Lululemon curtails estimates

Lululemon Athletica Inc. is lowering its fourth-quarter earnings estimates as the Omicron variant curbs the retailer’s sales. The Vancouver-based company says it now expects its net revenue and earnings to be on the low end of previously announced ranges. Calvin McDonald, CEO of the athletic apparel retailer, says Lululemon started the holiday season in a […]

Tilray ready for cannabis storm

The scores of new entrants to the cannabis market combined with plunging prices have resulted in an “unsustainable” situation, Tilray Inc. executives say, but one they feel their company can weather. Blair MacNeil, president of the cannabis company’s Canadian business, said Monday that 157 new pot brands were launched in the country in the last […]

Big increases for smaller cities

VICTORIA — Assessed values of properties in B.C. are up again, but the pricey Vancouver area has been upstaged by small towns where value estimates rose by more than 40%. Data posted on the BC Assessment website shows market value as of July 1, 2021, increased over 40% in the communities of Hope, Port Alberni, […]

Food delivery fee cap staying

VICTORIA — The B.C. government says it’s extending the cap on fees charged by food delivery companies to help the restaurant industry through the COVID-19 pandemic. Ravi Kahlon, the minister of jobs, economic recovery and innovation, says the fee cap was to expire on Dec. 31, but it’s now been extended to the end of […]

Forestry money leaving BC

Canfor Corporation is capping 2021 with another investment outside of B.C., bringing the total investment of B.C.’s forestry majors outside of B.C. to roughly $6 billion this year alone. Canfor on Thursday announced it is buying Millar Western Forest Products Ltd. solid wood operations and associated tenure in Alberta for $420 million. In June, Canfor […]

Telus receives fewest complaints

Consumer complaints against Telus grew slightly over the past year but remained lower overall than its major competitors, according to an industry watchdog’s annual report. The Commission for Complaints for Telecom-Television Services revealed Monday the Vancouver-based telecom giant faced 1,221 complaints between August 2020 and July 2021. That’s up 4.7% compared with a year earlier, […]

CN ready to roll in BC again

MONTREAL — Canadian National Railway Co. says it aims to reopen its network in southern B.C. this weekend after another bout of rain and wind prompted a second shutdown. CN said Friday that engineers and construction crews continue to work on the Vancouver-Kamloops corridor, which was first cut by landslides and washouts amid torrential downpours […]

Oil and gas crucial for BC

By Ven Venkatachalam and Lennie Kaplan B.C. has been producing oil and natural gas since 1952. As of 2018, B.C. produced 32% of Canada’s natural gas and 2% of Canada’s conventional daily oil production. The government collects royalties from oil and gas development, supporting economic prosperity in the province. So how important is the oil […]

Vancouver home sales soar

VANCOUVER — The Real Estate Board of Greater Vancouver says November home sales increased by almost 12% from last year as demand continued to outpace supply. The B.C. board says sales for the month amounted to 3,428, up from 3,064 last November but down from 3,494 in October 2021. The board says last month’s sales […]

Trans Mountain set to flow

CALGARY — The restart of the Trans Mountain pipeline is “only a few days away,” according to the company working to get the critical piece of infrastructure back up and running ever since a precautionary shutdown on Nov. 14 due to flooding and extreme weather in B.C. Trans Mountain Corp. said in an update on […]