Tim Hortons says a record-breaking $22.6 million was raised through the sales of Smile Cookies this year, supporting over 600 charities and community groups across Canada and in the United States.
Axel Schwan
“We’re so grateful for the outpouring of support for this year’s Smile Cookie campaign from Tims guests across Canada. Thanks to your incredible generosity we topped our previous Smile Cookie record,” said Axel Schwan, President.
“A huge thanks to every single Tim Hortons restaurant owner, team member and volunteer who collectively helped to bake and hand-decorate millions and millions of cookies. Your dedication and enthusiasm represents the kind of deep care for our local communities that Canadians can rely on from Tim Hortons.”
Tim Hortons Smile Cookie campaign raised record-breaking $22.6 million this year for over 600 local charities and community groups (CNW Group/Tim Hortons)
Since the first-ever Smile Cookie campaign in 1996, the annual charitable campaign has raised a total of more than $151 million for charities and community groups, which are selected every year by the company’s restaurant owners. Recipients include local hospitals, community care organizations, food banks and schools, said the company.
Restaurant owners will be presenting their charity partners with Smile Cookie cheques over the coming weeks.
For a full list of local charities and community groups benefiting from the annual Smile Cookie campaign, visit www.timhortons.ca/smile-cookie.
In 1964, the company’s first restaurant in Hamilton opened its doors. It is Canada’s largest restaurant chain operating in the quick service industry with nearly 4,000 restaurants across the country.
Peter Mammas, President and CEO of Foodtastic, left, traveled to Shanghai in April (2025) with Jacques Houle, right, CEO of NGU-Group, to finalize the signing of a development agreement between the two entrepreneurs to develop Benny Rotisseries, a Foodtastic restaurant chain, across China. NGU-Group will open its first two establishments in Shanghai this fall. PHOTO: Foodtastic
Canadian restaurant franchisor Foodtastic has signed an exclusive franchise development agreement with NGU-Group for the expansion of Quebec-based Rotisseries Benny across Asia, starting with China. The deal marks a milestone in Canadian restaurant history, as Benny becomes the first Quebec restaurant chain to establish a national presence in China.
The first two locations are set to open this fall in Shanghai, one of the largest and most dynamic cities in the country. With long-term ambitions to expand across China, NGU-Group’s goal is to introduce the Benny brand — known for its slow-roasted chicken, bold BBQ sauces, and classic Quebec poutine — to millions of new consumers.
Quebec Roots, Global Ambitions
Rotisseries Benny was founded in 1960 by a family of poultry farmers and has grown to become a Quebec institution. The restaurant chain built its name on a signature offering of juicy rotisserie chicken, savoury sauces, and a fast-service model ideal for families and working professionals. Its popularity among generations of Quebecers laid the foundation for what is now a major international push.
In 2019, Benny was acquired by Foodtastic, a rapidly expanding Canadian franchisor based in Quebec. Foodtastic has since modernized and scaled the brand, while retaining its original recipes and values. The company now oversees a portfolio of 27 brands, including Second Cup, La Belle et La Bœuf, Freshii, Monza, Quesada, and Pita Pit, operating over 1,200 locations across Canada.
A Veteran of the Chinese Market
The strategic partnership in China is led by Jacques Houle, President and CEO of NGU-Group. Based in Boisbriand, Quebec, Houle is a seasoned entrepreneur with over 30 years of business experience in China. He is best known for introducing high-quality imported goods into North America, including Forno, a brand of luxury kitchen appliances distributed widely across the continent.
“For more than half a century, Quebecers have faithfully and regularly returned to Benny for their delicious chicken, savory BBQ sauces, legendary poutine, and extensive menu,” said Jacques Houle. “I myself became a loyal customer years ago. Having worked with China for over 30 years, I have seen that the Chinese have a great love for roasted chicken, and I developed the conviction that they would absolutely love our style of chicken – the way we have adopted rotisserie cooking in Quebec and the types of BBQ sauces we have developed over the decades. And Benny has mastered these recipes throughout its history.”
Houle’s deep understanding of China’s business environment and consumer habits gives NGU-Group a strategic edge. He emphasized that China’s vast geography — comprising 1.4 billion people, 620 cities, 262 airports, and over 5,000 train stations — presents unparalleled opportunity for growth.
Building a National Footprint
NGU-Group plans to develop a robust franchise network across China, leveraging local knowledge, operational expertise, and strong brand identity. The company will start with flagship locations in Shanghai to build awareness and establish credibility before scaling to other cities.
“Driven by a passion for hospitality and food, and committed for the long term, NGU-Group plans to build a strong franchise network across China — offering Chinese consumers the premium roasted chicken experience that Quebecers have delivered and enjoyed for over 60 years,” said Houle.
