Latest news with #Canada-made
Time of India
22-05-2025
- Business
- Time of India
Luxury retailer Canada Goose withholds annual forecast on tariff uncertainty
HighlightsCanada Goose withheld its fiscal 2026 forecast due to uncertainties related to tariff policies, while experiencing a 22% increase in shares driven by strong winter season sales. Revenue from Greater China surged by 63.1%, contributing significantly to Canada Goose's total revenue, with the region accounting for 31.7% of the overall earnings. The company's quarterly revenue reached C$384.6 million, surpassing analysts' estimates, and Canada Goose reported an adjusted profit of 33 Canadian cents per share, also above expectations. Canada Goose on Wednesday withheld from providing its fiscal 2026 forecast due to tariff-related uncertainty, even as strong winter season sales drove its quarterly revenue, lifting its shares 22% higher. The parka maker joined several other companies in either withholding, cutting or withdrawing expectations for the year following the Trump administration's unpredictable tariff shifts. There are some U.S. tariffs but the majority of the company's products are not under these levies, CEO Dani Reiss told Reuters. Canada-made products are exempt from tariffs under the trade agreement between the country, U.S. and Mexico, while higher tariffs on European-made goods have minimal impact, Chief Operating Officer Beth Clymer said on post-earnings call. Tariff policies sparked a global trade war , rattling businesses and Americans who are bracing for price hikes. Retail behemoth Walmart has already hiked prices on some items. Canada Goose, driven by winter wear, saw strong sales during the key January to March season, partly aided by a Lunar New Year campaign in China, its biggest market that generates 31.7% of its total revenue. Greater China revenue surged 63.1%. In the United States, a marketing campaign with fashion designer Haider Ackermann, which kicked off in November, aided a 15.3% rise in quarterly revenue. The country accounts for 24.3% of total revenue. "Canada Goose has bolstered its brand equity through exciting collections and collaborations and this has improved its ability to engage customers through direct channels that foster stronger loyalty and better insights," said Sky Canaves, an analyst with market research firm eMarketer. Benefits from leaner inventory levels as well as robust growth of 15.7% in the direct-to-consumer channel strengthened its margins. The company posted quarterly revenue of C$384.6 million ($277.15 million), beating analysts' estimates of C$356.4 million, according to data compiled by LSEG. It earned adjusted profit of 33 Canadian cents per share, above estimates of 23 Canadian cents.
Yahoo
09-05-2025
- Business
- Yahoo
Trump Is Wrong. Cheap Goods Are Awesome.
Donald Trump doesn't think Americans deserve stuff. The right number of pencils for a family? Five. The right number of dolls for a little girl? Two, maybe three. His comments in recent interviews bear a striking similarity to those of left-wing Sen. Bernie Sanders (I–Vt.), who in 2015 famously bemoaned that consumers have too many deodorant options. How did Trump—who campaigned on a promise of reducing inflation—become so eager to have Americans pay more for everyday commodities? While Trump may have made overtures to reducing prices, he's long supported the kinds of economic interventions most likely to lead to inflation. And if you believe that protectionism is the path to prosperity for everyday Americans, your definition of prosperity starts to change pretty quickly. Just a few months into his second term, Trump has so far enacted a sweeping protectionist agenda. He's levied staggering tariffs that have hiked prices on everything from mattresses to cars to strollers and tanked the stock market. However, Trump and his defenders have remained strident, arguing that Americans just don't need affordable imported goods. Tariff defenders on the left and right seem to think this way—and don't hesitate to frame these goods as somehow antithetical to a healthy society. In April, one conservative commenter went viral after he posted a photo of a dingy, cramped living room with the caption "Remember what they took from you." Earlier this month, X was dominated by AI-generated images of 1950s-style family scenes with captions like, "We traded this for a higher GDP," as if happy families are somehow incompatible with economic growth. In January, one House Democrat voiced support for tariffs, questioning whether Americans even need Avocados. These tariff enthusiasts are wrong. Cheap goods aren't at odds with prosperity—they're one of the main ways we experience economic flourishing. Having the ability to try new hobbies, to cost-effectively furnish a home or stock a fridge, are key parts of what makes us feel like we're economically thriving. Looking at my own recent Amazon history, it's easy to see how globally traded, inexpensive goods made my life better and more convenient. There's the peeler (made in China) that helps make elaborate citrus curls for cocktails. There's the face wash (France) and a new purse (China). There's even a pack of Canada-made cow-free dairy milk (yes, this exists) that my vegan, protein-obsessed husband bought with delight. Other Americans also seem to prefer low prices over other factors. Last month, a showerhead company decided to offer customers the ability to pay significantly more for a product made in America. While the company sold 584 of their Asian-made showerheads, they sold zero American-made showerheads, even though around a third of Americans claimed in a