Total sales in the food services and drinking places subsector rose 0.1 per cent to $8.5 billion in July, marking the fifth consecutive monthly increase, according to new data from Statistics Canada.
The agency reported that full-service restaurants posted the largest sales growth in dollar terms, increasing by 0.4 per cent. Special food services, which include catering and mobile food services, also saw a rise of 1.4 per cent.
Meanwhile, limited-service eating places recorded the largest decline in dollar terms, falling 0.3 per cent. Sales at drinking places dropped 1.9 per cent.
Prices also continued to rise in July. Statistics Canada said non-seasonally adjusted prices for food purchased from restaurants increased 3.2 per cent compared with July 2024. Prices for alcoholic beverages served in licensed establishments rose 3.4 per cent over the same period.
Sales were up in five provinces, with Ontario leading the gains at 0.3 per cent, followed by Manitoba with a 1.0 per cent increase. British Columbia saw the largest decline in dollar terms, with sales falling 0.3 per cent.
Recently, it was reported that three in four Canadians (75%) are eating out less often due to the rising cost of living, according to Restaurants Canada’s2025 Foodservice Facts report. That share rises to 81% for those aged 18 to 34, it said.
As a result of this pullback in dining out, the 2025 outlook for foodservice businesses is mixed. An increase in domestic tourism is driving more sales, but Canadians are spending less per capita and opting to eat at home more than they were pre-pandemic, said the national organization.
Per capita, Canadians are spending $1,035 at full-service restaurants and $1,135 at quick-service restaurants. In 2019, they were spending $1,165 and $1,150 respectively.
Tre’dish, a wholesale-to-consumer grocery platform based in Toronto, has launched a new app feature aimed at giving consumers more transparency in grocery pricing, while also significantly expanding its product offerings through a recent acquisition.
The company announced recently it has introduced Transparent Pricing, a tool within its app that provides real-time, geo-targeted price comparisons for individual grocery items against the three largest full-service grocery retailers in a given area. Tre’dish says the feature is designed to empower consumers with increased visibility and control over their grocery spending.
Peter Hwang
“Groceries have become one of the biggest financial stressors for Canadians,” said Peter Hwang, founder and CEO of Tre’dish. “The acquisition of Brandco Direct is a huge step forward for us. It’s about scaling up fast, giving families more value, keeping prices fair, and supporting the amazing Canadian brands we work with. We’re not waiting for traditional retail to change, we’re building something that’s new, financially disciplined, and socially impactful.”
Through the acquisition of Brandco Direct, a direct-to-consumer wholesale business, Tre’dish has expanded its product lineup from 600 to over 4,000 items, including produce, meat, dairy, household goods, and personal care essentials. The company says its pricing model—built on direct relationships with wholesalers and streamlined distribution—allows it to offer average savings of up to 25 per cent compared to traditional grocery stores and delivery aggregators.
Tre’dish says its approach eliminates conventional retail markups by working directly with suppliers and optimizing delivery routes. Unlike traditional grocers, the company claims its platform prioritizes affordability for households over profit margins.
“With Transparent Pricing, families can see exactly how much they’re saving on the same quality products they expect from top-tier grocers: not discount retail substitutes or lower-quality alternatives,” the company stated in its release. “The feature not only builds trust with consumers but also reinforces Tre’dish’s technology-first approach to grocery retail, the backbone of its competitive advantage.”
Photo: Tre’dish
The company says the data gathered through Transparent Pricing will also support future enhancements to the platform, including predictive shopping baskets, intelligent product substitutions, and personalized recommendations based on household budgets and preferences.
Households in the Greater Toronto Area can access Tre’dish’s services and pricing comparisons through the company’s website at tredish.com.
I listened to the Costco Wholesale Corporation (NASDAQ: COST) 4th quarter and full year 2025 earnings call on September 25th. The call was hosted by Ron Vachris (President & CEO) and Gary Millerchip (EVP & CFO).
Bruce Winder
GAAP Financials (all in $ USD)
4th Quarter Fiscal 2025
For Q4, net sales were $ 84.4 billion, up + 8% vs. last year.
Comp warehouse sales grew + 5.7% during the same time. By market, the US business was up +5.1%, Canada was up + 6.3%, and other international was up + 8.6%. E-commerce was up +13.6%.
