|Bid||1.8100 x 0|
|Ask||1.8400 x 0|
|Day's Range||1.8000 - 1.8600|
|52 Week Range||1.8000 - 4.7700|
|Beta (5Y Monthly)||3.18|
|PE Ratio (TTM)||90.50|
|Earnings Date||Dec. 05, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.09|
TORONTO , Jan. 6, 2020 /CNW/ - Trading resumes in: Company: Roots Corporation TSX Symbol: ROOT (All Issues) Resumption (ET): 8:00 AM IIROC can make a decision to impose a temporary suspension (halt) ...
Roots Canada chief executive Jim Gabel has left the company effective immediately, as the board of directors expressed a need for "renewed leadership", the retailer said Friday.The company's board of directors has appointed Meghan Roach as the retailer's temporary chief executive. Roach has served as interim chief financial officer for the company since August and is a previous board member for the retailer.She replaces Gabel, who has served in the top post since February 2016.The company did not say why Gabel left the position, but board chair Erol Uzumeri said in the statement that "the board believes that Roots requires renewed leadership to carry the company into its next phase — executing on profitable growth opportunities while enhancing operational efficiency."The company downgraded its sales expectations for its current financial year in December when it reported its most recent quarterly earnings. The move came as the retailer grapples with a shortened holiday shopping period and other challenges.It declined to provide a new sales guidance figure, but previously anticipated sales for the year to total between $358 million and $375 million.The company is currently in the fourth quarter of its 2019 financial year.Uzumeri thanked Gabel "for his many contributions" and offered well wishes for his future endeavours.The board has engaged a leading international search firm to find a permanent replacement, the company said.Gabel is the second top executive to leave the company since August.The company's former chief financial officer Jim Rudyk resigned in May, but stayed on in the role until early August.At the time, the company said Rudyk "resigned to pursue an opportunity at a private, family-owned food services company." He now serves as executive vice president and CFO for Markham, Ont.-based Sofina Foods Inc., according to his LinkedIn profile.While Roach has served as interim CFO, the company announced in December it had appointed Mona Kennedy to the role. She will start by the end of the company's first quarter of its 2020 financial year.This report by The Canadian Press was first published Jan. 3, 2020.Companies in this story: (TSX:ROOT)Aleksandra Sagan, The Canadian Press
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,996.97, up 142.05 points.)Encana Corp. (TSX:ECA). Energy. Up 16 cents, or 3.08 per cent, to $5.35 on 6.88 million shares.Manulife Financial Corp. (TSXLMFC). Financial Services. Up 35 cents, or 1.39 per cent, to $25.45 on 5.24 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 2.59 per cent, to $1.98 on 5.17 million shares.Canadian Natural Resources Ltd. (TSX:CNQ) Energy. Up $2.00, or 5.42 per cent, to $38.91 on 5.04 million shares.Cenovus Energy Inc. (TSX:CVE). Energy. Up 88 cents, or 7.69 per cent, to $12.33 on 4.72 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Up 19 cents, or 4.12 per cent, to $4.80 on 4.52 million shares.\---Companies in the news:Roots Corp. (TSX:ROOT). Down two cents, or about 0.96 per cent, to $2.06 on about 318,000 shares. Roots Corp. downgraded its sales expectations for the current financial year to an undisclosed range from a previously disclosed anticipated total between $358 million and $375 million. The clothing retailer is grappling with a shortened holiday shopping period and other challenges.Hudson's Bay Co. (TSX:HBC). Down nine cents, or roughly 0.98 per cent, to $9.13 on about 148,000 shares. New York-based Ortelius Advisors L.P. has filed a lawsuit at the Ontario Superior Court of Justice against Hudson's Bay Co. and the group making the privatization bid led by the retailer's executive chairman Richard Baker, alleging they did not act in the interest of shareholders, among other things. HBC deferred comment to representatives for a special committee it formed to review the offer, who did not immediately respond. None of the claims have been proven in court.Canopy Growth Corp. (TSX:WEED). Up 21 cents, or about 0.86 per cent, to $24.72 on about one million shares. Canopy Growth Corp. says its new generation of cannabis-infused food and beverage products won't be on store shelves until January in most markets. The Ontario-based company says it's not allowed to sell its new product formats into distribution channels until Dec. 16 and it will roll out products in a staged fashion from then to ensure a smooth rollout.This report by The Canadian Press was first published Dec. 6, 2019.The Canadian Press
