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DiTommaso's store sells most Smile Cookies – Sault Star

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Ryan DiTommaso, his wife Sara, and son Rhett, celebrate Tim Hortons in Dunnville, Ont., selling the most Smile Cookies in Canada for a third consecutive year. SUPPLIED

A Sault Ste. Marie native helms the Tim Hortons that’s sold the most Smile Cookies in Canada for three consecutive years.

Ryan DiTommaso has owned the Broad Street East location in Dunnville, about 60 kilometres southeast of Hamilton, since late 2017. The White Pines Collegiate and Vocational School graduate has worked at Tim Hortons for more than a decade, starting his career with the company in the Sault.

His location sold a whopping 62,889 Smile Cookies during the annual national fundraising campaign for charities that ran Sept. 14-20. That’s nearly 50 per cent more cookies than the 42,879 sold in 2019 and not too far away from triple the sales of 22,748 in 2018. All proceeds go to charity.

The whole community rallies behind the cause,” DiTommaso told The Sault Star.

Customers buying cookies for their families and friends, businesses picking up “hundreds” of treats for their employees or the community’s long-term care home, former Dunnville residents calling up contacts asking for cookies to be bought for them all helped drive sales, said DiTommaso. Even neighbouring eateries were encouraging the community’s residents to buy cookies at Tim Hortons.

That’s how serious people are about buying cookies and defending that title,” said DiTommaso.

Dunnville has a population of about 5,800. DiTommaso’s goal this year was sales of 50,000.

Many of the great ideas and processes that we used in Sault Ste. Marie during Smile Cookie in past years were brought to our stores in the south where they were tuned and adjusted by my hardworking team of manager and staff members,” said DiTommaso in an email to The Sault Star. “The outcome of this hard work resulted in the unbelievable numbers we were able to sell.”

A challenge from neighbouring Binbrook, Ont., for the title of top cookie seller also helped spur sales.

It really peeved people off,” said DiTommaso. “Dunnville just wanted it bad. They weren’t going to let Binbrook take it from us.”

Tim Hortons in Binbrook still earned plaudits for its efforts selling more than 35,000 cookies for Employment Squared.

Smart Cookie proceeds from the Dunnville location have supported Dunnville Hospital and Healthcare Foundation “for many years,” said DiTommaso.

I know my entire team, as well as the many volunteers and members of the foundation, worked hard and the entire community rallied and went the extra mile when they heard we could be No. 1,” he said. “It is all in good fun and in the end for a great cause.”

DiTommaso is also “very proud” his fellow Tim Hortons owners in the Sault raised more than $50,000 in Smile Cookie sales to help Algoma Residential Community Hospice and Twinkie Foundation.

The Dunnville Hospital Foundation, similar to ARCH and Twinkie Foundation, are organizations that the community values and wants to support,” said DiTommaso. “Buying Smile Cookies really helps these great community organizations continue to do the great work they do which is a reason why I believe both communities are so successful with the program.”

He managed Tim Hortons on Second Line West at Farwell Terrace then became general manager at that site and Great Northern Road at Second Line East. DiTommaso then became a franchisee with his sister, Ashleigh MacLeod, of Tim Hortons on Great Northern Road near Third Line East. The siblings also own a Tim Hortons in Smithville, about 30 kilometres north of Dunnville.

Nationally, Smile Cookie sales set a new record with $10.6 million raised this year for charities compared to $9.8 million in 2019.

btkelly@postmedia.com

On Twitter: @Saultreporter

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Japan’s SoftBank returns to profit after gains at Vision Fund and other investments

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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.

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Yuri Kageyama is on X:

The Canadian Press. All rights reserved.

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Trump campaign promises unlikely to harm entrepreneurship: Shopify CFO

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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.

Companies in this story: (TSX:SHOP)

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RioCan cuts nearly 10 per cent staff in efficiency push as condo market slows

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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.

Companies in this story: (TSX:REI.UN)

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