The company is aiming to differentiate itself by importing not only its core product offering, but also its culture of hospitality and emphasis on quality.
Market Ready for Quebec’s Favourite Chicken
Peter Mammas, President and CEO of Foodtastic, recently travelled to Shanghai to assess market readiness and meet with NGU-Group’s team.
“We’re very excited to have joined forces with Jacques Houle and his team to bring the Benny experience to customers in China,” said Mammas. “I just returned from a visit to Shanghai and saw firsthand how ripe and open the market is to our rotisserie-style menu. We are confident that customers across China will appreciate the traditional recipes that we and the original founders have carefully crafted over the years.”
The collaboration will see Foodtastic supporting NGU-Group with brand direction and product integrity, while NGU-Group handles franchise development, market adaptation, and operations on the ground.
A Bold New Chapter for Benny and Foodtastic
Foodtastic’s international expansion strategy is taking shape as the company looks beyond Canada to new markets hungry for authentic and established restaurant concepts. The Benny announcement is a flagship moment, underscoring Foodtastic’s ambitions to become a global player in the food service industry.
“Rotisseries Benny holds a special place in the hearts of many Quebec families,” said Mammas in a statement. “Bringing that tradition to a global audience is an exciting next chapter for the brand.”
As NGU-Group prepares to launch in Shanghai later this year, the broader Canadian restaurant industry will be watching closely. If successful, the move could open the door for more homegrown restaurant concepts to scale internationally, particularly in high-growth markets like China.
About Foodtastic
Headquartered in Quebec, Foodtastic is one of Canada’s leading restaurant franchisors. With over 1,200 locations and a portfolio of 27 brands, the company has become a significant force in the Canadian restaurant landscape. Its strategy focuses on combining local brand heritage with operational scale, enabling the growth of both regional favourites and national powerhouses.
Through bold leadership, strategic partnerships, and an eye for innovation, Foodtastic continues to grow its influence both at home and abroad.
Chatham's Value Drug Mart - Chatham, Ontario (CNW Group/Pharmacy Brands Canada)
Pharmacy Brands Canada has opened its 250th banner location in Canada, marking a major milestone for the organization.
“This significant expansion reflects our commitment to delivering accessible, high-quality healthcare services to communities nationwide. We are proud to partner with all our member locations—providing the tools, resources, and dedicated support they need to achieve their individual goals,” said the company in a news release.
“Our expansion in Ontario continues with the official opening of the first Value Drug Mart in the province—a trusted and historic brand well-established in Western Canada—and the introduction of the Peoples Pharmacy banner. These new additions strengthen our presence in Ontario and reinforce our dedication to serving Canadian patients with excellence.”
“Our banner members are passionate and deeply committed to patient care, and we are honoured to reach this milestone with them as partners in this journey,” said Jon Johnson, CEO of Pharmacy Brands Canada. “We look forward to continuing to grow and serve our communities with the utmost care and professionalism.”
With a robust network of 250 locations now spanning coast to coast, Pharmacy Brands Canada said it proudly showcases its enduring dedication to fostering innovation, upholding excellence in healthcare delivery, and maintaining a deep-rooted commitment to the sustained success of independent pharmacies across the nation.
“We are also proud to be a Canadian company that partners exclusively with Canadian-owned wholesalers. We look forward to continuing to support our pharmacy owners and the patients they serve from coast to coast,” it said.
A new survey conducted by Leger between May 2 and May 4, 2025, reveals mounting concerns among Canadians and Americans regarding rising consumer prices, largely attributed to the ongoing trade tensions and tariffs imposed under the Trump administration. The survey provides insights from 1,626 Canadian and 1,014 American respondents, offering a detailed snapshot of shifting consumer sentiment.
An overwhelming 78% of Canadians surveyed believe that consumer prices have increased in recent weeks, marking a four-percentage-point increase from the prior wave of the study. Regional differences were evident, with Quebec respondents most likely to report rising prices at 85%, followed by Ontario at 78%. The perception was lowest in Alberta, where 70% agreed prices had increased. Both men and women shared similar views, with women slightly more inclined to note price hikes (81%) compared to men (76%).
At the same time, a growing number of Canadians are turning to locally made products, with 73% reporting an increase in purchases of Canadian-made goods. The trend was strongest among voters aligned with the Liberal Party (86%) and Bloc Quebecois (85%), compared to 62% among Conservative Party supporters.