Membership fees came in at $ 1.72 billion for Q4, up + 14% vs. last year. About half of the increase came from membership fee increases in September 2024 in both the US & Canadian markets. The other half of this growth number was a result of a combination of increase in number of members & upgrades from existing members from Goldstar to Executive plans. About half of new COSTCO members are less than 40 years of age.
Foreign exchange positively impacted sales by + .2% while gas price deflation negatively impacted sales by – .9%.
For Q4, traffic or shopping frequency was up + 3.7% world wide, while average transaction value or average ticket was up + 1.9% world wide.
Gasoline volume grew by low single digits in the quarter but comp sales were negative by mid-high single digits as the average price per gallon dropped vs. last year. Gas volume grew due to a combination of the addition of new gas stations, expansion of existing gas stations and longer hours of operation.
The retailer indicated inflation was up low to mid single digits in the quarter. Fresh & food and sundries categories had similar inflation to last year while non-food categories had higher inflation due to tariffs.
Both fresh and non-food categories were up high single digits in comp warehouse sales for the quarter. Food & sundries categories were up mid-to-high single digits. Ancillary businesses such as pharmacy, optical & hearing aids all had a strong quarter.
Specifically, COSTCO saw double digit growth in the following categories in Q4: gold & jewelry, toys, men’s apparel, consumer electronics, gift cards & more.
Digital traffic was up +27% in Q4. Within digital sales, the following categories grew sales double digit vs. last year: gold & jewelry, housewares, apparel, tires, sporting goods, majors, small electrics and lawn & garden.
Gross margin rate was 11.13% for Q4, up + 13 bps. If we take out gas price deflation, “core” GM rate was up + 3 bps. Fresh, food & sundries and non-food all enjoyed margin rate gains as supply chain cost efficiencies, lower shrink & higher Kirkland Signature (KS) mix helped. These gains were partially offset by a LIFO charge on more expensive inventory of $ 43 million in the quarter, which was a headwind of -.6 bps.
SG&A came in at $ 7.8 billion or up + 10%. This represents 9.21% of net sales, up +17 bps. 15bps of this increase was due to operations challenges including higher employee wages and increases in general liability costs for the quarter.
Operating income for the quarter was $ 3.34 billion, up + 9.8%. This represents 4% of sales, flat to Q4/24.
Q4 net income was $ 2.61 billion, up + 11% year/year. This represents 3.1% of net sales, +10 bps to Q4/24.
Income tax rate for Q4 was 25.6% vs. 24.4% last year where there was a one-time tax gain.
Diluted net income per common share was $ 5.87, up + 11% to last year.
CAPEX for Q4 was $1.97 billion.
Fiscal Year 2025
For fiscal year 2025 net sales was approximately $ 270 billion, up +8% year/year.
Comp warehouse sales were up + 5.9 %. By Market, the US was up + 6.2%, Canada was up + 5%, and other international was up + 4.8%. E-commerce sales were up + 15.6 %.
Membership fees for fiscal 2025 were $ 5.32 billion, up + 10.4% to fiscal 2024.
Gross margin rate for the year came in at 11.1 % which was up +10 bps to 2024.
SG&A for fiscal 2025 was $ 25 billion up + 9.5%. This represents 9.2% of net sales, up from 9.14% of net sales in 2024.
Operating income for the year was $ 10.38 billion, up + 11.8% to 2024. This represents 3.85% of net sales, up from 3.7% of net sales in 2024.
Net income was $ 8.099 billion, up + 10% over last year. This represents 3% of net sales, about flat to 2024.
Diluted net income per common share for the year was $ 18.21, up + 10% to 2024.
Cash & cash equivalents at the end of the quarter/year were $ 14.16 billion, up + 43%. Inventory is $ 18.12 billion, down – 3% to last year. Net cash generated from operating activities for the year was $ 13.3 billion, up + 17.6% over 2024. Cash dividend payments dropped significantly in 2025 from $ 2.18 billion this year vs. $ 9.04 billion in 2024.
