as it set aside a smaller than expected sum to protect against bad loan losses and wrapped in HSBC’s domestic operations.
At the end of July 31, RBC’s Common Equity Tier 1 ratio, a measure of a bank’s resilience that compares its capital against its assets, stood at 13 per cent, well above the Canadian banking regulator’s requirement. Montreal-based National Bank earned $1.03-billion in total profit or $2.89 per share in the third quarter. That’s up 24 per cent from the $2.33 earnings per share in the prior year. Its adjusted EPS, which removes certain items, was $2.68 in the three months ending July 31, well ahead of the $2.47 estimate from analysts.
“With our prudent approach to capital, credit, and costs, we remain well-positioned in a complex macro environment and we look forward to the growth opportunities ahead,” Mr. Ferreira said. “Anniversary sales were driven by newness and fall fashion... including our Nordstrom private brands,” President Pete Nordstrom said.
Affluent shoppers continue to spend, albeit at a slower pace, benefiting apparel chains such as Abercrombie & Fitch and Gap. Clearance events toward the start of the year helped Kohl’s offer fresher styles in footwear, baby products and women’s dresses in the key spring shopping season. Excluding items, Kohl’s earned 59 US cents per share, beating estimates of 45 US cents, as per LSEG data.
Comparable sales fell 5.1 per cent in the second quarter, compared with expectations of a 2.19-per-cent drop.After the bell on Tuesday, the Ottawa-based supply chain management and sales and operation planning software company announced CEO John Sicard will retire from his role at the end of the year and recently appointed Chief Sales Officer Claire Rychlewski would be departing in November to pursue a new opportunity.
Wall Street expects the company to report second-quarter adjusted earnings of 65 US cents per share up from 27 US cents a year ago. Revenue is expected to have surged to US$28.74-billion, more than double what it earned in the comparable quarter one year ago. By comparison, S&P 500 companies overall are expected to deliver just 5-per-cent growth in revenue for the quarter, according to FactSet.
The conglomerate sold about 24.7 million shares of the lender between Aug. 23 and Aug. 27, according to a regulatory filing on Tuesday.
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