Bombardier Inc. said Thursday it would cut about 1,750 jobs as a result of slowing demand for business jets in some international markets.  Up to 1,000 of the cuts will be at the plane and train maker’s Montreal operations, with the balance in Toronto and Belfast.
Canadian Tire Corp. posted a first-quarter profit of 88 Canadian cents a share, a penny better than analysts polled by Thomson Reuters expected. It said same-store sales in all its core retail banners were higher. “We once again owned the seasonal business,” the retailer’s CEO, Michael Medline, said in a statement. Rival Target Corp. announced its exit from Canada at the start of the year.
Gildan Activewear Inc. said earnings in its latest quarter fell 29%, as lower selling prices and currency headwinds bit into the company’s bottom line. Adjusted per-share profit and revenue results met the T-shirt company’s expectations.
Callidus Capital Corp. said first-quarter revenue was up 70% from a year earlier to C$35 million and it recorded a profit of C$16 million, compared with a loss a year earlier.
Pacific Rubiales Energy Corp. posted a first-quarter loss of $722 million, hurt by lower crude oil prices an asset-impairment charge. Revenue also fell 19%. The news comes as Pacific Rubiales works with Mexican conglomerate Alga and Harbour Energy Ltd. on a definitive agreement that would see Pacific Rubiales acquired at C$6.50 a share.
Legacy Oil + Gas Inc. swung to a first-quarter loss and posted lower cash flow and sales due to lower oil prices. The energy company said its banking syndicate agreed to a reduction in its credit facilities to C$725 million from C$800 million.