Full year 2025 CAPEX came in at $ 5.5 billion. This represented an increase in CAPEX spend, which traditionally rises at the same rate as sales. 2025 CAPEX increased due to expanded new warehouses, remodels as well as land purchases for fiscal 2026 new warehouses. Capital was also spent on investments in COSTCO’s hot dog factory and coffee roasting facilities.
Management Commentary
Members
COSTCO has 81 million members as of the end of fiscal 2025 which has grown by + 6.3% vs. last year. The retailer has 145.2 million card holders which grew + 6.1 % year over year as well. COSTCO had a 93.2% member renewal rate in the the US & Canadian markets and a 89.8 % member renewal rate world wide. There has been a slight decrease in renewal rate as more members are signing up online and these members have a lower renewal rate than other members. To counter this decline, COSTCO is focusing on auto-renewal and member renewal communications.
Since June 30th, COSTCO Executive members have had additional hours to shop at warehouses in the US. COSTCO estimates this has added about + 1% to US warehouse sales since this change was made. The retailer has also added a $ 10 per month credit for Executive members if they spend over $ 150 from COSTCO using Instacart. Since these two Executive member benefits have been rolled out, the retailer has seen “meaningful” membership upgrades from Goldstar membership to Executive membership. COSTCO has 38.7 million Executive members, an increase of +9.3% year/year. Executive members represent 47.7% of all paid members and 74.2% of world wide sales.
E-commerce
COSTCO has grown market-share on “big and bulky” items bought online. The retailer offers a delivery service that not only installs the new item but takes away the old item for disposal. Costco.com personalizes it’s offers based on customer segment, including using messaging to upgrade members to more premium status (ie. Executive).
Warehouse Expansion
COSTCO opened 10 new warehouses in the 4th quarter. These included 1 relocation in Canada, the 20th warehouse in Korea, the 2nd warehouse in Sweden and 5 net new warehouses in the US. The retailer opened 24 net new warehouses in fiscal 2025 and now has 914 stores world wide. Costco plans on opening 35 warehouses in fiscal 2026 of which 5 are relocations. The retailer sees strong expansion opportunities in both domestic and international in the future.
Kirkland Signature
It is the 35th anniversary of the retailer’s Kirkland Signature (KS) private label. KS continues to increase it’s penetration of sales mix and helps drive value for members while mitigating the risk of increased tariffs through sourcing flexibility. KS typically offers members a 15-20% value benefit vs. national brands with equal or better quality. COSTCO introduced more than 30 KS items in the 4th quarter.
COSTCO has made an effort to source more KS products from the same country the item will be sold in. This helps eliminate tariffs and also lower carbon emissions.
Tariff Mitigation
COSTCO has used several techniques to mitigate tariff increases in costs. These include: moving the country of production for items, changing assortments, increasing mix of KS, consolidating buys globally & increasing domestic sourcing in country of sale. The retailer’s overall goal is to “increase member value compared to the market”. As a last resort, the retailer indicated they would raise prices but would be the last retailer in the market to do so on a given item.
Other Commentary
It is the 40th anniversary of the COSTCO $ 1.50 hot dog and soda special. In fiscal 2025, the retailer sold 245 million hotdog & soda combos. They also sold 157 million rotisserie chickens.
COSTCO has enhanced it’s US checkout process. Now, for small & medium sized transactions, staff will scan items while customers wait in line so that when they get to the cashier, they only have to pay and avoid taking every item out of the shopping cart.
The retailer has also invested in their technology roadmap. Data augmentation helps members with digital search effectiveness on costco.com and on the retailers app. The tech also keeps bots out to enhance speed.
COSTCO thanks its operators for managing through higher employee wages & longer hours through increases in efficiency & productivity. Their efforts have minimized the negative impact these initiatives have had to SG & A costs. COSTCO’s average US warehouse associate’s wage is now $ 31/hour.
COSTCO claims that this is the 15th consecutive quarter of increased member experience satisfaction scores.
Holiday 2025
The merchant team evaluated fall buys and lowered exposure to discretionary items such as Christmas trees and decor to make more room for newer items such as back yard sheds, saunas, furniture and other high-ticket goods. These are items not sold during holiday in the past.
