RBC earned $4-billion, or $2.74 per share, in the three months that ended April 30. That compared with $3.68-billion, or $2.60 per share, in the same quarter last year.
RBC said that it is on track to meet its target cost savings of $740-million by combining HSBC’s platforms and services with its own. “AltaGas and Royal Vopak are pleased to announce a positive final investment decision,” the companies said in a joint release. Asset manager Brookfield said it is in discussions to acquire a 53.32-per-cent stake for 39.85 euros per share from Neoen’s main shareholders, and then the remainder of the company at the same price, according to a joint statement by the companies.
Like other PC makers, HP experienced a boom in sales during the pandemic as consumers, businesses and schools stocked up on tech products and then a subsequent two-year sales slump. That slump is just now easing. HP posted second-quarter revenue of US$12.8-billion, above analysts’ average estimate of US$12.6-billion, according to LSEG data.
While consumers in the United States are still shy on big-ticket discretionary spending, Best Buy is hoping to see sales normalize this year as shopping for electronics gets a boost from consumers looking to upgrade or replace their gadgets after more than two years of restraint on spending on electronics.
Best Buy said in February that it ended fiscal year 2024 with 1.2 million new members and that increased profitability through the program added about 45 basis points of total year-on-year operating income expansion in fiscal 2024. Dollar General’s same-store sales rose 2.4 per cent for the quarter, compared with analysts’ average estimate of a 1.61-per-cent increase, according to LSEG data.
“Weak bookings in Q1 further test investor patience as the GenAI innovation cycle has yet to inflect top-line results and now increasingly becomes a point of competitive concern,” Morgan Stanley analysts said in a client note. American shoppers are still prioritizing essential purchases over discretionary products like apparel, electronics and home goods, as they face dwindling pandemic-era savings and higher interest rates.
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