Stock news: Couche-Tard and BlackBerry post gains, Metro flags strike impact

The Laval, Que.-based company, which keeps its books in U.S. dollars, says its total revenue came in at US$19.5 billion, rising year-over-year from US$16.27 billion. The company says higher average fuel selling prices helped to increase revenue during the period. 

Couche-Tard says its total merchandise and service revenue came in at US$4.5 billion, rising 7.7 per cent from US$4.19 billion. 

Couche-Tard CEO Alex Miller says the company’s strategy, which it unveiled in February, is driving strong momentum across its U.S. business. 

BlackBerry reports Q1 profit and revenue up, raises full-year revenue guidance

BlackBerry Ltd. reported a first-quarter profit of US$8.5 million, up from US$1.9 million in the same quarter last year, as its revenue rose 26%. 

The software company, which keeps its books in U.S. dollars, also raised its revenue outlook for its full year to between US$594 million and US$621 million, up from an earlier forecast for between US$584 million and US$611 million. BlackBerry shares jumped 16% or C$2.05 to C$14.31 in trading on the Toronto Stock Exchange.

Revenue for the quarter totalled US$152.9 million, up from US$121.7 million in the same quarter last year.

The company’s profit amounted to a penny US per share for the three months ended May 31 compared with zero cents US per share a year earlier.

On an adjusted basis, BlackBerry says it earned four cents US per share in its latest quarter compared with an adjusted profit of two cents US per share a year ago.

Metro says ongoing strike in Laval, Que., will take a bite out of Q3 earnings

Metro Inc. says the ongoing strike at its Laval, Que., fresh produce distribution centre is weighing on its third-quarter sales. The grocer says its adjusted earnings per share is estimated to be between $1.22 and $1.27 for its third quarter, compared with $1.52 in the same quarter a year ago. 

The grocer says its food same-store sales for the first 14 weeks of its 16-week third quarter were down 1.5%, compared to the corresponding weeks last year. 

The company has been incurring incremental costs from its contingency plan to keep fresh produce on store shelves as the strike drags on. The company will report its third-quarter earnings on Aug. 12.

Metro says the union rejected its latest offer presented earlier this month. The union came back with a counteroffer today, which the grocer said it could not agree to.

Metro’s Laval distribution centre employs 550 unionized workers and provides fresh produce to about 300 stores in Quebec.

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