Costco Rimouski. Image: Costco
Management Forecast
The management team indicates that despite a challenging macro-economic environment, they plan on growing market-share by offering members exciting, high quality items at great value. They did not outline a fiscal 2026 financial forecast at this time.
Share Price Dynamics
COSTCO stock closed September 25th at $ 942.20 per share. Earnings were released after the NASDAQ was closed for the day. The stock opened on September 26th at $ 917.94, down – 2.3%. Over the last month, the stock has been down – 3.6%. Over the last year the stock is up + 3.4% and up + 167.4% over the last 5 years. One of the potential concerns for COSTCO investors is that the companies price/earning (P/E) ratio is very high at over 50x. This is significantly higher than Walmart at 39x or Target at 10.2x.
My Commentary
Costco runs a very successful business with a very unique business model. It takes low margin and “make money on volume” to the extreme. One fun fact that us retail analysts like to discuss is how COSTCO’s membership fees represent about 2/3 of the retailers net income. Costco has posted impressive numbers based on their combination of value, quality and trust. Their e-commerce business is doing well and enhancements to the Executive membership program are encouraging. When I ask AI to summarize social media comments about the retailer, the results are overwhelmingly positive. Some flack about crowds and overspending appear but these comments are in the minority. Although the stock is expensive, relative to earnings, COSTCO keeps delivering.
Retail Insider is streamlining its Canadian retail news from around the web to include a handful of top news stories that can be viewed quickly during the day. Here are the top stories from the past several days.
The announcement follows the Rainforest Alliance’s release of its new certification standard on Sept. 8, which outlines environmental and social requirements for farms pursuing regenerative practices. Certified regenerative coffee from farms in Costa Rica and Mexico will begin appearing under the new seal on select Nespresso products starting in 2026.
“With regenerative agriculture, you can see a change,” said Yamileth Chacón, a coffee farmer in Costa Rica whose farm is among the first certified. “By working with the trees, you see more foliage, more green, and more animals.”
According to the Rainforest Alliance, regenerative agriculture aims to restore soil health, improve biodiversity, and enhance ecosystem functions. The organization says these practices also offer farmers external validation, improved market access and resilience in the face of climate change.
Santiago Gowland
“Rooted in four decades of experience in sustainable agriculture, our new Regenerative Agriculture Standard combines scientific rigour with proven regenerative practices tailored to specific crops and regions,” said Santiago Gowland, CEO of the Rainforest Alliance. “Our goal is to accelerate the transition to a new model of agriculture — one that helps protect, restore and regenerate the ecosystems on which we all depend.”
The Rainforest Alliance plans to support 100 million farmers and workers by 2030 through regenerative practices and sustainable livelihoods.
Nespresso, which has worked with the Rainforest Alliance for over 20 years through its AAA Sustainable Quality Program, called the certification an important step toward ensuring long-term coffee quality and sustainability.
Jérôme Perez
“We’re proud to be the first brand to source Rainforest Alliance Certified Regenerative coffee,” said Jérôme Perez, Head of Sustainability at Nespresso. “It’s a symbol of our commitment to building balanced, resilient, yet productive landscapes within our supply chain, which is essential if we’re to protect the future of the world’s quality coffees and the communities which depend on them.”
“The new Rainforest Alliance Regenerative certification offers Canadian consumers a tangible way to support coffee that not only delivers exceptional taste, but also preserves the landscapes and ecosystems where it’s grown with care,” said Oyanguren. “This milestone reflects our long-standing commitment to sustainable and responsible sourcing practices, while empowering farmers to build long-term resilience.”
Nespresso supported the development of the new certification through earlier collaboration on the Rainforest Alliance Regenerative Coffee Scorecard, launched in 2022. The scorecard helped shape the standards now in use, particularly for smallholder farms.
Nestlé Nespresso SA, headquartered in Vevey, Switzerland, operates in 96 markets and employs over 14,000 people globally. In Canada, it employs more than 1,000 people and operates 36 boutiques nationwide.
Dealer-Owner Erin Evenson and the team at Watrous Home Hardware Building Centre joined members of the Watrous Recreation Committee and families from the Watrous Minor Ball Association to plant trees in celebration of National Tree Day. The event was held on September 6 at the Watrous Sports Grounds in Watrous, Saskatchewan. (CNW Group/Home Hardware Stores Limited)
Home Hardware Stores Limited marked National Tree Day recently by partnering with Tree Canada to support tree planting initiatives in 25 communities across the country.