Additionally, Canadian consumers are taking tangible steps to reduce their dependence on U.S. goods. The study found 67% have decreased their in-store purchases of American products, 63% have reduced online purchases, and 54% have bought fewer products in general on the Amazon platform. Notably, 50% reported cutting back on visits to American fast-food chains, and 45% said they had reduced spending at American-owned retail chains.
Americans Also Feel the Squeeze
South of the border, 73% of Americans reported noticing increased prices, up four percentage points since the previous survey wave. Political affiliation played a noticeable role: 88% of Democrats perceived price hikes, compared to just 54% of Republicans. Regionally, price perception was consistently high across the U.S., ranging from 67% in the Midwest to 75% in the Northeast and South.
The impact of tariffs is not only being felt at the checkout counter. Job security fears are climbing sharply among American workers. Forty-six percent of employed Americans are worried about losing their jobs within the next year, a five-percentage-point increase. Of those, 22% are very concerned. This contrasts with Canadian workers, where 38% expressed concern.
Support and Concern Over Tariff Measures
Despite the challenges, Canadians broadly support their government’s response to U.S. tariffs. The survey showed that 69% of Canadians support a dollar-for-dollar retaliatory approach, with strong backing from Bloc Quebecois and Liberal voters. Conversely, 18% of Canadians oppose retaliatory tariffs.
However, Canadians are deeply pessimistic about the potential economic fallout. A staggering 83% believe Trump administration tariffs will negatively affect Canada’s economy, while only 8% believe the impact could be positive.
In the United States, opinions on the effects of tariffs on the domestic economy are more divided. Fifty-two percent of Americans view the tariffs as having a negative impact, while 29% believe they will benefit the U.S. economy.
Personal Financial Impact Looms Large
The perception of personal financial strain is acute. In Canada, 89% of respondents believe the tariffs will affect their personal finances, with 28% forecasting a major impact. American respondents were slightly less concerned, though still high, with 82% expecting some level of personal financial impact.
Living paycheque to paycheque remains a pressing issue. In Canada, 44% of respondents reported this reality, with higher rates in Manitoba/Saskatchewan (54%) and Alberta (50%). In the U.S., the figure rose to 55%, with especially high concern in the South and West regions.
Economic Fears Mount Amid Uncertainty
Beyond immediate financial worries, long-term fears about the overall health of the economy are intensifying. Half of Canadian respondents believe the country is already in a recession, a perception that is particularly acute in Ontario (55%) and among Canadians aged 35 to 54 (56%). This economic pessimism also crosses into the United States, where 52% of Americans share the belief that the U.S. economy is in recession. Notably, the political divide is stark: 70% of Democrats believe the U.S. is in recession compared to just 34% of Republicans.
Adding to the unease, job security concerns are escalating. In Canada, 38% of employed respondents expressed worry about potential job loss, with 13% stating they are very concerned. American workers expressed even higher levels of anxiety, with 46% fearing job loss and over one-fifth indicating severe concern.
These figures reflect an atmosphere of heightened economic vulnerability on both sides of the border. Consumers and workers alike are bracing for potential economic headwinds, with many adjusting their spending behaviours and contingency plans accordingly. As inflationary pressures persist and the tariff dispute shows no immediate resolution, the outlook remains clouded by caution and a lack of confidence in economic stability.
Conclusion
As tariffs and trade tensions continue to escalate, consumers on both sides of the border are feeling the pressure in their wallets and their confidence in the broader economy. The data suggests that Canadians, in particular, are actively shifting their buying habits away from American products and toward domestic alternatives. With price perceptions and job security concerns rising, this evolving landscape may significantly alter the retail and economic environment in both nations.
Julie Pouliot, Chair of the Board, Home Hardware Stores Limited, Ian White, President and CEO, Home Hardware Stores Limited and Christine Hand, Former Chair of the Board, Home Hardware Stores Limited (CNW Group/Home Hardware Stores Limited)
Home Hardware Stores Limited, Canada’s largest Dealer-owned home improvement retailer, has appointed Julie Pouliot as Chair of the Board. She succeeds Christine Hand, who has retired after 22 years of service on the Board, including 13 years as Chair.
Ian White
“We are fortunate to have someone of Julie’s experience and commitment as Chair of our Board,” said Ian White, President and CEO.
“Her in-depth knowledge of our Dealer network—the foundation of our business— and strong operational background position her well to provide leadership in shaping Home Hardware’s next chapter of strategic growth and development.”
The company said Pouliot is a seasoned industry expert with over 22 years in the home improvement retailing sector, owning and operating three locations in northern Ontario. Pouliot has served on the Board of Directors for 10 years, in positions such as Chair of the Corporate Governance and Nominating Committee and Chair of the Human Resources and Compensation Committee.
