“At this time, 40 per cent of our revenue is generated outside the United States and we have already on hand almost half of the inventory we anticipate needing for this fiscal year.” (Financial Post)
That resilience is also reflected in “healthy” spending across all income levels Canadian Tire tracks and contributed to the company seeing an eight per cent spike in spending on essentials and a one per cent rise in purchases of discretionary goods — the first increase in this area in three years. (BNN Bloomberg)
“This combination with Sunoco provides Parkland’s shareholders with the highest value and the greatest proceeds, while also affirming Sunoco’s and Parkland commitment to Canada, a country that has played a vital role in our combined history,” said Parkland chief executive Bob Espey, who announced last month that he would step down before year-end. (BNN Bloomberg)
GameStop was one of the companies at the centre of the “meme stock” craze on Wall Street, which saw struggling brands’ share prices soar as retail investors made risky bets. (The Globe & Mail)
Dr. Ira Kalish, Chief Global Economist of Deloitte Touche Tohmatsu Ltd., is back on the podcast sharing his powerful insights on the changing global trade regimes, the economics of the Trump trade war, and its implications for retailers in advance of his opening keynote atRCCSTORE25.
Chinese factories, meanwhile, are halting production lines and furloughing workers, while sidelined goods are piling up in storage. The boss of one Chinese womenswear factory is trying to unload 180,000 pieces of clothing by livestreaming a massive sales event, broadcast from in front of shipping containers at a Shenzhen port. (Wall Street Journal)
The strike in late 2024 ended when the Canada Industrial Relations Board ordered the two sides back to work on Dec. 15. It also extended the collective agreements between the workers and their employer until May 22, which is what employees have been working under ever since. (CBC)
A few years ago, when a gigantic containership got stuck in the Suez Canal, lots of people suddenly found themselves captivated by supply-chain logistics. (Wall Street Journal)
“If you’re one of the millions of Americans whose job depends on cargo moving through the Port of Long Beach—our workers in longshore, truckers, logistics workers, retailers, farmers and factory workers—any sort of long-term sustained downturn in shipments caused by the tariff will be detrimental to the job market.” (Sourcing Journal)
RCC proudly celebrates the fourteen post-secondary students who will receive $3,000 each as part of the Retail Education Scholarship Program. In addition, four scholarship recipients will each receive a $5,000 specialty award, generously sponsored by Browns Shoes, Costco Wholesale Canada, JRoss Retail Recruiters, and Retail Council of Canada.
The winners of these awards will be announced at the Excellence in Retailing Awards Gala, on June 3, 2025, at the Toronto Congress Centre.
Coco Market is now in midtown, having recently opened the doors to a second location filled with the same wellness-focused curated finds. The health food store has been popular in Summerhill among residents, and will likely find a similar audience at their new Yonge and Eglinton location. (Streets of Toronto)
Videos shared to the 1117 Meats & Pantry Instagram account show the building transform into its current digs, creeping closer and closer to an official opening date. While the exterior of the building has stayed the same, the inside has been stripped down to the brick and features all new shelving, refrigeration, and other necessary appliances to run a store. (Blog.TO)
“There’s still a lot of affection for Target,” Saunders said. “But consumers are definitely spreading their spending around more thinly. They’re definitely diverting some of that spending from Target to other retailers.” (CNBC)
CEO Alexander Lacik told CNBC that current 10% levies on most U.S. imports were “manageable,” but he noted that if tariffs were to revert to previously announced “reciprocal” rates, then it would be game changing for jewelry manufacturers. (CNBC)
“This suggests that consumers’ reactions may not just be a temporary response to tariff increases, but instead signal a possible long-term structural shift in consumer preferences away from U.S. products and brands.” (New York Times)
The Canadian Grand Prix Awards finalists are being spotlighted on Flipp this week, showcasing standout new products from national and private-label Canadian brands. New flyers drop every week! Check it out
RCC’s member-only committees meet on specific retail issues. These groups offer the opportunity for unique collaboration with industry peers to help shape policies that affect retail. Network, share ideas, establish best practices and grow your career. Join a circle
As your teams evaluate opportunities to maximize the impact of compensation to your employees, consider how your health benefits could be for efficiently and effectively leveraged. RCC, in collaboration with health benefits experts, have created RetailCare, an affordable, best-in-class employee health and wellness benefits program. Learn more about RetailCare.
