Federal officials say they’re pushing manufacturers to accelerate shipments of more COVID-19 vaccine doses as calls grow to lock down more parts of the country for the holidays.
Prime Minister Justin Trudeau said Canada is running ahead of schedule in its vaccine rollout, which is set to ramp up next month with scheduled deliveries of 125,000 Pfizer-BioNTech doses per week, for a total of 500,000 doses in January.
Trudeau told reporters that 200,000 doses of the Pfizer-BioNTech vaccine will arrive next week. And pending Health Canada approval, he said 168,000 doses of Moderna’s vaccine candidate will be shipped by the end of the year.
The federal government is also investing about $9 million through the National Research Council of Canada to support the development of treatments for COVID-19 and other viral infections, Trudeau said. The funding will go to four Canadian companies working on therapies, including two in Montreal and two in Vancouver.
But even as Canada’s immunization campaign steams ahead, Trudeau warned that vaccines won’t reach the broader population fast enough for a Christmas miracle, urging Canadians to limit the size of their holiday celebrations.
“As much as many of us want to see our loved ones this Christmas … we also want to be able to see them and give them big hugs next Christmas.”
Procurement Minister Anita Anand said Friday that Canada is on track to receive 255,000 doses from Pfizer-BioNTech in December, up from an expected 249,000 doses.
“In the last two weeks, Canada has aggressively pursued, negotiated, received and administered early doses of the very first COVID 19 vaccine in this country,” Anand told a news conference.
“We are in constant contact with our suppliers, and these increased numbers reflect our negotiations.”
Massachusetts-based biotech firm Moderna also revealed that its COVID-19 vaccine candidate, which is expected to soon be authorized in Canada and the U.S., can now be shipped without it needing to be frozen.
The development looks to ease the logistics of getting the vaccine to remote locations, a Moderna spokeswoman said.
Previously, it was believed the vaccine had to remain frozen to at least -20 C until shortly before use, but the company said it can now safely transport liquid doses as refrigerated at between 2 C and 8 C.
But Anand noted that the new requirements don’t apply to vaccine storage, saying the government is still working to procure freezers to store them once they arrive at their destination, when Health Canada gives the regulatory all-clear.
Dr. Theresa Tam, Canada’s chief public health officer, also said Friday that health-care workers should check Pfizer-BioNTech vaccine vials for extra doses before throwing them out.
Tam said the manufacturer has confirmed that some vials contain more than the five doses of 0.3 ml indicated on the label.
She said this excess provides a “buffer zone” to account for potential losses that can occur during storage, preparation and injection of the vaccine.
“I haven’t got on-the-ground information as to whether someone is able to get six versus five doses,” she said. “But the bottom line is don’t throw it away after five doses … check to see if there’s another dose.”
Tam said Canada’s COVID-19 caseload continues to rise, with an average of more than 6,650 infections reported daily over the past seven days.
The number of people experiencing severe illness is also on the rise, she said, with an average of 4,000 patients being treated in hospital over the past week, including 650 in critical care and 115 deaths reported each day.
Tam said the rapid spread of the virus continues apace in many parts of the country, and she worries the holiday season will only accelerate that trajectory.
“I believe that in many areas of the country, stricter measures should be put in place as soon as possible,” she said.
Ontario is set to reveal new measures Monday as the province extended its lockdowns in two COVID-19 hotspots.
Premier Doug Ford said Friday that restrictions set to expire next week in Toronto and Peel Region will remain in place, and his government will contemplate new measures during emergency talks on COVID-19 this weekend.
Ontario reported 2,290 new cases of COVID-19 on Friday and 40 new deaths due to the virus.
– with files from Mia Rabson
This report by The Canadian Press was first published Dec. 18, 2020.
MONTREAL – Travel company Transat AT Inc. reported a loss in its latest quarter compared with a profit a year earlier as its revenue edged lower.
The parent company of Air Transat says it lost $39.9 million or $1.03 per diluted share in its quarter ended July 31.
The result compared with a profit of $57.3 million or $1.49 per diluted share a year earlier.
Revenue in what was the company’s third quarter totalled $736.2 million, down from $746.3 million in the same quarter last year.
On an adjusted basis, Transat says it lost $1.10 per share in its latest quarter compared with an adjusted profit of $1.10 per share a year earlier.
Transat chief executive Annick Guérard says demand for leisure travel remains healthy, as evidenced by higher traffic, but consumers are increasingly price conscious given the current economic uncertainty.
