Luxury parka maker Canada Goose Holdings Inc. slashed expected revenue growth for the year due to “material negative impact” from the new coronavirus outbreak.
“The health crisis has resulted in a sharp decline in customer traffic and purchasing activity,” the company said in a statement as it released its third-quarter financial results. “Retail stores and e-commerce across Greater China have and continue to experience significant reductions in revenue.”
Global travel disruptions have also affected retail stores in international shopping destinations in North America and Europe, the company said, adding there have not been supply chain interruptions.
“The company believes that this is a temporary change in consumer behaviour due to health precautions in extraordinary circumstances,” it said.
“However, the extent and duration of the disruptions remain uncertain and prolonged disruptions may also negatively impact future fiscal periods.”
Canada Goose now expects annual revenue for its 2020 financial year to grow between 13.8 per cent and 15 per cent — down from the earlier expected figure of at least 20 per cent. That translates to expected revenue of between $945 million and $955 million.
Coronavirus originated in Wuhan, China. In late January, the World Health Organization declared it a global health emergency.
There are now at least 31,211 confirmed cases in China and 637 deaths, according to the WHO. Beyond China’s borders, there are 270 confirmed cases in 24 countries, and one death. There are several confirmed cases in Canada — situated in Ontario and B.C.
Canada Goose has 21 stores, according to its website, including one each in Beijing, Shenyang, and Shanghai, China, as well as two in Hong Kong. It also operates locations in London, Tokyo, Milan and Paris, as well as several in Canada and the U.S.
The revised outlook came as the company reported its third-quarter financial results.
Canada Goose had a net income of $118 million, or $1.07 per diluted share, up from $103.4 million or 93 cents for the same quarter last year. Adjusted net income for the quarter ending Dec. 29 was $119.7 million, or $1.08 per share, up from $107.2 million or 96 cents per share last year.
Revenue came in at $452.1 million, up from $399.3 million for the same quarter last year.
Analysts had expected revenue of $448.2 million and adjusted net income of $1.07 per share according to financial markets data firm Refinitiv.
Canada Goose’s shares were down $1.68 or 3.8 per cent at $42.47 in midday trading on the Toronto Stock Exchange.
This report by The Canadian Press was first published Feb. 7, 2020.
Prime Minister travelling to Quebec’s Gaspé Peninsula today
Trudeau is there to continue the summer meet and greets he started in July in other parts of Canada.
His planned events include visits to a farm, wind farm and a train retrofitting plant in New Richmond.
Trudeau’s last stop in the region came when he was in full pre-campaign mode just one month before he called a federal election.
This visit comes as the provincial government is set to go into an election where the future of French is sure to play a big role.
On Wednesday, new census data showed Gaspé to be the only region in the province where the share of people claiming French as their first language grew in the last five years.
This report by The Canadian Press was first published Aug. 18, 2022.
The Canadian Press
80 years after Dieppe, postcards share stories of soldiers who died in deadly raid
Paris Eakins was 26 years old when he joined the Royal Canadian Air Force in November 1940 during the Second World War.
He was born in Minnedosa, Man., where he lived until he attended the University of Manitoba, graduating with a bachelor of arts degree. Eakins worked at his town’s newspaper and went on to join the sports department at the Winnipeg Free Press.
After he enlisted, Eakins worked his way to become a pilot officer in a fighter squadron based in England in 1941. The next year, he was killed in northern France during the disastrous Dieppe Raid. He was 27.
Eakins’ story is featured in a Canadian postcard campaign ahead of the 80th anniversary of the raid on Friday.
The Juno Beach Centre Association has sent 400 unique postcards to addresses across the country that share the name and fate of a serviceman whose records show once lived in those places.
“(We) encourage people to take a moment to consider the anniversary, to consider what happened to this individual who lived in their home or very nearby to them, 80 or more years ago,” said Alex Fitzgerald-Black, the association’s director.
The Dieppe Raid, known as Operation Jubilee, on Aug. 19, 1942, was the Canadian Army’s first major combat against Nazi Germany.
Canadian and British troops landed on beaches near the German-occupied French port with a mission to capture the town, destroy the port facilities and return to England with information that could give them an advantage.
Instead, the raid backfired and Operation Jubilee became Canada’s bloodiest day of the Second World War.
“It was the Canadian Army’s baptism of fire against Nazi Germany during the war. Unfortunately, it was a deadly failure,” said Fitzgerald-Black.
About 5,000 Canadian soldiers took part in the raid. In less than 10 hours of fighting, more than 800 died, with about 100 more later succumbing to their injuries. About another 2,000 became prisoners of war.
Preparations for the postcard campaign began at the end of last year. Employees and volunteers at the association went through the service files of those who were killed to see if they could link their old home addresses to a current one.
They were able to develop a list of addresses for half of those who died. The list skews toward addresses in urban settings because those who were from rural areas couldn’t be reproduced, said Fitzgerald-Black. Many went to cities in southern Ontario, as well as Montreal and Winnipeg.
The association also produced a temporary exhibition honouring the anniversary in Normandy, France.
A delegation of federal ministers, veterans, representatives of veterans and Indigenous organizations, and members of the Canadian Armed Forces travelled to France this week to take part in events marking the anniversary.
Three of the veterans participating served in the Second World War, including a survivor of the raid.
