Canada’s oldest department store, the iconic Hudson’s Bay, is the latest shopping mall anchor to fall to a shifting market dynamic fueled by e-commerce. At the time of writing, the company was trying to get a court order that would allow it to liquidate its stores, which pertains to its relationship with RioCan Real Estate Investment Trust, one of Canada’s largest REITs and a partner in several joint ventures that operate HBC stores in prime locations. The retailer has asked an Ontario court to temporarily exempt it from making payments...

For the second time in six years, clothing retailer Forever 21 has filed for bankruptcy in the United States and while it will likely liquidate stores there, its stores in Canada and elsewhere will remain unaffected. The company cited greater competition online, particularly from Chinese suppliers taking advantage of duty-free treatment of low-cost packages, high costs, and slower mall activity as having contributed to this decision. “We've been unable to find a sustainable path forward, given competition from foreign fast-fashion companies,...

Canada’s largest bank has laid off an undisclosed number of employees as part of the company’s greater “growth strategy,” cuts that are meant to “better position RBC to take advantage of our global scale, simplify how we work and elevate the leaders and talent who will shape our client-focused growth opportunities,” which includes making some difficult decisions related to personnel. In addition to cuts, RBC has also made some promotions and expanded the responsibilities of others. RBC spokesman Jeff Lanthier says the changes are unrelated to...

In a move to broaden its portfolio, Pepsi will purchase Poppi, a prebiotic soda brand that has gained in popularity over the last several years, for nearly $2 billion, which further drove its shares upwards. A combination of greater awareness around health and nutrition, changing consumer preferences, and economic conditions such as inflation have all played a role in the diversification of Pepsi and its rivals’ portfolios. At a time when soda consumption is on a downward trend, prebiotic sodas like Poppi promise to satiate people’s thirst...

The Federal Reserve has released its projections for the world’s largest economy which shows a reduction in the country’s growth forecast and a warning that the tariffs were driving up prices. The Fed held interest rates, which was the expectation, leaving rates unchanged to give the economy more time to play itself out. The benchmark interest rate has been around 4.3 percent since December. After the announcement, President Trump called on it to cut rates. “The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition...

According to a survey by the Canadian Federation of Independent Business (CFIB), small business confidence is at a record low in Canada, even lower than it was during the global financial crisis and the pandemic. The CFIB’s Business Barometer long-term index fell nearly 25 points to 25, as confidence across all sectors felt the impacts of the current state of geopolitical and economic affairs, chiefly the tariffs with the United States and other trade partners. “Small business owners are feeling pessimistic about their business’s perspectives...