started flat after it reported its fourth-quarter profit fell compared with a year ago as its provision for credit losses rose. The bank, which is in the process of being acquired by National Bank of Canada, reported $62.2-million in common shareholders’ net income or 63 cents per diluted share for the quarter ended Oct. 31.The result was down from common shareholders’ net income of $76.8-million or 80 cents per diluted share in the same quarter last year. Revenue totalled $309.
5-million, up from $291.8-million a year ago, while the bank’s provision for credit losses amounted to $40-million, up from $9.8-million a year earlier. On an adjusted basis, the bank says it earned 67 cents per share in its latest quarter compared with an adjusted profit of 94 cents per share in the same quarter last year. is working to complete its deal to buy CWB in an agreement valued at about $5-billion. The takeover has shareholder and Competition Bureau approval, but still requires the go-ahead from Canada’s banking regulator and the finance minister. ) beat market expectations for fourth-quarter results on Wednesday, helped by robust demand for its pricey footwear, sending the company’s shares up With fresh styles becoming a priority for consumers, Birkenstock’s sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers. The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally. “The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, sai
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