Thirsty Buddha is expanding beyond its domestic base with new retail listings in the United Kingdom and the Los Angeles region, marking a significant step in the Montreal-based beverage company’s international growth strategy.
The brand’s sparkling coconut water is now available in all 29 Costco U.K. locations following a March launch and is rolling out across Costco warehouses in the Los Angeles area, extending its reach to millions of consumers across North America and Europe.
The move builds on Thirsty Buddha’s existing presence in Costco stores across Canada and reflects the company’s efforts to scale distribution through large-format retail channels. The expansion signals a push to establish a broader international footprint while leveraging demand for alternative hydration products.
The product is sold in a 12-pack of 330-millilitre cans featuring peach mango, grapefruit and pineapple flavours.
The company said the expansion comes as consumer preferences shift toward beverages positioned around natural hydration and functional benefits. Thirsty Buddha’s offering combines coconut water with carbonation and fruit flavours, positioning it as a variation on traditional coconut water products.
Chris Magnone
“Taking Thirsty Buddha beyond Canada is a huge moment for our team,” said Chris Magnone, co-founder and chief executive of Thirsty Buddha. “We’ve built a strong foundation at home, and this next step is about bringing our approach to hydration to more people around the world. For us, this is about more than retail listings — it’s about meeting people where they live, play, work, and hydrate. Consumers everywhere are looking for beverages that fit modern lifestyles without compromising on taste, and we’re excited to introduce a new take on hydration to even more people across North America and Europe.”
Thirsty Buddha is part of Temple Lifestyle Brands, a Montreal-based, founder-led beverage company that operates a portfolio of products in the “better-for-you” category, including Rise Kombucha. The company said its brands share distribution and operational resources while maintaining distinct identities.
The latest expansion underscores Temple Lifestyle Brands’ focus on growing its beverage platform through wider retail access and international market entry. Thirsty Buddha, positioned as a core brand within that portfolio, is central to those efforts.
The company describes its products as using clean ingredients and tropical flavours, aimed at consumers seeking alternatives to traditional soft drinks and hydration options.
Headquartered in Canada, Thirsty Buddha said it plans to continue expanding globally while building a consumer base around its approach to hydration.
Montreal-based Leyad acquired The Bay Centre in Victoria, a significant retail and mixed-use property. Retail theft in Canada has escalated into a data integrity crisis due to unsecured mobile devices affecting inventory tracking and supply chains, prompting calls for securing devices and better analytics. Other notable coverage includes rising food prices, Alimentation Couche-Tard’s revenue increase, Specsavers joining the PC Optimum program, and expansions by Farm Boy and Cozey in key markets.
The Toys “R” Us brand in Canada is heading to one owner. The stores are heading to another.
An Ontario court has approved a series of transactions that divide Toys “R” Us Canada among three buyers, marking a major turning point for one of the country’s best-known retail chains and leaving unanswered questions about what comes next for the remaining stores.
The court approval clears the way for Ad Populum, a U.S.-based brand management company, to acquire the Toys “R” Us and Babies “R” Us intellectual property in Canada. A separate company controlled by retail entrepreneur Doug Putman will acquire 10 store leases, inventory, equipment and other operating assets, while Fox Group Jumbo Canada will acquire the lease for the Toys “R” Us store at Vaughan Mills.
Financial terms of the transactions were not disclosed. While the court proceedings determine who owns the assets, they do not determine what Canadian consumers will ultimately see on storefronts.
Court documents indicate the operating business retains rights to use the Toys “R” Us and Babies “R” Us names through January 15, 2027. After that date, the future of the remaining stores will depend on whether new licensing arrangements are reached or whether a different retail strategy emerges.
For a retailer that once operated more than 80 stores across Canada, the restructuring represents another dramatic chapter in a story that began long before the company’s recent creditor protection filing.
A Familiar Retail Brand Faces an Uncertain Future
For generations of Canadian families, Toys “R” Us has been one of the country’s most recognizable retail brands.
