TORONTO — Five things to watch for in the Canadian business world in the coming week:
Canadian National Railway Co. releases its first-quarter results and holds a conference call on Monday. The railway and its rival Canadian Pacific are engaged in a fight to buy U.S. railway Kansas City Southern.
February retail sales
Statistics Canada will release retail trade figures for February on Wednesday. Retail sales fell for a second consecutive month in January as many non-essential retailers were forced to restrict in-person shopping due to the pandemic, but indications have pointed to a rebound in February as the restrictions eased.
BCE holds a conference call to discuss its first-quarter results on Thursday. Canada’s biggest wireless network operators suffered a major setback earlier this month when the CRTC issued orders that will make it easier for smaller rivals to compete, which in turn will likely reduce costs for mobile phone users.
Statistics Canada will release GDP by industry figures for February on Friday. The agency reported that the Canadian economy grew 0.7 per cent in January in the face of severe public health restrictions. A preliminary estimate for February pointed to growth of 0.5 per cent for the month.
Resolute Forest Products will release its first-quarter results and hold a conference call on Friday. Western SPF (spruce, pine, fir) lumber prices closed above US$1,000 for the first time in February despite lower sales due to the seasonal construction slowdown and the effect of extreme cold weather in Canada and the U.S. on sawmills and shipping.