recent survey that they'd pay more, regardless of the price difference, for an American-made product. The good news for global trade–enthusiasts is that while the premise of high tariffs is to bring manufacturing back to America, not many Americans actually want to work in factories. A 2024 survey from the Cato Institute found that while 80 percent of Americans believed that our country would be better off if more people worked in manufacturing, only around 25 percent said they would personally be better off if they worked in a factory. And there's reason to doubt how fervent that 25 percent is, too. "Around the same share of homemakers, students, and permanently disabled respondents expressed a preference for factory work as did full-time workers—a clear indication that said preference isn't real or, at least, very strong," Cato's Scott Lincicome wrote last month. Our nostalgia for our poorer, more manufacturing-centric past, it turns out, is based on little more than vibes. "High-enough tariffs might be able to reshore labor intensive industries like textiles (at a massive cost, of course), but—because there's no vast surplus of available, eager labor—doing so would inevitably come from shifting finite resources away from the higher-value activities in which our workforce specializes today," Lincicome added. "Put another way, we'll be gaining mediocre jobs nobody really wants at the expense of better jobs they actually do." The post Trump Is Wrong. Cheap Goods Are Awesome. appeared first on
Yahoo
21-03-2025
- Business
- Yahoo
Shoppers want to 'buy Canadian,' but experts warn that some 'made in Canada' labels might be deceiving
Grocery stores across the country are riding the "buy Canadian" patriotic wave to boost sales, but experts are urging shoppers to get informed before blindly falling for any maple leaf signage. As customers continue to prefer Canada-made items amid a tariff war brought on by U.S. President Donald Trump, here are some ways to decipher what is truly Canadian on your next trip to the store. 'There's no specific law on what you can put a maple leaf on,' David Soberman, marketing professor at Rotman School of Management, tells Yahoo Canada. 'What we have to think about in marketing is what this actually communicates. When you put a little Canadian flag on something, some people will think it's a Canadian product." On Reddit, users took to the "Loblaws Is Out of Control" page to decry the "downright dirty and wrong" practice of slapping maple leaf signs on anything. The post, titled "Loblaws is truly disgusting," included photos of bags of frozen fruits and vegetables from the company's in-house brands No Name and President's Choice. But the labels on the display featured a maple leaf icon, even though the bags themselves clearly stated that the frozen pineapple is from Costa Rica, the strawberries from Mexico, and the green beans from the U.S. Some in the comments referred to the tactic as 'canuckwashing' and 'Maplewashing,', but Soberman says the company isn't breaking any laws. "You'd have to be a pretty uninformed Canadian to think pineapples are grown in Canada," he adds. The maple leaf sign on frozen pineapples likely signals that No Name is a Canadian brand, even if the products within those labels are sourced elsewhere, Soberman posits. 'I have a feeling they're trying to capitalize on being a Canadian chain,' he says. 'They're trying to distinguish themselves from other places that sell groceries, like Costco or Walmart, which are U.S. owned chains.' Still, something about this didn't sit right with shoppers. 'This is just down right dirty and wrong just to make a sale,' user Vortechtral wrote. 'They slap on random maple leafs on products in hopes people will purchase them over something else.' You'd have to be a pretty uninformed Canadian to think pineapples are grown in Canada. In a statement, a representative from Loblaw says the company is doing what they can to inform customers about Canadian products, while acknowledging that it can be tricky to distinguish between what's made in Canada, packaged in Canada or produced in Canada. 'We know Canadians are looking for more information about where products come from and we're doing what we can, recognizing the complicated supply chain in food production,' it reads. 'We've added the maple leaf symbol … with certain products throughout the store and online.' The statement further says that in all cases, this symbol means the product was "prepared in Canada" with domestic and/or imported ingredients. Some of these products may have "product of Canada" or "made in Canada" claims on their packaging, which means even more aspects of those products come from Canada. Loblaw has also added a page to its website, breaking down how tariffs will impact their products. Along with the maple leaf symbol, the company will add a T label to any product that's impacted by the tariffs. Soberman says grocery chains are doing their best to cater to Canadian customers who want to support local and national producers. "Make it visible and easy for people to choose, you'll create a more pleasant shopping experience for them because that's what they're looking for right now," he says. As for the future of the "buy Canadian" movement, Soberman thinks getting Canadians to buy American products again might be like trying to "unscramble an egg." "What you have is a situation where even when Trump's term ends, and hopefully we get back to a situation that's more normal, where trade is encouraged between countries, I think you'll still have a situation where buying Canadian and being patriotic will be important," he says.
