, driven by stronger profit margins on loans and lower provisions against defaults in its Canadian and U.S. retail banking businesses.
The bank’s quarterly results show early signs that the strain on Canadian consumers and businesses from inflation and high interest rates could be nearing peak levels, with the potential to ease next year as rates have started to fall.The bank reported provisions for credit losses of $419-million, or 23 per cent less than in the same quarter a year earlier.
The airline has struggled to find its footing after the pandemic, in part due to Boeing’s aircraft delivery delays and industry-wide overcapacity in the domestic market. “TD faced challenges in 2024, but we have a strong bank, with well-positioned businesses serving millions of customers. Our AML remediation is our top priority, and we remain focused on strengthening our risk and controls to meet our obligations,” chief operating officer Raymond Chun said in a statement. In September, the former head of the bank’s Canadian personal banking division was tapped as the next chief executive officer, set to take on the role in the spring.
Adjusted to exclude certain items, the bank said it earned $1.90 per share. That fell below the $2.41 per share analysts expected, according to London Stock Exchange Group. Its revenue dropped 18 per cent to US$1.5-billion from US$1.85-billion during the same period a year ago, missing the Street’s expectation of US$1.71-billion. An earnings per share loss of 31 US cents also missed the consensus forecast .
Identical sales, excluding fuel, rose 2.3 per cent in the third quarter, compared with analysts’ average estimate of 1.77-per-cent rise, according to LSEG data. Separately, CEO Rodney McMullen said Kroger is committed to closing its US$25-billion mega-merger with Albertsons. “Key selling periods have seen a positive customer response, yet we remain cognizant of potential choppiness during non-peak periods,” said American Eagle’s CEO Jay Schottenstein.
“AEO brands have been fairly successful in getting Gen-Z’s attention with seasonal campaigns and compelling promotions, but those same efforts are adding pressure to their margins that could prove unsustainable,” said EMarketer analyst Sky Canaves. The dollar-store chain operator said it aims to open about 575 new stores in the U.S., while fully remodeling roughly 2,000 stores in the fiscal year ending January 2026.
Dollar General posted third-quarter net sales of US$10.18-billion, beating analysts’ average estimate of US$10.15-billion, according to data compiled by LSEG. Dollar General posted earnings of 89 US cents per share in the quarter ended Nov. 1, missing estimates of 94 US cents.) on Wednesday forecast fiscal 2025 revenue below Wall Street expectations thanks in part to a slump in China sales as the U.S. tightens controls on what chip technology can be sold to the country.
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