“I am honoured that the Board has put their trust in me to lead the company at such a pivotal moment in Home’s history,” said Pouliot. “As a genuinely Canadian company known for exceptional customer service and a deep commitment to local communities, I believe that (the company’s) strong track record of success will continue as we focus on the needs of our Dealers and customers from coast to coast.”
“We are grateful to Christine Hand for her vision, wisdom and steady guidance,” said White. “Home Hardware has immensely benefited from her many contributions to the Home Hardware enterprise, and we wish her all the best in her retirement from the Board.”
Founded 60 years ago in St. Jacobs, Ontario, the company is Canadian and the country’s largest Dealer-owned and operated home improvement retailer with more than 1,000 stores operating under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners.
Rocky Mountain Bicycles, one of Canada’s most recognized mountain bike manufacturers, has entered a new era following its acquisition by Chaos Sports Inc., a group of four Canadian entrepreneurs. The new ownership group has pledged to honour the legacy of the West Coast brand while rebuilding its global footprint and resuming its R&D operations in North Vancouver—the birthplace of modern freeride mountain biking.
The acquisition marks a turning point for the 43-year-old company, which filed for creditor protection in late 2024 amid a combination of financial and operational challenges. The transition is being framed as both a return to Rocky’s roots and a move toward long-term sustainability under experienced Canadian leadership.
Returning to the North Shore
As part of the revitalization effort, Rocky Mountain will re-establish its research and development hub in North Vancouver. This move signals a homecoming for the brand, which owes much of its international reputation to the challenging terrain and mountain biking culture of British Columbia’s North Shore.
The new owners have stated that the company’s rider-first design ethos and deep integration with the trail-building and mountain biking communities will remain central to its mission. In addition to investing in new product development, the group has reaffirmed its commitment to the performance and durability standards that have defined Rocky’s bikes for decades.
Photo: Rocky Mountain Bicycles
Meet the New Owners: Canadian Expertise in Outdoor and Distribution Sectors
Chaos Sports Inc. brings together four seasoned professionals from Canada’s outdoor and sporting goods industries, each contributing a unique set of skills that align with the needs of Rocky Mountain Bicycles.
Jonathan Bourgeois is known for co-founding Raccoon Skis and is a partner at Maui Bikes, a Quebec-based e-bike company. He brings deep experience in product innovation and outdoor culture, which will be critical as Rocky Mountain looks to refresh its lineup and expand into new markets.
Christian Thibert serves as president of Thibert Inc., a major player in North American distribution. His extensive background in logistics and retail strategy is expected to strengthen Rocky Mountain’s operational foundation and support its ambitions for scaled international growth.
Patrick St-Denis brings brand development expertise shaped by roles at Oakley and The North Face. His understanding of global branding and consumer engagement will be instrumental in modernizing Rocky Mountain’s marketing approach while preserving its core identity.
Jean-François Grenache rounds out the team with a strong reputation for turning around brands in challenging markets. His leadership experience is expected to play a key role in revitalizing Rocky Mountain’s business operations post-restructuring.
Together, the ownership group aims to restore stability, reinforce the company’s Canadian roots, and position the brand for long-term success in the global cycling industry.
From Grassroots Beginnings to Global Influence
Founded in 1981, Rocky Mountain Bicycles has played a pivotal role in the evolution of mountain biking in Canada and abroad. Its origins trace back to 1978, when three cycling enthusiasts—Grayson Bain, Jacob Heilbron, and Sam Mak—began modifying Nishiki road bikes to handle the demanding trails of the British Columbia backcountry. Collaborating with frame builder Tom Ritchey, they launched Canada’s first purpose-built mountain bike, the Sherpa, in 1982.
Over the following decades, Rocky Mountain became synonymous with innovation and performance. Milestones included the 1989 launch of the Stratos, its first aluminum production bike, and the 1993 creation of Race Face Bicycle Components to support high-performance cycling parts. Technologies like the Ride-9 geometry adjustment system and RTC (Race Tuned Concept) reinforced the brand’s image as a leader in performance customization.
Rocky Mountain was acquired by Quebec-based Procycle Group in 1997. Although it maintained its Vancouver-based operations, the acquisition allowed for expanded distribution and manufacturing capabilities. In 2018, Procycle rebranded itself as Rocky Mountain to unify its identity and simplify marketing efforts globally.
Despite efforts to streamline operations, the company faced mounting challenges in the years that followed—particularly in the post-pandemic market environment.
Photo: Rocky Mountain Bicycles
Financial Crisis and CCAA Filing
On December 19, 2024, the company’s parent entity, RAD Industries Inc., filed for protection under Canada’s Companies’ Creditors Arrangement Act (CCAA). With debt totalling approximately CAD $70 million, the filing marked a critical juncture in the company’s history.
