Reitmans (Canada) Limited Reports First Quarter Financial Results
MONTREAL, June 17, 2025 /CNW/ - Reitmans (Canada) Limited ("RCL" or the "Company") (TSXV: RET) (TSXV: RET -A), one of Canada's leading specialty apparel retailers, today reported its financial results for the first quarter ended May 3, 2025. Unless otherwise indicated, all comparisons are to the first quarter ended May 4, 2024. All dollar amounts are in Canadian currency.
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Globe and Mail
3 hours ago
- Globe and Mail
MA, V, or XYZ: Which Fintech Stock Is Wall Street's Best Pick?
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It launched Mastercard Agent Pay, its new Agentic Payments Program, and will work with companies like Microsoft (MSFT) and OpenAI. Mastercard has also entered into a strategic partnership with Corpay to offer an enhanced suite of corporate cross-border payment solutions. Mastercard sees its value-added services, which complement its core payments network, as a key growth driver. Interestingly, 85% of the company's value-added services and solutions revenues are recurring in nature, presenting a stable baseline for growth. Despite ongoing macro challenges, Mastercard remains confident about delivering a resilient performance, supported by its diversified business model. Is Mastercard Stock a Good Buy? On Friday, Visa and Mastercard stocks declined 5% each in reaction to a Wall Street Journal report that retail giants Amazon (AMZN) and Walmart (WMT) are exploring issuing their own stablecoins to shift high volumes of transactions outside the traditional financial system and save billions of dollars in fees. Reacting to the news, Barclays analyst Ramsey El Assal reiterated a Buy rating on Mastercard stock with a price target of $650 and a Buy rating on Visa stock with a price target of $396. While Assal sees notable potential in stablecoin technology and remains optimistic about its broader applications, he believes retail payments will be a challenging area for adoption. He contends that the concerns about the impact on Visa and Mastercard are exaggerated. Assal stated that he views any related weakness as a buying opportunity. With 20 Buys and three Holds, Mastercard stock scores a Strong Buy consensus rating. At $639.10, the average MA stock price target indicates 12.4% upside potential from current levels. See more MA analyst ratings Visa (NYSE:V) Payments processing giant Visa delivered a resilient performance in the March quarter despite a challenging macro backdrop. The company reported market-beating results for the second quarter of Fiscal 2025 (ended March 31, 2025), with payments volume rising 7.5% (constant currency basis) to $3.34 trillion. Visa's Q2 FY25 revenue was supported by strength in cross-border volume and processed transactions. Despite macro challenges, the company is confident about generating solid performance, driven by its strategy across key offerings, a diversified business model, and a focus on innovation. Is Visa Stock a Buy, Sell, or Hold? Following a Wall Street Journal article on Amazon (AMZN) and Walmart's (WMT) potential issue of their own stablecoins, William Blair analyst Andrew Jeffrey encouraged investors to accumulate shares of Visa and Mastercard on pullback, as he does not believe that stablecoins are well suited for B2C commerce, even as merchants view them as a potential means of lowering card acceptance costs. Jeffrey's opinion is backed by three reasons. Firstly, consumers are habituated to the ease of use and security of traditional cards. Secondly, there is no stablecoin standard. Lastly, Visa and Mastercard are building stablecoin infrastructure that can support commerce on their platforms, which can help them to continue partnering with banks for issuance while bringing down merchants' acceptance costs. Overall, Visa stock scores a Strong Buy consensus rating based on 24 Buys and four Holds. The average VISA stock price target of $388.85 indicates 9.4% upside potential from current levels. 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Canada Standard
3 hours ago
- Canada Standard
"Calibrated steps to restore stability": Foreign Secy Vikram Misri on improving India-Canada ties
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India and Canada also agreed to resume senior and working-level mechanisms and discussions in various areas, including: trade, people-to-people contact, connectivity and collaboration in key areas like, cooperating on clean energy and technology initiatives, collaborating on digital infrastructure projects, exploring opportunities for cooperation in artificial intelligence and discussing potential collaboration on food security and critical minerals. Misri added, 'The two Prime Ministers also agreed to resume senior and working level mechanisms and discussions in a host of areas related to trade, people-to-people contact and connectivity. All of them intended to bring greater momentum to the relationship. The two leaders also discussed potential collaboration in a host of issues related to clean