Stock news for investors: Mixed fortunes for Lululemon, Couche-Tard, and Power Corp

The result for the period ended Feb. 1 amounted to earnings per diluted share of US$5.01, down from US$6.14 a year before.

Its revenue was US$3.6 billion, up by about one per cent from its prior fourth quarter.

The earnings came as Lululemon named former Levi Strauss & Co. president and CEO Chip Bergh as a board member. Lululemon founder Chip Wilson has been pushing the company since last year to add three nominees he put forward to its board. Bergh was not one of the nominees.

Alimentation Couche-Tard reports higher year-over-year profit of US$757.2M

Alimentation Couche-Tard Inc. says its net earnings attributable to shareholders came in at US$757.2 million for the third quarter, up from US$641.4 million in the same period last year. On a per diluted share basis, the company reported net earnings attributable to shareholders of 82 cents US for the quarter, compared with 68 cents US during the prior year quarter. 

The Laval, Que.-based company, which keeps its books in U.S. dollars, says its revenue amounted to US$21.8 billion during the period ended Feb. 1, up year over year from US$20.9 billion.

Couche-Tard says its total merchandise and service revenues reached US$5.8 billion during the quarter, rising 8.7 per cent from US$5.3 billion.   

Chief financial officer Filipe Da Silva says the company delivered one of its best quarterly results in over two years, validating its new approach.   

In February, Couche-Tard unveiled a new corporate strategy focused on strengthening its core platforms and pursuing targeted investment opportunities.

Power Corp. reports $408M in net earnings, down year over year from $933M

Power Corp. of Canada says its net earnings from continuing operations were $408 million in the fourth quarter, down from $933 million during the same period last year. On a per share basis, its net earnings from continuing operations came in at 64 cents during the period, down from $1.44 during last year’s fourth quarter. 

The Montreal-based management and holding company, which holds a 68.7% interest in Great-West Lifeco, says that company’s net earnings from continuing operations reached $1.05 billion compared with $1.12 billion in the prior year quarter. 

Power Corp. also holds a 62.9% stake in IGM Financial Inc. and says that the company’s net earnings came in at $322.4 million in the fourth quarter, up year over year from $254.7 million. 

In February, Power Corp. named James O’Sullivan as its next president and chief executive, effective July 1. He will succeed Jeffrey Orr, who will become vice-chair and stand for re-election to Power’s board of directors at the company’s annual meeting.   

Read more news:

About The Canadian Press

The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.