Two key factors contributed to Rocky Mountain’s financial instability:
Supply Chain Disruptions During the Pandemic: While demand surged for outdoor recreation during the COVID-19 pandemic, supply chain breakdowns hindered Rocky Mountain’s ability to source critical components. This imbalance led to soaring production costs.
Post-Pandemic Market Decline: As demand normalized, bicycle prices dropped significantly. Combined with earlier inflated production costs, the company’s profit margins deteriorated rapidly.
In response to these pressures, Rocky Mountain implemented workforce reductions, including layoffs at its North Vancouver headquarters. Nonetheless, the company maintained operational continuity for warranty claims, technical support, and parts during the restructuring period.
Court Oversight and Strategic Sale
The CCAA proceedings were overseen by the Superior Court of Québec (Commercial Division), with Ernst & Young appointed as the court monitor. Under the court-supervised Sales and Investment Solicitation Process (SISP), Rocky Mountain actively sought buyers and investors to secure a viable future.
The sale to Chaos Sports Inc. was finalized in May 2025. The group’s bid was selected for its alignment with the brand’s identity, experience in outdoor and cycling sectors, and commitment to revitalizing operations in British Columbia.
Looking Ahead: A Canadian Comeback
The new owners have not released detailed financial terms of the transaction, but have confirmed that the brand will continue to operate under the Rocky Mountain name. Immediate priorities include restoring the North Vancouver R&D centre, stabilizing supply chains, and building global partnerships.
The acquisition signals a renewed focus on product innovation, grassroots engagement, and expansion into international markets where demand for high-performance mountain bikes remains strong. With a foundation built on trail-tested durability, Canadian identity, and a loyal rider community, Rocky Mountain Bicycles now enters a new era with ambitious plans to ride further and faster than ever before.
FiiZ Drinks at Dufferin Mall in Toronto. Photo: Craig Patterson
FiiZ Drinks, the Utah-based soda chain known for its highly customizable “dirty soda” creations, has officially made its Canadian debut at Toronto’s Dufferin Mall—and it’s only the beginning. Founder Brands, which owns the exclusive Canadian rights to the brand, plans to open up to 100 FiiZ locations over the next 10 years through a franchise-based model.
“This is a category that’s already buzzing on social media in the U.S., especially with Gen Z and millennials,” said Adam Corrin, Co-Founder of Founder Brands, in an interview with Retail Insider. “We saw a white space in the Canadian market—nobody’s doing custom soda here like this—and we knew we had something special.”
A Strategic First Location
The first Canadian FiiZ opened as a compact 200-square-foot kiosk at Dufferin Mall in west Toronto. Corrin said the location was chosen for its proximity to high schools, walkable traffic, and strong Gen Z demographics.
Adam Corrin
“There are three high schools within a five-minute walk and two more within ten minutes,” he explained. “We get this huge rush of students at lunch hour and again after school. And the mall employees have also become a core customer group for us.”
The small footprint is by design. “From a real estate model, we can go as small as 200 square feet or scale up to 1,200 square feet with drive-thru capability,” Corrin added. “Very few food and beverage brands can operate at that level of efficiency.”
A Category Poised for Canadian Growth
The “dirty soda” phenomenon—mixing traditional soft drinks with flavoured syrups, fruit purées, and cream—originated in Utah and has since gained massive popularity through platforms like TikTok. Although the trend is still in its infancy in Canada, Corrin sees parallels with other beverage waves that preceded it.
“Every five to seven years, we see a new movement in beverages,” he said. “It was boutique coffee shops, then smoothie bars, then bubble tea. Right now, dirty soda is the moment—and there’s no major competition for it in Canada yet.”
FiiZ already operates more than 70 locations in the U.S. and has developed a strong digital following that Corrin believes will translate well north of the border. “People are discovering the brand online through influencers or U.S. shows like Real Housewives of Salt Lake City, and now they can finally try it here.”
FiiZ Drinks at Dufferin Mall in Toronto. Photo: Craig Patterson
Franchise Model Tailored for Scalability
Founder Brands is looking to build the FiiZ footprint primarily through franchising. “We believe in the power of local ownership,” Corrin said. “Canadians want to support entrepreneurs in their own communities.”
With a labour-light operational model (requiring just two to three staff per location) and no need for hoods, grills, or fryers, FiiZ is appealing to landlords and franchisees alike. “It’s incredibly scalable,” Corrin explained. “And our franchisees can feel confident in bringing something unique to their neighbourhood.”
Corrin noted that while additional corporate-owned stores are likely, the national rollout will be “largely franchisee-led.”