The events are part of National Forest Week, held Sept. 21 to 28, and involve local stores collaborating with Tree Canada, volunteers and municipal partners to plant native trees in public spaces such as parks and schoolyards.
Ian White
“For more than 30 years, our Dealers have supported environmental initiatives in the communities they call home,” said Ian White, president and CEO of Home Hardware Stores Limited. “We are honoured to continue this important partnership with Tree Canada and to help make a positive, lasting impact.”
Tree planting activities took place earlier this month, including an event on Sept. 6 at the Watrous Sports Grounds in Watrous, Sask., where Dealer-Owner Erin Evenson and the Watrous Home Hardware Building Centre team were joined by members of the Watrous Recreation Committee and families from the Watrous Minor Ball Association.
Nicole Hurtubise
The retailer began its partnership with Tree Canada in 1992. Since then, more than 30,000 trees have been planted as part of joint reforestation and sustainability efforts.
“Tree Canada is thrilled to once again join forces with Home Hardware to green our communities,” said Nicole Hurtubise, CEO of Tree Canada. “Their continued leadership and support help bring local tree planting projects to life and inspire others to take action for the environment.”
Joseph Tassoni back stage at his fashion show in Arcadia Earth at The Well on September 19, 2025. Photo: George Pimentel
Canadian designer Joseph Tassoni redefined the runway this past Friday, September 19, with his Spring/Summer and Fall/Winter 2026 collection, presented in an immersive showcase at Arcadia Earth inside The Well in Toronto. The sold-out event, followed by an official afterparty at Le Germain Mercer, blended robotics, artificial intelligence, and climate-conscious couture in what many described as one of the most ambitious Canadian fashion presentations in recent memory.
“This collection is about more than clothes. It’s about our planet, sustainability, and the ways we respond to a warming world,” said Tassoni. “Every fabric was locally sourced and designed to be worn with pride, care, and consciousness, proudly made in Canada.”
A First-of-Its-Kind Canadian Runway Experience
From the outset, it was clear that the Joseph Tassoni fashion show was designed to be unlike anything Toronto had ever seen. Guests arrived to a red carpet hosted by Rina DiRisio and were greeted by celebrity photographer George Pimentel, who captured the night’s arrivals.
The runway itself was divided between two immersive spaces within Arcadia Earth, allowing two audiences to experience the show simultaneously. “We had 55 models because the show was running in two rooms at once,” explained Tassoni. “Each room was at capacity, and models had to move between spaces through immersive environments built from recycled materials.”
The presentation included a surprise element — Bolt, a prototype robot designed for disaster-response scenarios, took to the runway. “I was not sure how the audience would react to Bolt,” said Tassoni. “But people embraced him, taking photos and asking questions. It was important to show that technology is not just novelty, but connected to real issues of climate and safety.”
The Joseph Tassoni presentation included a surprise element — Bolt, a prototype robot designed for disaster-response scenarios, took to the runway. Image: George Pimentel
Technology Meets Sustainability
While robots and AI-generated backdrops caught attention, Tassoni emphasized that the deeper narrative remained sustainability. The designer staged the show in Arcadia Earth because each room in the venue is a physical response to environmental challenges, from plastics in oceans to deforestation.
“What I loved about Arcadia Earth was how much it tied to the collection,” said Tassoni. “All my materials were locally sourced, sustainable, and designed to return to the earth. The venue and the clothing spoke the same language.”
Video projections layered AI-enhanced imagery with personal touches from the designer. “The opening remarks featured me on screen, filmed on my iPhone and then layered with AI techniques,” he recalled. “I told my team: don’t try to perfect it, embrace the technology for what it is right now.”
Opening remarks by Joseph Tassoni at his runway presentation in Arcadia Earth at The Well in Toronto, September 19, 2025. Photo: George Pimentel
The Three-Part Collection
The SS/FW 2026 collection was divided into three themes: Island, City, and Mountain. Each reflected Tassoni’s vision of how people live, move, and dress across different environments.