energy, clean technology, digital infrastructure, artificial intelligence, food security, critical minerals and supply chains.' Addressing the ongoing trade negotiations, Foreign Secretary Misri said, 'In view of the trade negotiations between the two countries that are currently paused, the two leaders also decided to instruct their officials to take it up at an early date. The two leaders agreed to stay in touch and meet once again at the earliest possible opportunity.' This meeting marked a positive step towards reviving India-Canada relations with a focus on multiple strategic areas and renewed diplomatic engagement. As part of this renewed engagement, Prime Minister Narendra Modi arrived at the Pomeroy Kananaskis Mountain Lodge in Canada on Tuesday to attend the G7 Summit, where Canadian PM Mark Carney warmly received him at the venue in Kananaskis, Alberta. This marks his sixth consecutive participation in the G7 Summit and his first visit to Canada in a decade. PM Modi received a ceremonial welcome at the Calgary airport, where India's acting high commissioner, Chinmoy Naik, was among those who received him. Upon arriving in Calgary, Canada, PM Modi on Monday (local time) said he will meet various leaders at the G7 Summit and share his thoughts on important global issues. PM Modi said he will also emphasise the priorities of the Global South. This visit is part of PM Modi's three-nation official tour, which began with Cyprus and will conclude with Croatia. In a post on X, PM Modi stated, 'Landed in Calgary, Canada, to take part in the G7 Summit. Will be meeting various leaders at the Summit and sharing my thoughts on important global issues. Will also be emphasising the priorities of the Global South.' Ministry of External Affairs official spokesperson Randhir Jaiswal said that PM Modi will be participating in G7 discussions on the future of energy security, including diversification, technology, infrastructure and investment, to ensure access and affordability in a changing world. 'At the invitation of PM @MarkJCarney, PM @narendramodi arrives in Alberta, Canada for the G7 Summit. PM will be participating in @G7 discussions on the future of energy security, including diversification, technology, infrastructure and investment, to ensure access and affordability in a changing world. PM will also hold several bilateral meetings on the sidelines,' Jaiswal posted on X. The Prime Minister arrived in Canada after concluding his visit to Cyprus. PM Modi's visit to Canada marks a significant moment in bilateral ties following a phase of strained diplomatic relations. On Monday, India's Acting High Commissioner to Canada, Chinmoy Naik, expressed optimism over discussions set to be held between Prime Minister Narendra Modi and his Canadian counterpart, Mark Carney, on the sidelines of the G7 Summit in Alberta. Speaking to ANI, Naik stated that PM Modi has been invited to the G7 Summit by Carney and noted that India will be participating in the G7 Summit as a guest country for the sixth time. He stated that India at the G7 Summit will speak about energy security, innovation, and new technologies like AI. The G7 Summit is an annual gathering of leaders from the United States, United Kingdom, France, Germany, Japan, Italy, Canada, and the European Union (EU). This marks PM Modi's sixth consecutive participation in the G7 Summit. (ANI)
CBC
4 hours ago
- CBC
Winnipeg developer appeals to Supreme Court to hold city accountable for delays in Parker lands project
A developer who had previously sued the City of Winnipeg over claims that its employees slowed the progress of a residential development in Fort Garry has filed an appeal with the Supreme Court of Canada. In July 2023, a Court of King's Bench judge decided that two city planners intentionally stalled development of the former Parker lands, a 19-hectare parcel that Andrew Marquess of Gem Equities had planned to turn into a 1,900-unit development called Fulton Grove. The city was ordered to pay Marquess $5 million. The city filed an appeal. In April, a Manitoba Court of Appeal judge decided that evidence presented at trial fell short of proving the city planners were misfeasance in public office, and reversed the original decision. The decision also stated that there was "nothing nefarious" about city planners meeting with River Heights-Fort Garry Coun. John Orlikow to give and receive feedback on the project. Now the developer hopes to reverse that decision. On Monday, the developer's lawyers filed a 242-page appeal document to the Supreme Court, that the city planners were "acting deliberately and unlawfully in an effort to slow down or thwart the Plaintiffs' development with disregard for the harm their actions were causing the Plaintiffs." This document reaffirming claims Marquess made in his 2018 statement of claim and hearings in 2021. The city had argued that there was no evidence that its employees were unlawfully and deliberately trying to slow down the development of the land, which Marquess had acquired in a 2009 swap with the city for land he owned in Fort Rouge.