Menu at FiiZ Drinks, Dufferin Mall in Toronto. Photo: Craig Patterson
Fast, Fun and Instagrammable
One of FiiZ’s key selling points is speed: the average time between placing an order and receiving a drink is under one minute. “That’s almost unheard of in the food and beverage space,” said Corrin. “It makes us ideal for mall kiosks, events, and even high-traffic transit locations.”
FiiZ also plays strongly into the social media culture that drives Gen Z trends. “These drinks are fun, colourful, and unique. Customers are constantly taking selfies or posting their drinks,” he said. “It’s organically Instagrammable, which is powerful marketing.”
Some of the most popular drinks include the “Sharks in the Water” (which features gummy sharks), “Over the Rainbow” (topped with rainbow ribbon candy), and “Frozen Hot Chocolate.” Corrin hinted that a hot drink lineup is also in development.
Photo: FiiZ Drinks
A Taste of Canada
While FiiZ’s base menu is consistent across markets—offering sodas like Coke, Dr Pepper, Mountain Dew, and Sprite with flavour add-ins—there is room for Canadian creativity.
“We’re using an 80/20 model,” Corrin said. “Eighty percent of the menu will be standardized across North America, but 20 percent will be locally tailored.”
That could mean a Toronto Raptors-inspired drink, flavours named after Canadian icons like Celine Dion, or even something “a little cheeky” like a maple-bacon soda. “We want to have fun with it,” Corrin added. “This is a joyful brand.”
FiiZ Drinks at Dufferin Mall in Toronto. Photo: Craig Patterson
Beverage Technology and Customization
Despite its novelty, the technology behind FiiZ’s drinks is straightforward. “We’re not locked into exclusive partnerships with Coke or Pepsi,” Corrin explained. “That gives us the flexibility to offer a variety of base sodas.”
Each drink is handcrafted by a “mixologist,” layering the soda base with flavours, creams, purées, and garnishes.
“There’s real complexity to the drinks,” said Corrin. “It’s not just a lime wedge in your Coke.”
Customization is a cornerstone of the FiiZ model. While most early customers order from the chef-designed menu boards, Corrin expects more creative combinations to emerge as Canadian customers get more familiar with the offerings.
Opportunities in Non-Traditional Venues
Corrin also sees potential for FiiZ to expand beyond traditional retail spaces.
“University campuses, airports, and sports arenas are all on our radar,” he noted. “We already have relationships with non-traditional operators like Aramark and Sodexo.”
According to Corrin, some universities have surveyed students about what food and beverage brands they’d like to see on campus—and dirty soda was one of the most requested categories. “That’s an amazing signal,” he said. “It shows the demand is already here, even if the product isn’t yet.”
Photo: FiiZ Drinks
Landlord Appeal and Flexibility
FiiZ is turning heads among commercial landlords as well. Corrin said property owners appreciate the minimal build-out requirements and the flexibility of the concept.
“There’s no need for venting, hoods, or grills, which makes it easier and faster to install,” he said. “Landlords are excited because we can activate smaller spaces and drive incremental traffic.”
Founder Brands’ Broader Vision
FiiZ joins a growing portfolio at Founder Brands, which also operates the Canadian rights for PayMore (a tech resale franchise), Gem Gallery (a jewellery concept), and Graze (a premium charcuterie box brand).
“We’re focused on building unique, under-served concepts in Canada,” said Corrin. “And we’re always on the lookout for the next great opportunity. If you have ideas, we’re listening.”
For now, the focus is on scaling FiiZ’s presence and supporting early franchisees. “We’re excited to bring this fresh new experience to more Canadians,” Corrin concluded. “And we’re just getting started.”
Entertained 8.4 million moviegoers and delivered $264.3 million in revenue
Delivered a record Q1 concession per patron (CPP) of $9.13
International programming represented 14.7% of Q1 box office, outperforming the domestic market
Impressive return of cinema advertising contributing to a 38% increase in media revenues and a Q1 cinema media per patron of $2.04
Increased Digital-Place-Based Media revenue by 26.5%
Ellis Jacob
“While the first quarter landed softer than expected due to March performance, the success of A Minecraft Movie at the start of the second quarter, paired with the optimism following CinemaCon, has energized the exhibition industry,” said Ellis Jacob, President and CEO, Cineplex.
“A highly engaged cinema audience coupled with a steady and predictable film slate is driving interest and investment from advertisers leading to a 38% growth in cinema media revenue. Our digital media business revenue grew by 26.5%, reaping the benefits of our expanded and established digital out of home national mall network, paired with project revenue growth.
