Five Canadian business stories to watch this week


Shopify earnings

Shopify Inc. will hold its second quarter conference call on Wednesday. CEO Tobi Lutke announced in May that Shopify is a “digital-by-default company” and is moving to a permanent remote-work model for most employees, with no intention of reopening offices this year.

George Weston financial results

George Weston Ltd. releases its Q2 financial results on Tuesday. Loblaw reported last week that its Q2 net income fell despite revenue growth due to costs related to working through the COVID-19 pandemic, including a temporary pay bump for workers.

Child care stats

Statistics Canada is set to release a report on child care use during and after the pandemic on Wednesday. StatCan’s June Labour Force Survey found that employment recovery has been slowest for mothers with school-aged children, with women’s employment remaining below pre-pandemic levels, and women with children being more likely to be working less than half their usual hours.

OBJ360 (Sponsored)

Real estate prices

Statistics Canada is set to release a report on price trends in key Canadian housing markets for Q2 2020 on Thursday. The Canadian Real Estate Association recently reported that home sales in June were nearing or even beating pre-pandemic levels after coming to a near standstill earlier this year as non-essential businesses closed to help slow the spread of COVID-19.

Imperial Oil results

Imperial Oil Ltd. will discuss Q2 earnings on Friday. Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road.

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