Reuters
07-03-2025
- Business
- Reuters
How companies are responding to Trump's tariffs
March 7 (Reuters) - Corporate America is scrambling to implement countermeasures as President Donald Trump's latest tariffs on Chinese imports went into effect earlier this week, while some levies on Canada and Mexico have been suspended. Potential price hikes, changes in sourcing locations and new U.S. plants are among the actions planned since Trump unveiled the tariffs and threatened potentially more levies. HIGHER PRICES * Best Buy (BBY.N), opens new tab warned of the possibility of higher prices for American shoppers. "The giant wildcard obviously is how the consumers are going to react to the price increases...," CFO Matt Bilunas said on a call with analysts. * Target (TGT.N), opens new tab also warned about potential price hikes as it depends on lots of vegetables and fruit from Mexico during winter, CEO Brian Cornell said. "But if there's a 25% tariff, those prices will go up ... certainly over the next week," he said. SOURCING SHIFT * Target will move more of its sourcing for its store brands, which include All in Motion and Cat & Jack, to countries in the Western Hemisphere like Guatemala and Honduras, and away from China where 30% of those products are made. It expects to further reduce that dependence to 25% next year. * Kroger (KR.N), opens new tab is working with its merchandising and sourcing teams to diversify the supplier base for some commodities in its fresh business, possibly shifting to geographies that will be less affected by the tariffs to keep prices low, CFO Todd Foley said on an earnings call. * Costco (COST.O), opens new tab executives said the retailer's so-called treasure hunt structure allows it to adjust its merchandise mix more easily than others, and possibly source products from countries that are not subject to tariffs. "With our flexibility, there are not many items we can't find something else to replace - or something else to bring in - in that category," CEO Ron Vachris said. * Alcoa (AA.N), opens new tab has said it would likely reroute its Canada-made aluminum to Europe to avoid U.S. tariffs, and send its Australian output to the U.S. "We would be optimizing our global system based on any new tariff structures ... there is a potential for metal to come out of Australia and go into U.S. if there is a massive tariff dislocation," CEO William Oplinger told Reuters in an interview in January. * Hewlett Packard Enterprise (HPE.N), opens new tab said the server maker would leverage its global supply chain to mitigate aspects of an expected impact and adjust prices as well. U.S. SHIFT * Honda (7267.T), opens new tab has decided to produce its next-generation Civic hybrid in the U.S. state of Indiana, instead of Mexico, to avoid potential tariffs on one of its top-selling car models, three people familiar with the matter told Reuters. * Pfizer (PFE.N), opens new tab said it might move overseas manufacturing to its existing plants in the U.S., if required. "If something happens, we will try to mitigate it by transferring from manufacturing sites outside to the manufacturing sites (in the U.S.)," CEO Albert Bourla said at the TD Cowen healthcare conference. NEW INVESTMENTS * Apple (AAPL.O), opens new tab in late February unveiled $500 billion in U.S. investments in the next four years that will include a giant factory in Texas for artificial intelligence servers. * Two days later, drugmaker Eli Lilly (LLY.N), opens new tab said it planned to spend at least $27 billion to build four new manufacturing plants in the U.S. over the next five years.
CBC
08-02-2025
- Business
- CBC
Q&A: App helps shoppers buy Canadian one barcode at a time
Canada and the U.S. have avoided a trade war — for now. A 30-day armistice was reached before steep tariffs on imports came into effect in both countries. During the buildup, however, Prime Minister Justin Trudeau urged Canadians to check item labels to ensure they purchase Canada-made products. A pair of Edmonton entrepreneurs, Matthew Suddaby and William Boytinck, have created an app called Shop Canadian to help with just that. This interview has been edited for length and clarity. How did you guys get together on the app? Boytinck: Matt and I met in high school, originally, close to eight years ago, and currently work together as software developers. I came up with this idea [last] weekend. I messaged him, and [we] started building it just then and there … I think, like everyone, we've been caught up in this sort of patriotic wave, and I think everyone also wants to support local — us included. So that was the original motivation. How does it work? Suddaby: It's really simple. All you have to do is pull out your phone, find a barcode, scan it and it will show you the results. Right now, it will look at a database of company registrations for product codes and then it will show you if that company is registered in Canada, the U.S., or elsewhere. Boytinck: We access sort of a standardization organization and that's where we can pull these barcodes from. That'll give us company registrations — among other data — and that's what we use to filter by. Have you got any feedback at all yet? Boytinck: A lot. Over the past 24 hours, we've received hundreds of suggestions, hundreds of messages, lots of support — which is blown up far beyond what we ever expected. Right now, it's a little overwhelming, but we're doing our best to to make it better, to make it more accessible for people and keep it simple and fast and easy to use. We've had people come on the show to talk about these things in the past. Often when you put it out there, there are a few bugs in the system that you might not have known about until people start using it. Have you noticed that yet at all? Boytinck: We're dealing with one issue right now, which is part of the reason why we're starting to crowdsource — sometimes it's really hard to identify exactly how Canadian a company is. For example, if it's imported by a Canadian company and packaged in Canada, sometimes we'll recognize it as Canadian. We're having a few problems, right now, with just the amount of traffic we're having, and the organization that we pull [data] from is starting to slow us down a little bit. But we're working on that. How many people have downloaded the app so far? And what do you think the possibility is? Suddaby: We got data from the day before and it was 1,000. At this point, I would say we're probably close to 2,000 [or] 3,000. Boytinck: I don't know [the potential]. As long as people are using it, as long as we can help people shop Canadian, that's the overall goal. It doesn't matter how many people end up downloading it. What's it like to have your own app out there in the world and it's starting to take off like this? Boytinck: It's definitely special having people give you lots of feedback and seeing comments being like, 'Wow, I'm using this. It's already helping.' It's definitely not a feeling we've experienced before. We've gotten lots of feedback, as software developers, for the products we've made before, but nothing on this personal level.