“We generated record quarterly Location-Based Entertainment (“LBE”) revenue of 10.5% over the prior year, with the addition of three new locations at the end of 2024.
“With the impacts of the writers’ and actors’ strikes behind us in the first quarter, we’re excited by the robust and diverse film slate moving forward. The April box office delivered a remarkable 76% growth over the previous year.
“The breadth of major releases ahead is building meaningful momentum and reinforcing confidence across the industry. The growth and outlook of our industry positions us to return meaningful value to shareholders.”
Cineplex is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 172 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion).
It also operates successful businesses in cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media or CDM), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures).
Cineplex is a partner in Scene+, Canada’s largest entertainment and lifestyle loyalty program.
Retail experienced a tough year in 2024 and the outlook into 2025 does not look much better. At best, we are going back to more normal growth rates that were present before COVID.
There have been a few key highlights. The impacts of high inflation and high interest rates in the last couple of years have taken a toll on consumers and their pocketbook. It has forced the majority to focus on essentials, what is needed more than what is wanted – discretionary spending. This has forced most consumers to trade down. At the lower income levels, we have seen a strong rise in accessing food banks and the second hand/resale market. At the higher income levels, luxury brands’ continuous rise has stopped and we are now even witnessing drops in their revenues, due in large part to the loss of the aspirational consumer and the strong pushback on the significant, if not outrageous, price increases in the last few years on luxury goods.
Overall, this has been good news for value retailers such as Walmart, Dollar stores, … and the second hand, resale market. We have also witnessed the unstoppable rise of Shein and Temu. In recent years, these Chinese online sales giants have invaded the North American markets with their extremely low-priced products which have been well received by consumers looking for value.
A second reality of the current landscape is that technology is advancing more quickly than ever. Significant technologies for the retail industry include RFID’s new implementations in automated checkouts, virtual and augmented reality, and generative AI. The headline topic of 2024 was Generative AI, with 73% of retail executives surveyed by the Business of Fashion saying that they will explore the implementation of Gen AI in 2024. As it already has proven use-cases around product discovery, shopping assistant and personalization specialist.
CF Polo Park in Winnipeg. Image: Cadillac Fairview
The outlook for 2025 continues to look very uncertain for retail. The key unknown is the political uncertainty with recent changes in leadership in Canada, but more importantly the turbulent situation with the second Trump presidency. The key concerns for the retail sector will certainly be around tariffs. There is still a lot of uncertainty on if, when and how the tariffs get imposed and their potential impact.
But to me, the most striking highlight of 2024 is the unforeseen comeback of innovative and well managed mid-market brands. For years, we have seen retail move to the extremes with luxury doing well at the high end and value brands doing well at the lower end. This had left many mid to premium tier brands/retailers struggling, with many even disappearing. However, as The State of Fashion 2025 report by Business of Fashion and McKinsey & Co indicate that mid-market fashion retail has been the main driver of increase in economic profitability among publicly quoted companies in 2024 for the fashion sector, even more than value brands, as shown in the graph below.
After years of having increases in economic profitability driven by the luxury segment, fashion is being driven by consumer downtrading with mid-market brands bringing the biggest increase in economic profitability. This is due to 2 main factors:
Strong focus on economic profitability – costs, efficiency, inventory excellence and improved performance
For the winners like Aritzia, Groupe Dynamite (especially Garage), Hoka, On, Vuori, Uniqlo, Zara/Inditex, … Very focused on a very differentiated brand value proposition.
One prime example is Zara, as well the rest of the Inditex Group. Much has been written about the rise of ultra-fast fashion with Shein & Temu and its impact on the more traditional fast fashion brands like H&M and Zara. Actually, Zara is doing fine, thank you very much, as shown by its outstanding financial results and a market capitalization of the Inditex Group that has more than doubled in the last two years. This has been led by a complete revamp and upward positioning of the brand from a new store design, higher quality products at higher average prices and an extremely qualitative website. It occupies a unique space in the fashion landscape.
At a category level, it is fascinating to witness the rise of the challenger/newcomer brands in the sportswear industry. In 2024 among publicly quoted companies, challenger sportswear players — such as Deckers (owner of Hoka) and Asics — are expected to create over 50 percent of the segment’s value, surpassing incumbent sportswear brands known as the “Big Four” (Nike, Adidas, Puma and Under Armour) in economic profit for the first time, according to the McKinsey Global Fashion Index. Privately owned challengers are also seeing exceptional growth globally, including New Balance, Vuori and Alo Yoga.
Aritzia and JD Sports at CF Richmond Centre. Image: Cadillac Fairview
Challengers have succeeded by growing revenue faster than incumbents while also increasing their profitability.