“It’s vitally important that we continue to recognize and honour the extraordinary service and sacrifice witnessed 80 years ago on the beaches of Dieppe,” Lawrence MacAulay, minister of veterans affairs, said in a release.
“As the living memory of this seminal moment fades, we as Canadians must ensure that the legacy of those who served Canada is never forgotten.”
Stories like Eakins’ have made an impression on Fitzgerald-Black.
He hopes the postcard project will help Canadians remember the people who died serving their country and those who survived.
“They’re not going to be around much longer to share these stories — the stories of their comrades who were killed during the raid,” he said.
“And so we hope that Canadians will continue to take up the torch to do this into the future.”
This report by The Canadian Press was first published Aug. 18, 2022.
Brittany Hobson, The Canadian Press
Census data shows linguistic diversity on the rise in Canada – Saanich News
A growing number of new immigrants to Canada are bringing with them increasingly diverse languages, setting a record for the number of Canadians whose mother tongue is neither English nor French, new 2021 census data reveals.
One in four people in Canada have a mother tongue other than English or French, and about 12 per cent of people predominantly speak a non-official language at home as of last year.
Proficiency in those languages tends to fade after a generation or two, however, Statistics Canada’s deputy head of the Centre for Demography said Wednesday.
“From 2016 to 2021, the number of Canadians who predominantly speak languages other than English and French at home grew significantly,” said Éric Caron-Malenfant at a media briefing.
The trend is mainly driven by immigration, and continued even during the pandemic when immigration slowed considerably due to COVID-19 health restrictions and related backlogs, Caron-Malenfant said.
The average age of new immigrants is typically between 25 and 35, he said.
“After that, when you have children in Canada, often more and more English and French will be spoken at home,” he said.
British Columbia speech-language pathologist June Cheung noticed that phenomenon play out in her own Cantonese-speaking family and community when she was growing up in Edmonton.
“My parents were the ones who originally immigrated here from Hong Kong whereas my siblings and I, we were all born here,” Cheung said in an interview.
“My parents would speak to my older brothers and myself in Chinese but often we would reply in English.”
The generational language shift inspired her masters thesis, which further showed how “heritage” language proficiency fades with each generation.
“By the time the second generation has kids, it’s very unlikely that they’ll choose to use a heritage language,” she said.
The trend was also true for French-speaking families outside of Quebec in most provinces, the census data shows.
The proportion of Canadians living outside Quebec whose first official language spoken is French was down to 3.3 per cent in 2021 from 3.6 per cent in 2016.
Statistics Canada attributes the decline to the fact that people whose first official language is French tend to be older, and haven’t consistently passed the language on to the next generation. Sometimes other languages can take over inside the home.
Cheung, who says she’s reinvested in her Cantonese-speaking skills, says fading language proficiency can create intergenerational divides.
“I can ask you where the bathroom is, versus being able to talk about your hopes and fears, your dreams,” she said. “It’s a lot harder to have those conversations sometimes if there is that language barrier.”
Mandarin and Punjabi are the most common non-official languages, with more than a million people predominantly speaking one of the two languages.
Statistics Canada noted a large increase in the growth of the number of Canadians who predominantly speak South Asian languages such as Punjabi, Gujarati, Hindi or Malayalam since the last census in 2016, a rise which was fuelled by immigration.
The growth rate of the population speaking South Asian languages was at least eight times greater than that of the overall Canadian population during the same period.
The massive increase in the growth of South Asian languages closely aligns with immigration trends from those countries.
At the same time, European languages like Italian, Polish and Greek are fading in Canada.
“This decline is primarily linked to the speakers of these languages aging, a significant proportion of whom emigrated to Canada before 1980,” Caron-Malenfant said.
Relatively few recent immigrants from those countries have recently landed in Canada, he said.
Regardless of their mother tongue, most people in Canada access services in one of the two official languages.
English and French are still by far the most common languages spoken in Canada and 90 per cent of Canadians speak at least one of the official languages.
—Laura Osman, The Canadian Press
Extreme heat is slamming the world's three biggest economies all at once – CNN
How does monkeypox spread? Here's what scientists know so far – CBC News
Prime Minister travelling to Quebec’s Gaspé Peninsula today
Silver investment demand jumped 12% in 2019
Europe kicks off vaccination programs | All media content | DW | 27.12.2020 – Deutsche Welle
Global Media Markets, 2015-2020, 2020-2025F, 2030F – TV and Radio Broadcasting, Film and Music, Information Services, Web Content, Search Portals And Social Media, Print Media, & Cable – GlobeNewswire
Sports7 hours ago
Czechia pulls off major upset over U.S., advances to WJC semifinal vs. Canada – Sportsnet.ca
Sports17 hours ago
Toronto Argonauts rule running back Andrew Harris out for season – 3downnation.com
Media24 hours ago
What The Results Of 32 Studies Teach Us About Parenting In The Age Of Social Media – Forbes
Media23 hours ago
Media Release – August 17, 2022 – Guelph Police – Guelph Police Service
Politics23 hours ago
Politics Briefing: Trudeau says approval of U.S. Inflation Reduction Act 'is good news for Canadians' – The Globe and Mail
Politics22 hours ago
Afghans are suffering and dying while Canada plays politics, says aid worker – CBC.ca
Tech18 hours ago
Google's Android 13 statue swings its way to the Mountain View campus – Android Central
Tech20 hours ago
Apple reportedly plans iPhone and Apple Watch event for September 7th – Ars Technica