19:20:58 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,765,296,674
Close 2024-03-25 C$ 80.96
Market Cap C$ 142,918,418,727
Recent Sedar Documents

Globe/CP say TD, rivals see January retail sales slip

2024-03-25 07:44 ET - In the News

Also In the News (C-BMO) Bank of Montreal
Also In the News (C-BNS) Bank of Nova Scotia
Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-NA) National Bank of Canada
Also In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Saturday edition that according to Statistics Canada, a decline in new car sales contributed to a 0.3-per-cent decrease in retail sales, which totalled $67-billion in January. A Canadian Press dispatch to The Globe reports that Statscan reported that of the nine subsectors it tracks, three experienced a decline in sales, with motor vehicle and parts dealers recording a 2.4-per-cent drop, marking the first decrease in five months for this category. Sales at new car dealers fell by 3 per cent, while used car dealers saw a 4.5-per-cent increase in sales. Despite the decline in retail sales, economists noted that January had a positive highlight: core retail sales that exceeded their expectations. Core retail sales increased by 0.4 per cent in January. The rise was mainly due to higher sales at sporting goods, hobby, musical instrument, book and miscellaneous retailers, which saw a 3-per-cent increase. TD economist Maria Solovieva says, "This indicates a solid momentum in spending." The momentum is partly due to what Ms. Solovieva calls a "wealth effect," where recent gains in the financial markets and lower growth in liabilities have raised Canadian households' wealth.

© 2024 Canjex Publishing Ltd. All rights reserved.