consumers 19 years or older will have to go online to buy weed after legalization federally on Oct. 17 because private retail stores won’t be up and running until April. A government agency called the Ontario Cannabis Store will run the online sales, although private e-commerce provider Shopify will be involved.

Online buyers will, at minimum, have to provide a name along with email and delivery address, and payment information. In Ontario, as is currently the case with online alcohol sales, buyers will be able to order as a “guest” without creating an online account.

However, Scott Blodgett, a spokesperson for the Ministry of Finance, said buyers will have to provide proof of age via government-issued ID, which a delivery person will verify but not copy. The cannabis store website will have data security and privacy controls “aligned with global e-commerce best practice,” he said.

Personal data will remain in Canada and not be shared with third parties, Blodgett said.

Ontario’s Privacy Commissioner Brian Beamish was unavailable to discuss the issue but his office said in a statement that public institutions are accountable for the information they collect.

Let’s block ads! (Why?)



Source link

Continue Reading

Trending

Copyright © 2018 Canada News Media

%d bloggers like this: