Earlier this month, Loblaw, through its subsidiary Shoppers, announced a $75M minority stake investment in Maple, a Canadian telemedicine company. The acquisition is expected to expand Shoppers’ virtual healthcare services across Canada. [more]
Last week, Nuvei, a Canadian technology company focused on electronic payment solutions, started trading on the TSX, raising $833 million in the largest tech IPO in TSX history. Two classes of shares were issued, the subordinate voting shares and the multiple voting shares. [more]
This past quarter, companies focused on Stay-at-home products and services, including Peloton and Etsy, experienced high revenue growth due to the pandemic keeping consumers at home. [more]
Advertising revenue in the quarter was negatively impacted by the outbreak of COVID-19 as certain customers suspend or postponed work. Q2/2020 Revenue was $1.73M, a decrease of 22%, compared to $2.21M in Q2/19, but in-line with our estimate of $1.77M. [more]
SPG attempts to buy J.C. Penney and ABG raises $600 million to acquire distressed retail brands, while SPG and ABG’s JV called SPARC Group makes moves to win bids on bankrupt retail assets, including Brook Brothers and Lucky Brand. [more]
Since launching their IPOs last week, Rocket Companies and BigCommerce experienced an increase in stock price of 22% and 219%, respectively. However, Rackspace struggled as its stock price dropped by over 20% since its IPO. [more]
Quarterly sales were up over 21% to $22.8B with digital sales growing 276% and Net Income reaching $586M in FQ1/2020, up from $49 million in FQ1/2019, but the stock price remains below recent IPO price. [more]
Last week, Zynga reported Q2/2020 earnings with record revenues and bookings, as the mobile game company fueled growth through focusing on its portfolio of live services games and acquiring other high-growth franchises. [more]
According to trend-tracking and prediction technology firm RIWI, data suggests U.S. economic recession is much deeper than current jobs data is reporting and Biden has a slight lead on Trump for the Presidential election but beware of the “shy Trump voter” effect. [more]
This week, franchise restaurants Dunkin’ Brands, McDonald’s, Restaurant Brands International, and Starbucks, reported Q2/2020 earnings. Most franchises experienced double-digit revenue decreases. Dunkin’ Brands expects to close ~800 stores; Starbucks plans to close 400 locations. [more]
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