This report by The Canadian Press was first published Sept. 12, 2024.
Dollarama Inc.’s food aisles may have expanded far beyond sweet treats or piles of gum by the checkout counter in recent years, but its chief executive maintains his company is “not in the grocery business,” even if it’s keeping an eye on the sector.
“It’s just one small part of our store,” Neil Rossy told analysts on a Wednesday call, where he was questioned about the company’s food merchandise and rivals playing in the same space.
“We will keep an eye on all retailers — like all retailers keep an eye on us — to make sure that we’re competitive and we understand what’s out there.”
Over the last decade and as consumers have more recently sought deals, Dollarama’s food merchandise has expanded to include bread and pantry staples like cereal, rice and pasta sold at prices on par or below supermarkets.
However, the competition in the discount segment of the market Dollarama operates in intensified recently when the country’s biggest grocery chain began piloting a new ultra-discount store.
The No Name stores being tested by Loblaw Cos. Ltd. in Windsor, St. Catharines and Brockville, Ont., are billed as 20 per cent cheaper than discount retail competitors including No Frills. The grocery giant is able to offer such cost savings by relying on a smaller store footprint, fewer chilled products and a hearty range of No Name merchandise.
Though Rossy brushed off notions that his company is a supermarket challenger, grocers aren’t off his radar.
“All retailers in Canada are realistic about the fact that everyone is everyone’s competition on any given item or category,” he said.
Rossy declined to reveal how much of the chain’s sales would overlap with Loblaw or the food category, arguing the vast variety of items Dollarama sells is its strength rather than its grocery products alone.
“What makes Dollarama Dollarama is a very wide assortment of different departments that somewhat represent the old five-and-dime local convenience store,” he said.
The breadth of Dollarama’s offerings helped carry the company to a second-quarter profit of $285.9 million, up from $245.8 million in the same quarter last year as its sales rose 7.4 per cent.
The retailer said Wednesday the profit amounted to $1.02 per diluted share for the 13-week period ended July 28, up from 86 cents per diluted share a year earlier.
The period the quarter covers includes the start of summer, when Rossy said the weather was “terrible.”
“The weather got slightly better towards the end of the summer and our sales certainly increased, but not enough to make up for the season’s horrible start,” he said.
Sales totalled $1.56 billion for the quarter, up from $1.46 billion in the same quarter last year.
Comparable store sales, a key metric for retailers, increased 4.7 per cent, while the average transaction was down2.2 per cent and traffic was up seven per cent, RBC analyst Irene Nattel pointed out.
She told investors in a note that the numbers reflect “solid demand as cautious consumers focus on core consumables and everyday essentials.”
Analysts have attributed such behaviour to interest rates that have been slow to drop and high prices of key consumer goods, which are weighing on household budgets.
To cope, many Canadians have spent more time seeking deals, trading down to more affordable brands and forgoing small luxuries they would treat themselves to in better economic times.
“When people feel squeezed, they tend to shy away from discretionary, focus on the basics,” Rossy said. “When people are feeling good about their wallet, they tend to be more lax about the basics and more willing to spend on discretionary.”
The current economic situation has drawn in not just the average Canadian looking to save a buck or two, but also wealthier consumers.
“When the entire economy is feeling slightly squeezed, we get more consumers who might not have to or want to shop at a Dollarama generally or who enjoy shopping at a Dollarama but have the luxury of not having to worry about the price in some other store that they happen to be standing in that has those goods,” Rossy said.
“Well, when times are tougher, they’ll consider the extra five minutes to go to the store next door.”
This report by The Canadian Press was first published Sept. 11, 2024.
TORONTO – The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers to consumer reporting companies.
The agency says TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$20 million civil penalty.
It says TD shared information that contained systemic errors about credit card and bank deposit accounts to consumer reporting companies, which can include credit reports as well as screening reports for tenants and employees and other background checks.
CFPB director Rohit Chopra says in a statement that TD threatened the consumer reports of customers with fraudulent information then “barely lifted a finger to fix it,” and that regulators will need to “focus major attention” on TD Bank to change its course.
TD says in a statement it self-identified these issues and proactively worked to improve its practices, and that it is committed to delivering on its responsibilities to its customers.
The bank also faces scrutiny in the U.S. over its anti-money laundering program where it expects to pay more than US$3 billion in monetary penalties to resolve.
This report by The Canadian Press was first published Sept. 11, 2024.
