TORONTO — Five things to watch for in the Canadian business world in the coming week:
Resources sector update
Miner Barrick Gold Corp. reports its second-quarter earnings this week, followed by Lundin Mining Corp. on Tuesday. Barrick released an update last month indicating it is on track to achieve its production targets for the year even as copper prices pulled back. Lundin is likely to face questions after a sinkhole was detected at a Chilean mining site last week.
State of commercial real estate
Several REITs are scheduled to release second-quarter financial results, with RioCan real estate investment trust set for Tuesday. Public health restrictions on shops and restaurants made the pandemic a difficult time for the sector, but RioCan CEO Jonathan Gitlin said in June that he’s now seeing much less ambiguity in the retail sector.
Food inflation and grocers
Expect to learn more about how food inflation is affecting the bottom line for Canadian grocery stores when Metro Inc. releases its third-quarter results on Wednesday. Metro competitor Loblaw said last month that its customers were less eager to spend on its Joe Fresh clothing line and other non-food products.
Entertainment budgets
Cineplex Inc. is scheduled to report its second-quarter results and discussion with analysts on Thursday. The cinema and entertainment company saw a significant revenue climb in the first three months of the year compared with 2021, when many movie theatres were closed or operating at reduced capacity.
Investors keep eye on Brookfield
Investors will be keeping a close eye as Brookfield Asset Management Inc. reports its latest quarterly earnings before the bell on Thursday. In May, while releasing its Q1 results, the company announced it would be spinning off its asset management business into a separate publicly listed company.
This report by The Canadian Press was first published Aug. 7, 2022.