Island: Breezy linen suiting and flowing wrap garments designed for versatility in warm climates. “I wanted to take classic tailoring and reimagine it in lightweight linen, perfect for hot summers while still looking polished,” Tassoni explained.
City: Staple pieces for urban life, from structured blazers to evening gowns, paired with functional outerwear.
Mountain: Outerwear crafted from 100% recycled plastics, including reversible parkas in bronze and black. Tassoni also reintroduced his brand’s signature tulip parka, first launched in 2017.
“I always like to offer options,” said Tassoni. “When people invest in one of my pieces, it’s sustainable, made in Canada, and designed with multiple styling possibilities.”
Joseph Tassoni runway show in Arcadia Earth at The Well in Toronto, September 19, 2025. Video: Craig Patterson
Inclusivity on the Runway
The casting reflected a deliberate choice to showcase diversity. Alongside professional models were public figures, a drag performer, cancer survivor, and international beauty queens.
One highlight was Aliya Jasey, who survived years of chemotherapy as a child and walked in the show for her second year. “She’s beautiful inside and out, and an inspiration,” said Tassoni.
The lineup also included Miss Fiercalicious of Canada’s Drag Race, former Miss Venezuela Keysi Sayago, and several Canadian supermodels. “I wanted to show every way people identify,” said Tassoni. “It’s about giving models a platform and creating an elevated experience not typically offered in Canada.”
Looks from the Joseph Tassoni runway show in Arcadia Earth at The Well in Toronto, September 19, 2025. Photo: George Pimentel
Birks Diamonds and Aldo Footwear
The show also carried unexpected partnerships. Four Birks diamond pieces, valued in the hundreds of thousands of dollars, were quietly featured in select runway looks, representing the four seasons. “We kept it very low key for security purposes, but it was special to incorporate these Canadian jewels,” Tassoni noted.
Every model wore footwear provided by Aldo, marking the second year of collaboration between the Montreal-based global brand and the designer. “They told me they believe in my message and want to support a Canadian brand like mine.”
“I was very proud to partner with Birks and Le Germain, both heritage Canadian companies.”
Looks from the Joseph Tassoni runway show in Arcadia Earth at The Well in Toronto, September 19, 2025. Photo: George Pimentel
An Audience of Loyalists and Newcomers
The energy in the crowd underscored Tassoni’s growing influence. Half of the audience travelled from Halton, Niagara-on-the-Lake, and surrounding communities where he has built a loyal client base. Many guests wore custom Tassoni pieces, some dating back to the brand’s early years.
“I was humbled to see clients wearing pieces I made when I launched in 2017,” Tassoni said. “It reminded me that my work has longevity and meaning beyond just trends.”
Toronto’s fashion community and media also turned out in force. The show reached capacity quickly, and according to Tassoni, some individuals even attempted to impersonate press to gain entry.
Looks from the Joseph Tassoni runway show in Arcadia Earth at The Well in Toronto, September 19, 2025. Photo: George Pimentel
Afterparty at Le Germain Mercer
Following the show, guests moved to the official afterparty at Le Germain Mercer, where the hotel unveiled its new restaurant with a disco-infused celebration.
“I ran over to greet people and then started losing my voice,” Tassoni admitted with a laugh. “But the energy was incredible. People were dancing, networking, and celebrating well into the night.”
Curated drinks, hot pink décor, and DJ sets created a lively atmosphere that extended the night’s narrative of fashion meeting community.
Looks from the Joseph Tassoni runway show in Arcadia Earth at The Well in Toronto, September 19, 2025. Photo: George Pimentel
A Designer Shaping Canadian Fashion
This marks the third consecutive year that Joseph Tassoni has staged an independent large-scale fashion event in Toronto. Unlike collective fashion weeks, Tassoni’s shows are self-directed, immersive productions that emphasize his brand’s DNA: sustainability, Canadian production, and inclusivity.
“There’s no platform in Canada offering an elevated guest experience like this,” Tassoni said. “That’s why I create my own shows. Guests arrive and it’s complimentary, with food, drinks, and an atmosphere that celebrates Canadian fashion.”
For Tassoni, the Joseph Tassoni fashion show was about launching a collection while creating community, pushing technological boundaries, and showcasing how Canadian-made design can compete on a global stage.
