Business

900 Metro employees in Etobicoke to go on strike – CP24 Toronto's Breaking News

Published

3 years ago

April 2, 2022

More than 900 Metro warehouse workers are on strike after rejecting a tentative agreement with the company.

According to a news release issued Saturday, the full-time employees work at a distribution centre in Etobicoke that supplies products to grocery stores across southern Ontario.

The workers have been without a contract since October 2021, officials say.

A tentative agreement between the union—Unifor Local 414—and Metro was reached on April 1, but on the following day members chose not to ratify it.

The details of the collective agreement were not released, however a union representative previously said employees were hoping that their hard work throughout the pandemic would be reflected in “wages, pensions and benefits.”

“The members have final say on the tentative agreement and have opted to turn down this offer,” Unifor Assistant to the National President Chris MacDonald said in a statement.

“The bargaining committee is ready to resume negotiations in the hope of bringing this strike to a speedy end.”

Metro Ontario Inc. said in a statement that it is disappointed with the employees’ decision to strike considering the fact that the union bargaining committee unanimously recommended the settlement.

“The settlement provided significant increases for employees, including an increase of six per cent on average to hourly wages in the first year of the agreement and a total of 14 per cent wage increase over four years as well as pension and benefits improvements,” a spokesperson said while adding the company is ready to go back to the table.

“We have implemented our contingency plan and our stores will remain open to serve our customers”

Last week, workers voted 99 per cent in favour of a strike mandate if a collective agreement was not reached by April.

Adblock test (Why?)

Source link

Business

Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

Published

21 hours ago

November 6, 2024

Anne Joseph

TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

Source link

Business

Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

Source link

Business

Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

Published

2 days ago

November 5, 2024

Anne Joseph

ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

Source link