It was the last Saturday before Christmas, and all through the malls there were lots of people stirring about.
Business
Malls packed with last-minute shopping madness – Ottawa Citizen
Shoppers trundle about at the Tanger Outlets mall in Ottawa’s west end on Saturday.
Downtown shops and city shopping malls were packed with the predictable holiday hordes Saturday, with shoppers gripping their lists and checking them twice amid the last-minute madness.
But, above all the bustle, those weren’t silver bells, but rather cash register drawers that were jingling all the way.
Ottawa mall parking lots made for perhaps the most precarious parts of the trek, with the goodwill of the season the first thing to fly out windows with available spots in short supply.
Christmas shoppers at the Tanger Outlets mall in Kanata on Saturday.
Ashley Fraser /
Postmedia
A (slightly) more organized sort of chaos awaited indoors, as people laden with all manner of parcels darted in and out of shops, fuelled up at food courts and kept track of bored children while strategically avoiding the paths that would take them past the mall Santa and frantically texting friends and family to ensure no one else got Grampa the exact same sweater priced at 40 per cent off.
Thankfully, no serious incidents were reported.
Stay safe Ottawa.
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MTY Food Group Inc. says its profit and revenue both slid in its most recent quarter.
The restaurant franchisor and operator says its net income attributable to owners totalled $34.9 million in its third quarter, compared with $38.9 million a year earlier.
The results for the period ended Aug. 31 amounted to $1.46 per diluted share, down from $1.59 per diluted share a year prior.
The company behind 90 brands including Manchu Wok and Mr. Sub attributed the fall to impairment charges on property, plants and equipment along with intangibles assets.
Its revenue decreased slightly to $292.8 million in the quarter from $298 million a year ago.
While CEO Eric Lefebvre saw the quarter as a sign that the company’s ongoing restructuring is starting to bear fruits, he said the business was also hampered by significant delays in construction and permitting that resulted in fewer locations opening.
This report by The Canadian Press was first published Oct. 11, 2024.
Companies in this story: (TSX:MTY)
The Canadian Press. All rights reserved.
Taiga Motors Corp. says the Superior Court of Québec has approved its sale to a British electric boat entrepreneur.
The Montreal-based maker of snowmobiles and watercraft says it will be purchased by Stewart Wilkinson.
Wilkinson’s family office is behind marine electrification brands that include Vita, Evoy, and Aqua superPower.
Wilkinson and Taiga did not reveal the terms or value of the deal but say Wilkinson will assume Taiga’s debt to Export Development Canada and has committed to funding Taiga’s business plan.
The companies say the transaction will allow them to achieve greater economies of scale and deliver high-performance products at compelling prices to accelerate the electric transition.
The sale comes months after Taiga sought bankruptcy protection under the Companies’ Creditors Arrangement Act to cope with a cash crunch.
This report by The Canadian Press was first published Oct. 11, 2024.
Companies in this story: (TSX:TAIG)
The Canadian Press. All rights reserved.
Toronto-Dominion Bank is facing fines totalling about US$3.09 billion from U.S. regulators in connection with failures of its anti-money laundering safeguards.
The bank also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller of the Currency that put limits on its growth in the U.S. after it was found that TD had “significant, systemic breakdowns in its transaction monitoring program.”
More coming.
Companies in this story: (TSX:TD)
The Canadian Press. All rights reserved.
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