News Briefs

Parkland Corporation expects to announce its 2023 third quarter results after markets close on Wednesday, November 1, 2023.

A conference call and webcast will then be held at 6:30 a.m. MDT (8:30 a.m. EDT) on Thursday, November 2, 2023, to discuss the results.

7-Eleven’s 7Rewards loyalty program via the 7-Eleven mobile app has undergone a redesign, incorporating upgrades made to enhance the overall customer experience both in-store and via 7NOW Delivery.

"The heart of our digital connection with the customer is through the 7-Eleven app—it's a key driver that allows us to give our customers the convenience they want anytime, anywhere," says Yaqub Baiani, vice-president of product management at 7-Eleven. "We're focused on making our customers' shopping experiences easier, quicker, and more personalized—both in and out of our stores.”

Updated features include a simplified login and registration, an improved in-app shopping and delivery experience, centralized deals and rewards, faster access to fuel loyalty and carwash, and exclusive deals and discounts more visible to loyalty 

"It was paramount that we focused our efforts towards simplifying the core technical components of the customer experience in the app – including purchasing, payment and rewards," says Ranga Mohan, vice-president of engineering at 7-Eleven. "By improving these elements we've allowed the customer to have even more of a frictionless checkout experience regardless of where they're shopping with us—in-store or at home via 7NOW Delivery."

 

OTTAWA — Canada is inching closer to reaching a milestone where one in every 10 passenger vehicles sold is powered by electricity.

But the federal government wants the share of electric vehicles to be twice that in just two years, and the pace of EV sales has to jump significantly for that to happen.

Statistics Canada data published this week show more than 30,000 new electric vehicles were registered in January, February and March, making up 8.6% of the total passenger vehicles added to Canadian roads.

Canadian Vehicle Manufacturers' Association president Brian Kingston says he is concerned because that's down from the last three months of 2022, when the share of EVs among new registrations was 9.6%.

Kingston says the added cost of buying an EV and the limited availability of chargers remain barriers for many Canadians in making the switch.

But Clean Energy Canada spokesman Trevor Melanson says he thinks EV sales will show significant growth in the second quarter, noting the number of federal rebates issued for electric vehicles in April, May and June was nearly twice what it was over the winter.

MONTREAL - MTY Food Group Inc. reported a first-quarter profit of $18.4 million, up from $16.6 million a year earlier, as acquisitions helped its revenue more than double.

The restaurant franchisor said Wednesday its profit amounted to 75 cents per diluted share for the quarter ended Feb. 28, up from 68 cents per diluted share a year earlier.

Revenue at MTY totalled $286.0 million for the quarter, up from $140.5 million in the same quarter last year, while system sales totalled a record $1.36 billion, up from $885.7 million.

MTY said the increase in revenue was mainly due to recent acquisitions in the United States.

"Our acquisitions of Wetzel's Pretzels and Sauce Pizza and Wine during the quarter, along with the earlier BBQ Holdings transaction, largely contributed to 69% year-over-year growth in system sales in the U.S. market,'' MTY CEO Eric Lefebvre said in a statement.

"On the Canadian side, we delivered 32% system sales growth as the business rebounded from pandemic-related restrictions in the first quarter last year.''

During a call with analysts, Lefebvre said the company is expecting continued growth this spring.

"We need patio season to start for sales to go up in some of our concepts,'' he said. "It's a slow start to spring so far.''

The recent power outage in Quebec affected several of the company's restaurants, Lefebvre said.

While some restaurants lost power and were closed for several days, others with power "crushed it during the weekend and ran out of food,'' he said.

"As far as the power outage in Quebec is concerned, a lot of our restaurants were affected, some very positively and some very negatively,'' Lefebvre added.

MTY franchises and operates restaurants under more than 85 different banners in Canada, the United States and internationally. On the convenience side, MTY operates Country Style and Mr. Sub. 

At the end of its first quarter, MTY's network had 7,128 locations in operation, including 6,895 that were franchised or under operator agreements and 233 corporate locations.

-The Canadian Press

Quebec-headquartered Lassonde Industries Inc. reported $123.6 million in profit for the fourth quarter of fiscal 2022, down $10.5 million from the previous year.

The agri-food company attributed the loss to a number of factors, noting it took a $5.2 million hit in 2022 following a production interruption of the cranberry sauce line at its New Jersey plant. 

Higher input costs also played a role, particularly for apple and orange concentrates and PET resin, including an increase in the cost of transporting the produce to Lassonde’s plants, the company said.  

Sales were up 9.5% to $556 million for the quarter.

Gross profit for the full year reached $523.3 million, up $1.4 million from 2021. Sales totalled $2.15 billion, up 11.3% from the previous year.

"Despite a challenging year impacting our financials, we achieved an important milestone in 2022 with sales exceeding the $2 billion mark for the first time in our history, representing almost 14% growth year-over-year. This achievement reflects the important efforts of our employees in the context of severe macro-economic headwinds and industry-wide challenges. During the past year, our team worked diligently to strengthen our leadership position in the North American food and beverage sector, with a particular focus on improving U.S. operations. We anticipate that tangible results from our operational excellence efforts will gradually become apparent in 2023 and 2024, establishing a clear path towards long-term profitable growth," said Nathalie Lassonde, CEO and vice chair of the board of directors of Lassonde Industries Inc., in a statement.

Looking ahead, Lassonde expects the financial health of consumers, inflation and supply chain disruptions to have the biggest impact on its performance in fiscal 2023.

The company said it expects the effects of cost increases on its branded and private label product offerings to continue to be felt in early 2023. It also expects further “pricing action” to be implemented as inflation persists.

-Canadian Grocer

MONTREAL - Saputo Inc. has signed a deal to sell two milk processing plants in Australia to supermarket giant Coles Group Ltd. for about $95 million.

The Canadian diary giant says the fresh milk processing facilities are in the Australian states of Victoria and New South Wales.

Saputo says the deal is expected to close in the second half of the year and is subject to customary conditions, including clearance from the Australian Competition and Consumer Commission.

Coles Group includes grocery stores, liquor stores, fuel and convenience retailers, a loyalty program and financial services.

Saputo says the sale will help streamline its operations and allow it to reinvest in other areas of its business.

CEO Lino Saputo says the company is continually working to ensure it has the right manufacturing footprint and product offering to enhance its position as a high-quality, low-cost processor.

``This marks an important step in executing our long-term vision for success in Australia as we maintain a sharp focus on efficiency to ensure we maximize the return on every litre of milk,'' he said in a statement.

Australia deregulated its dairy market and eliminated support prices and quotas in 2000.

According to Saputo's website, the company first entered Australia in 2014, acquiring a majority interest in the Warrnambool Cheese and Butter Factory Co. Holdings Ltd.