) is scaling back its investments in its e-commerce business Voilà, pausing the opening of a fulfilment centre in Vancouver, and ending an exclusive agreement with technology provider Ocado, as the business struggles to be profitable.
In addition to the opening pause in Vancouver, Empire has also ended its exclusive partnership with Ocado, the technology group that provides and operates the automated CFCs. The termination will result in a one-time charge of $11.9 million for Empire. "We remain extremely pleased with Voilà, and continue to believe that this is the best grocery e-commerce solution in Canada, and that it will be attractively profitable in the medium and long term," Medline said.Empire sales were essentially flat compared to last year, coming in at $7.4 billion in the fourth quarter. The company reported a profit of $148.9 million, or 61 cents per diluted share, in the fourth quarter of the year, down from $182.
Steve Ballmer was hired as Bill Gates' assistant in 1980, became Microsoft CEO in 2000, and retired a decade ago with a hugely valuable 4% stake.Natural gas stocks such as Tourmaline will see their fortunes rise as natural gas demand and prices rise. The post With Natural Gas in Demand, 2 TSX Stocks Are Set to Heat Up appeared first on The Motley Fool Canada.
Russia is expanding its weapons production by buying secondhand equipment through China in order to evade Western sanctions, a new report states.OTTAWA — The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of deliberations reveals.