TORONTO – Quebecers who have spent the summer missing the Goliath’s 170-foot drops are in luck.
The sky-high ride was among more than 40 attractions in operation this weekend as Six Flags Entertainment Corp. reopened its La Ronde amusement park in Montreal following a months-long closure to stop the spread of COVID-19.
But the park – and a handful of its counterparts across Canada – are looking a lot different these days as operators unveil a slew of measures meant to keep guests safe.
“There used to be thousands and thousands of people walking around, huge lineups and crowds and all that, but this is not what you will see when you get to La Ronde because this is a new reality,” said spokesperson Karina Thevenin.
La Ronde opened in preview mode on Saturday and Sunday, along with this coming Friday. It will host a few exclusive days for members and seasons pass holders on Aug. 1 and 2 before welcoming the general public.
La Ronde has rolled out a new online reservation systems that helps it restrict capacity and stagger entry times, so guests can easily physically distance.
When they arrive, guests are asked to don a mask and to step through a thermal imaging system that will measure body temperature and help the park weed out guests who may have COVID-19 symptoms.
While queuing for rides, guests will see footprints and markers on the ground, helping them to keep six feet or more apart, and rides will also have seats blocked off to aid with physical distancing.
While the Fuji-Q Highland amusement park near Tokyo has asked guests to “scream inside your heart” and not out loud to stop the spread of COVID-19, Thevenin said guests are free to make noise as long as they are wearing a mask.
“I tried a roller coaster with a mask on and it works just fine,” Thevenin said. “I was screaming to my heart’s content.”
Meanwhile, Calaway Park in Calgary has kept six high-velocity rides, including Vortex, Ocean Motion, Free Fallin’ and Wave Rider, closed to stop the spread of droplets.
Out of 32 rides, 26 have reopened and six – Dodgem, Storm, Air Gliders, Bumble Blast, Sky Wynder and Dream Machine – require guests to wear a mask, said Bob Williams, the park’s general manager.
Calaway also upped its sanitizations, so rides are cleaned after every cycle, and staff wear face masks and sometimes, also shields.
Calaway settled on what COVID-19 precautions to take at the park by conferring with public health officials and consulting with other theme parks, though few have reopened in Canada.
Canada’s Wonderland, just outside Toronto in Vaughan, and Galaxyland at the West Edmonton Mall both remain closed.
Over in Cavendish, P.E.I, the Sandspit Amusement Park has been open since June 26 with increased precautions and an approach “like a barbeque where you start low and go slow,” said Matthew Jelley, the president of Sandspit operator, Maritime Fun Group.
The park is operating at about 15 per cent capacity, but it took at least 10 days for it to attract even that many guests, he said.
Instead of charging guests who wanted to go on rides and letting the rest in free, Jelley said everyone must now pay admission.
It was a hard choice to make, but one that was necessary because the park has 365 days of expenses even though it isn’t welcoming guests year-round, he added.
It’s a reality Shelley Frost, chief executive of Playland-operator Pacific North Exhibition, knows well.
The Vancouver park, she said, wasn’t able to accommodate end-of-school or graduation parties and had to open on July 17, far later than it usually would.
“We do about $60 million a year between the fair and our year-round events like concerts and festivals and we already have a confirmed loss of about $52 million of that, so we’ve been doing a lot of layoffs and austerity measures,” said Frost.
The park has yet to hit its reduced capacity rates, but guests are slowly returning to ride the Tea Cups, Sea to Sky Swinger and Bug Whirled.
The park will soon open bigger rides like a wooden roller coaster that Frost hopes will attract teens, but she is keeping her expectations muted.
“We were very excited to be able to be a little ray of hope for things getting close to being you being back to normal, but we are very cognizant of the fact that people are very different in terms of how comfortable they are.”
This report by The Canadian Press was first published July 26, 2020.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
