Five Canadian business stories to watch this week

Home price index
Home price index

Grocery bill

One of Canada’s largest grocers will report its latest quarterly results Wednesday. Metro Inc., as well as competitors Loblaw Companies Ltd. and Empire Co. Ltd., benefited from an initial surge in shopping during the early days of the COVID-19 pandemic, but have also experienced added operating costs from enhanced health and safety measures.

Transportation costs

The transportation world faces further reckoning this week, as flight simulator maker CAE Inc. and Chorus Aviation report earnings on Wednesday and Thursday respectively. The pandemic caused major disruptions to their operations as would-be travellers stayed home over much of the second quarter, prompting more than 3,000 layoffs at Chorus ​– a regional aviation company – as well as 1,000 at Via Rail, whose annual public meeting is scheduled for Thursday.

Home finances

Statistics Canada will release its new home price index for July on Wednesday. The Toronto and Vancouver resale housing markets experienced strong rebounds from lows experienced earlier this year during the height of pandemic-related shutdowns, with Toronto sales the highest of any July on record.

OBJ360 (Sponsored)

Lunch money

Health-food eatery Freshii Inc. is the latest restaurant chain to release its quarterly results this Friday. COVID-19 forced the industry to shutter dining rooms temporarily, and many restaurant conglomerates and chains reported massive drops in sales as a result. The Toronto-based chain was already struggling before the pandemic and in its most recent quarter, ended March 29, saw a US$2.5-million loss.

A ticket to the movies

Cineplex Inc. reports its second-quarter results Friday. The entertainment company started a phased reopening of its Ontario locations at the end of July. It is also embroiled in a legal battle with U.K.-based Cineworld Group PLC, which had planned to purchase Cineplex for $2.8 billion, but abandoned the deal due to alleged material adverse effects and breaches of contract – claims Cineplex denies.

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