Sales Management

The Canadian dollar traded higher overnight, lifted by AUD/USD and NZD/USD gains. The antipodean currencies rallied on improved global risk sentiment. The Chinese yuan continued to trade higher, and that development raised expectations for a trade fueled, global economic rebound, on the heels of a successful COVID-19 vaccine.

There is a danger that markets may be getting too far ahead of themselves. A coronavirus vaccine won’t be readily available till some time in the late spring, and that doesn’t necessarily mean that an effective distribution mechanism will be in place. More immediately, new COVID-19 cases continue to rise or remain stubbornly high in Ontario, Quebec, Manitoba, as well as in the U.K., Europe, and the U.S.. The impact of measure to contain the virus will negatively effective short-term economic growth, and it is hard to see the current “risk-rally” lasting.

The British pound continues to grind higher on anticipation that … Read the rest

The Canadian dollar, like the rest of the G-10 FX major currencies, traded in relatively narrow ranges in a somewhat subdued overnight session.

The euphoria about possible coronavirus vaccines started to fade in Europe, with the top equity indexes all posting losses at the Toronto open. Traders continue to keep a cautious eye on the elevated U.S. coronavirus cases and talk of measures to slow the rise, as well as the fall-out from the U.S. election.

GBP/USD is trading at the top of its $1.3194-$1.3255 range, underpinned by Brexit rumours and headlines. The U.K. Express reported that Prime Minister Boris Johnson was told by Chief Negotiator David Frost to expect a trade deal by next Tuesday. A contradicting report in another paper claimed that France would veto any deal unless the fishing rights issues were resolved in its favour. The short-term GBP/USD technicals are looking for additional gains above $1.3280 … Read the rest

Shares of Dollarama Inc (TSX:DOL) are up 11% this year, well above the TSX’s 3% decline over the same period. The dollar store chain is an appealing investment especially amid a recession and when consumers are on tighter budgets.

In its most recent quarterly results, for the period ending Aug. 2, the retailer reported solid sales growth of 7.1%, reaching $1.0 billion. Its comparable store sales grew at a rate of 5.4% (when excluding temporary store closures), and even when including all stores, the growth rate was still a positive 2.5%. President and CEO Neil Rossy stated that “our sales were strong, driven by the demand for summer seasonal items, and store traffic improved with each month as provincial reopening plans unfolded.”

The company is scheduled to release its third-quarter results on Dec. 9

Currently, the stock’s trading at a forward price-to-earnings multiple of 18 and a price-to-sales ratio of … Read the rest

Stocks throughout North America finished Friday much the way they started it, with booming gains pretty much up and down the board.

The TSX recovered 93.46 points to close Friday at 16,675.64. On the week, the index vaulted 392 points, or 2.41%.

The Canadian dollar backtracked 0.03 cents to 76.08 cents U.S.

Health-care stocks carried much of the load Friday, with Trillium Pharmaceuticals picking up $1.96, or 10.6%, to $20.43, and Aphria triumphing 37 cents, or 5.2%, to $7.50.

Energy stocks were the next largest gainer, with Husky Energy up 21 cents, or 4.9%, to $4.51, while Cenovus Energy gained 25 cents, or 4.7%, to $5.62.

In the consumer discretionary sector, Linamar Corp. improved $1.69, or 3%, to $58.15, while Spin Master Corp. advanced 82 cents, or 2.7%, to $31.15.

Consumer staples, particularly grocers, did not fare so well, as Loblaw dumped $1.90, or 2.8%, to $65.70, while Empire Company … Read the rest