Apparel retailer Roots Corp. downgraded its sales expectations for the current financial year as it grapples with a shortened holiday shopping period and other challenges."We're uncertain how the consumer is going to respond to that shortened period," said CEO Jim Gabel in a conference call with analysts Friday morning after the company released its third-quarter financial results.This year, shoppers face a crunched gift-getting time frame with only a little over three weeks between Black Friday and Christmas Day. Last year, when American Thanksgiving fell a week earlier on Nov. 22, shoppers had more than four weeks to buy presents.Roots noted its same-store sales, a key retail metric, is positive .But Roots declined to provide a new sales guidance figure. The company previously anticipated sales for the year to total between $358 million and $375 million.Also weighing on sales is the company's ability to get the right products in the right place at the right time, said Gabel.The company moved to a new distribution centre recently where it continues to face inefficiencies, he said, including delays in product flow to stores. Those delays are also driving up costs.The expected slower sales were announced as the company reported its third-quarter earnings dipped from last year and came in below its target range.Roots reported net income of $1.97 million, or five cents per share in the quarter ending Nov. 2, down from $2.8 million or seven cents per share for the same quarter last year. Analysts had expected earnings of $4.3 million, or eight cents per share, according to financial markets data firm Refinitiv.The company's third-quarter sales totalled $86.4 million compared to $87 million in the same quarter the previous year.Corporate-owned stores and e-commerce sales grew 4.6 per cent from $70.7 million in the third quarter of 2018 to $73.9 million in the most recent quarter.In the U.S., where the company had seven corporate-owned stores by the end of the quarter, Roots says its new stores are performing well below expectations.The company is encouraged by its American e-commerce business, and its two legacy stores remain very profitable, said Gabel.However, the company's new stores have yet to build a community following, like the brand enjoys in Canada, he said.Growth in sales at corporate-owned stores was offset by a $3.8 million or 23.5 per cent fall in partner and other sales, which totalled $12.4 million down from $16.3 million. That drop came from some deliveries to a partner in Asia made a quarter earlier than initially planned, as well as macro-economic and geopolitical headwinds in Asian markets.That shortfall is expected to persist in the fourth quarter, said Gabel."The macroeconomic headwinds that we face in those markets, I think, are well-known," said Gabel, citing an upcoming election in Taiwan and ongoing unrest in Hong Kong.The company ended the quarter with 114 partner-operated stores in Taiwan, 35 in China and one in Hong Kong.Same-store sales grew three per cent in the quarter.The company also announced the immediate resignation of the company's chief merchant, Nancy Lepler, for personal reasons. Roots will launch an immediate search for a replacement, the company said.This report by The Canadian Press was first published Dec. 6, 2019.Follow @AleksSagan on Twitter.Companies in this story: (TSX:ROOT)Aleksandra Sagan, The Canadian Press
An accomplished retail industry finance executive, Ms. Kennedy brings with her extensive experience in finance, planning and analysis, capital markets, IT implementation, as well as corporate strategy development and execution. "Mona is a talented senior executive whose financial acumen and retail industry experience will be an incredible asset to the company," said Jim Gabel , President and CEO, Roots.
TORONTO, Nov. 12, 2019 /CNW/ - Roots ("Roots," "Roots Canada" or the "Company") (TSX:ROOT.TO - News), a premium outdoor lifestyle brand, today announced the launch of its holiday 2019 campaign, Nice Together, which, through a captivating video, candid portrait series and accompanying first-hand narratives, showcases the moments that bring people together and the bonds that keep them connected. "Through the diverse group of people we worked with, our Holiday 2019 campaign reminds us that when we come together nice things happen. To bring the Nice Together campaign to life, and as a reminder that everyone needs more Nice in their life, Roots has released a video that shares the heart-warming footage of a cast of more than 50 friends and customers of the brand.
Clothing stocks like Canada Goose Holdings Inc. (TSX:GOOS)(NYSE:GOOS) and Roots Corporation (TSX:ROOT) look risky right now.