“This was a lot of love,” he reflected. “From the music to the styling, everything was led by me and my team. Nobody has done anything like this before in Canada.”
A new wellness retreat focused on private thermal therapy is set to open in Calgary next month. Leela Thermal House will open its doors on Oct. 6 at 6180, 5111 Northland Dr. N.W., offering two-hour sessions that combine guided hydrotherapy with massage therapy.
The 2,400-square-foot space features private thermal contrast therapy suites, designed to accommodate one or two guests in a device-free, self-paced environment.
The concept is the latest from Leela Eco Spa and SKA Thermal Spa, and is the first spa in Alberta dedicated to private thermal contrast therapy.
“In most spaces, wellness is shared with crowds and strangers, which can make it harder to fully relax or feel at ease. We believe wellness is a deeply personal journey.
“That’s why every session here takes place in a private suite, where guests can choose the tranquillity of solitude, allowing their mind and body to renew in silence, or share the rhythm of heat and cold with a partner or friend. A private space makes wellness feel comfortable, safe, and freeing – exactly as it should be.”
Each session begins with essentials such as a robe, slippers, towels, body scrub and a secure phone sleeve. The 60-minute hydrotherapy circuit includes:
A preparation shower (5–10 minutes)
Sauna session with guided meditation (20 minutes)
Cold plunge immersion (3 minutes)
Tea break and relaxation (5 minutes)
Second sauna session (10 minutes)
Final cold plunge (3 minutes)
Salt scrub shower and tea service during the remaining time
Each suite is equipped with an Estonian wood sauna, custom cold plunge, shower, meditation experience, rejuvenation station and private changing area. Following the hydrotherapy circuit, guests are guided into a 60-minute massage treatment to complete the session.
The full Thermal Retreat and massage experience begins at $170. Thermal Retreat-only options are available upon request. Guests must be 18 years or older and not be pregnant to access the facilities.
The new retreat will employ a team of 20 and adds to Leela’s growing portfolio of wellness destinations. The company began with a single spa in Calgary and now includes multiple Leela Eco Spa locations across Calgary, Winnipeg and Oakville, along with SKA Thermal Spa in Calgary’s Beltline neighbourhood.
With Kensington confirmed as the next community to host a Thermal House, the company plans to continue expanding its private hydrotherapy concept.
A widespread decline in retail trade held back Canada’s economic growth in July, as real gross domestic product rose 0.2 per cent, following a 0.1 per cent decline in June, Statistics Canada said Friday.
The retail sector contracted 1.0 per cent in July, offsetting some of the gains made across goods-producing and service industries. The agency reported broad-based declines, with 8 of 12 subsectors posting losses.
“After leading the growth in June, food and beverage stores (-2.0%) was one of the largest contributors to the decrease in July,” Statistics Canada said, attributing the drop largely to weaker activity at supermarkets and other grocery retailers.
Other significant declines came from clothing and clothing accessories stores (-3.4 per cent), sporting goods, hobby, book and music stores (-8.2 per cent), and building material and garden equipment and supplies dealers (-1.5 per cent), which all saw pullbacks after gains the previous month. However, non-store retailers — which include online sales — rose 2.4 per cent, softening the overall decline.
Despite the drag from retail, the overall economy grew, marking the first monthly GDP increase in four months, driven mainly by a rebound in goods-producing industries, which expanded 0.6 per cent after three consecutive months of contraction. Services-producing industries edged up 0.1 per cent. In total, 11 of 20 industrial sectors posted gains in July.
The mining, quarrying, and oil and gas extraction sector led growth with a 1.4 per cent increase. Metal ore mining rose 2.6 per cent, contributing to a 2.6 per cent gain in the broader mining and quarrying category (excluding oil and gas). The oil and gas extraction subsector expanded 0.9 per cent, supported by a 1.2 per cent rise in oil sands extraction as production ramped up following spring maintenance work. Oil and gas extraction outside the oil sands grew 0.6 per cent, reflecting higher output of natural gas and crude petroleum.
Transportation and warehousing increased by 0.6 per cent in July, recovering from a 0.7 per cent decline in June. Pipeline transportation (+2.8 per cent) posted its strongest growth since September 2022, driven by gains in crude oil and other pipeline transportation (+3.3 per cent) and natural gas pipelines (+2.3 per cent), in line with higher exports.
