TORONTO — Five things to watch for in the Canadian business world in the coming week:
GDP report
Statistics Canada will release February figures for gross domestic product on Tuesday. The agency's advance estimate for the month indicated that real GDP rose 0.4 per cent, helped by strength in mining, quarrying, and oil and gas extraction, manufacturing, and finance and insurance, partially offset by decreases in utilities.
Loblaw earnings
Grocery and drugstore retailer Loblaw Cos. Ltd. will report its first-quarter results on Wednesday morning. The earnings come as the company, which has faced sharp criticism from shoppers trying to manage the increased cost of groceries, has been expanding its footprint of discount stores.
Bank of Canada
Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers will be on Parliament Hill this week. The pair will be at the Senate committee on banking, commerce and the economy on Wednesday afternoon followed by the House of Commons finance committee on Thursday morning.
Gildan and Parkland
A pair of Canadian companies — Gildan Activewear Inc. and Parkland Corp. — that are both facing unhappy shareholders will report their quarterly results after the close of trading Wednesday. Gildan is embroiled in a dispute with an activist shareholder who is seeking to replace a majority of the company's board in a bid to bring back Glenn Chamandy as chief executive. Meanwhile, the largest shareholder at Parkland is calling for the company to undertake a review of strategic alternatives including a possible sale.
Air Canada results
Air Canada will report its first-quarter results on Thursday morning. The report could give an indication of how well Canadians' penchant for post-pandemic travel has held up after the airline reported record full-year operating revenue for 2023, reflecting strong demand for air travel.
This report by The Canadian Press was first published April 28, 2024.
Companies in this story: (TSX:L, TSX:GIL, TSX:PKI, TSX:AC)
The Canadian Press