As stated in the State of Fashion 2025 report, “Challenger brands have aggressively taken market share by targeting niches and expanding reach:
Targeting specialized categories – Arc’teryx and Salomon focus on outdoor,
Tapping into cultural marketing – New Balance and Alo Yoga tapping high-profile KOL such as Jack Harlow and Kendall Jenner. Vuori and Gymshark focused on grassroots marketing, building ties with Southern California yogis and the English gym scene, respectively,
Filling wholesale whitespace left by Nike and Adidas in highly visited retailers Dick’s Sporting Goods and JD Sports.”
CF Fairview Mall in Toronto. Image: Cadillac Fairview
Canada is also seeing mid-market brands deliver strong performance. Aritzia is often showcased. Groupe Dynamite’s IPO was extremely well received in part due to the significant improvements in retail operations and inventory management, as well as the resonance of its brands, especially Garage with younger consumers which has been critical as it expands in the US market and elsewhere. Maison Simons stands out as a high performing new approach to department stores with a unique brand positioning, as well as best in class omnichannel management.
In conclusion, this story is about bringing out the best in brands and retail by working on:
Improving costs and profitability – inventory management, better integration of new technologies, optimizing the store network by focusing on high value and profitable locations, improving omnichannel operations, …
While at the same time, focusing on innovation and differentiation
Product quality, innovation
Brand story telling
Engagement
Experience in store and online.
And finally, upgrading talent. This means hiring better talent, including with a focus on data analytics. At let’s not forget in-store talent. One of the key themes of State of Fashion Report 2025 is investing on sales staff who are the key bridge between the brand and consumer. 75% of shoppers in 2022 were likely to spend more after receiving high-quality service. Brands like Apple and Nespresso have understood this and thrived.
Charles De Brabant
Charles De Brabant joined McGill University in August 2017 to co-lead the creation of the Bensadoun School of Retail Management (BSRM). He has over 20 years experience in retail in Europe and most recently in China and South East Asia. Born and raised in Montreal, Charles holds a B. Com. from McGill, an M. Litt. in History from Oxford University and an MBA from Stanford Business School. Charles’ focus at BSRM will be on collaboration with local and international industry partners and the administration of the school.
Tipping in a restaurant. Photo: New to Canada blog
Tipping fatigue is real—and it’s spreading. What was once a gesture of appreciation has become an increasingly opaque and frustrating part of dining out. In our cashless, digital economy, Canadians are now routinely nudged—or guilted—into tipping more, often through emotionally manipulative interfaces. Sad emojis for selecting a 15% tip? Prompts for 20% on a $6 latte? This phenomenon, known as tip creeping, has become a serious irritant for consumers.
But there’s a deeper issue—one that many don’t notice. In most provinces, tips are calculated after sales tax is added to the bill. That means a 20% tip on a $100 meal with a 15% tax becomes $23, not $20. This hidden markup adds confusion and undermines consumer trust, especially when it’s unclear whether the extra money, also known as “Tipflation,” is going to the server, shared with staff, or kept by management. Most diners never check.
Quebec Moves to Ban Tipflation on Taxed Totals
This week, Quebec decided to do something about it. It is now illegal in that province for payment terminals to calculate tips on post-tax amounts. Tips must be applied to the pre-tax total. In addition, restaurant operators must clearly display the total bill, including the tip. No emojis, no games—just transparency.
While some critics argue this is government overreach, the truth is that inaction from the food service industry has made regulation necessary. The tipping model, once rooted in merit and service quality, has evolved into something that more closely resembles a wage subsidy. In many cases, consumers feel pressured into tipping simply to compensate for inadequate base pay—rather than to reward good service.
Exploring Tip-Free Restaurant Models
Some restaurateurs are now experimenting with tip-free models, incorporating service charges directly into menu prices. This eliminates guesswork and creates more predictable income for staff. However, this shift isn’t without consequences: top-performing employees may seek out tip-based restaurants where they can earn more, leading to talent drain.
There is also credible academic research suggesting that tipping perpetuates discriminatory behaviour. Studies have shown that tip amounts can be influenced by arbitrary and biased factors—like a server’s appearance or accent—rather than the quality of service.
North America’s Outdated Gratuity Culture
Unlike Europe, where gratuities are typically included in the bill, North America has clung to an outdated and often chaotic tipping culture. The restaurant industry has failed to establish coherent standards or lead a serious discussion about reform. That vacuum has opened the door for governments to intervene, as Quebec has now done.
If the industry does not self-correct, we can expect more provinces to follow suit. For the sake of both consumers and workers, tipping practices need to be more transparent, equitable, and consistent. Otherwise, public trust—and the sector’s integrity—will continue to erode.