Photo: Jack Sparrow
Support activities for transportation rose 1.0 per cent, the largest gain since April 2024. Statistics Canada noted this increase “reflects in part the higher activity at the LNG Canada facility in Kitimat, which completed its first full month of operations in July.” Rail transportation also grew by 1.1 per cent.
The manufacturing sector expanded 0.7 per cent, partly reversing a 1.5 per cent decline in June. Durable goods manufacturing rose 1.0 per cent, led by transportation equipment manufacturing (+3.2 per cent). Motor vehicle parts manufacturing surged 10.5 per cent, while motor vehicle manufacturing climbed 9.1 per cent. Statistics Canada noted that planned summer shutdowns at Ontario assembly plants were less pronounced this year “due to the continued production slowdown, influenced by factors such as the new tariffs imposed by the United States.”
Primary metal manufacturing, however, fell 5.5 per cent, dampening growth in the sector. Iron and steel mills and ferro-alloy manufacturing dropped 19.1 per cent — the sharpest monthly decline since April 2020 — as U.S. tariffs on Canadian steel imports doubled to 50 per cent in early June.
Non-durable goods manufacturing rose 0.4 per cent, with chemical manufacturing up 4.8 per cent. “Pharmaceutical and medicine manufacturing expanded 12.6% in the month, offsetting most of the decline recorded in June,” the agency said.
Wholesale trade increased 0.6 per cent, marking the third consecutive monthly gain. Motor vehicle and parts wholesalers led the sector (+5.4 per cent), in line with rising production and exports. Building material and supplies wholesalers grew 2.5 per cent, driven by lumber and millwork.
Real estate and rental and leasing rose 0.3 per cent in July, reaching a new record high for the second month in a row. “Growth in July was driven in large part by higher activity at the offices of real estate agents and brokers and activities related to real estate (+3.6%),” Statistics Canada said. The increase reflected stronger home resales, particularly in large markets in Ontario and British Columbia. Legal services, which are closely tied to real estate transactions, grew 0.5 per cent.
Looking ahead, advance data suggest that real GDP was essentially unchanged in August. Gains in wholesale and retail trade were offset by declines in mining, manufacturing, and transportation. These preliminary figures will be updated on Oct. 31, when official August data are released.
A Calgary-based artisan chocolate brand is expanding its retail footprint and production capacity as demand for its handcrafted bars continues to grow. Sweet Bella Chocolates, founded by pastry chef Kevin Conniff, is now available in a growing number of retailers across Calgary and select locations in the United States.
The brand gained local attention in 2023 when Conniff was named runner-up and the only Canadian finalist on Season 10 of Food Network’s Holiday Baking Championship. Since then, the company has increased its production capabilities, introduced new flavour combinations and attracted a roster of new retail partners.
Kevin Conniff
“Our recent production expansion means we can now deliver many more bars to retailers across Calgary and beyond,” Conniff said. “With new production machinery, we’re able to create larger batches, while incorporating our premium chocolate ingredients and natural flavours to create a unique and delicious bar.”
The chocolatier is now stocked in several Alberta retailers including Sunterra Market, Luke’s Drug Mart, The Italian Centre, The Cookbook Co. Cooks, Springbank Cheese Co., Lina’s Italian Market and Calgary International Airport Relay stores. Sweet Bella products are also available in select retail shops in Colorado, Texas and Connecticut.
Sweet Bella began as a home-based project with handmade, small-batch production. It has since grown into a team of five dedicated staff members crafting bars daily.
Kevin Conniff
“Sweet Bella began in my home kitchen with small-scale production, where every bar was made by hand in tiny batches,” Conniff said. “What started as a passion project has since grown into a dedicated production team of five who craft our chocolate bars daily. The journey from a single kitchen to a growing business has been incredible, and we’re proud to bring the best chocolate to our retailers and customers.”
The company emphasizes originality and high standards in its offerings, using quality ingredients and distinctive flavour infusions. According to the release, Sweet Bella’s commitment to handcrafted production and innovation sets it apart in the premium chocolate market.