The chain survived the collapse of its U.S. parent company and continued operating in Canada under Doug Putman’s ownership. Even after entering creditor protection earlier this year, the retailer retained significant brand recognition and a national presence.
The latest restructuring changes that equation. A licensing arrangement could allow the stores to continue operating under the Toys “R” Us banner beyond January 2027. Another possibility is that the stores continue under a different name or retail concept.
The transactions approved by the court answer who owns the assets. They do not answer what Canadian consumers will see on storefronts in the years ahead.
Mall entrance to the former Toys “R” Us at Willowbrook Centre in Langley in 2021. Photo: Lee Rivett
What Doug Putman Actually Acquired
One of the more unusual aspects of the restructuring is the nature of the assets being acquired by Putman’s company.
The transaction includes store leases, inventory, equipment, bank accounts and operating assets associated with the business. In practical terms, Putman is acquiring much of the infrastructure required to continue operating a retail chain. What he is not acquiring is the Toys “R” Us brand itself.
That distinction matters. Retailers typically own both the operating business and the intellectual property associated with the brand. Following the restructuring, those assets will be held separately.
The structure is unusual but not unprecedented. Across the retail industry, some operators run stores under brands they do not own through licensing agreements with intellectual property holders.
Whether a similar arrangement ultimately emerges for Toys “R” Us in Canada remains one of the key questions arising from the restructuring.
Why Ad Populum Wanted the Brand
The acquisition of the Toys “R” Us and Babies “R” Us intellectual property by Ad Populum highlights the continued value of the brands, even as the operating business restructures.
Unlike traditional retailers, brand management companies focus on intellectual property. Their business revolves around trademarks, licensing agreements and brand development opportunities rather than operating stores directly.
The Toys “R” Us name remains one of the most recognizable brands in the toy sector. For Ad Populum, ownership of the intellectual property creates opportunities to generate value through licensing arrangements and other brand-related initiatives in the Canadian market.
The transaction also illustrates that the value of a retail brand and the value of a retail store network are not always the same thing. In this case, the court-approved restructuring separates those assets and places them in different hands.
Jumbo store. Photo: EB/ARCHITECTS
Vaughan Mills Emerges as One of the Most Valuable Assets
Among the assets sold, the Vaughan Mills location attracted particular attention.
The shopping centre is known to be one of Canada’s highest-performing retail properties and draws shoppers from across the Greater Toronto Area, elsewhere in Ontario and from international tourism markets.
Its combination of outlet shopping, entertainment attractions and destination retailing has helped make it one of the country’s busiest malls.
The large-format 48,000 square foot Toys “R” Us location occupies a prominent position within the property and was likely among the most desirable leasehold interests available through the sale process.
Fox Group Jumbo Canada’s acquisition of the lease provides the retailer with an immediate foothold in a high-traffic shopping centre as it prepares for expansion into Canada.
Although the purchase price remains confidential, the Vaughan Mills lease was arguably one of the crown jewels of the restructuring process.
Creditor Issues Continue Separately
Several creditors and stakeholders raised objections during the approval process, including concerns involving former distribution partner Everest Toys and certain related-party transactions.
Those objections did not prevent the court from approving the transactions. The disputes remain separate from the asset sales, and no court findings have been made regarding the allegations raised.
For the retail industry, the larger question is what happens after January 2027.
The court has now determined who owns the Toys “R” Us brand, who controls the remaining stores and who will take over one of the chain’s most valuable locations.
The next decision belongs to the new owners.
If a long-term licensing arrangement is reached, Canadian consumers may continue shopping at Toys “R” Us stores for years to come. If not, one of the country’s most recognizable retail banners could eventually disappear from storefronts despite some of the stores themselves continuing to operate.
The restructuring process may be nearing its end. The future of Toys “R” Us in Canada is still being written.
Alex Miller, President and Chief Executive Officer, said: “Our focus on delivering on our customer promise through our Core + More strategy is driving strong momentum across our U.S. business, with improved traffic and ongoing growth in key categories such as food and packaged beverages; meanwhile, our teams are leaning into the strength and agility of our fuel supply chain as well as our global scale to capture opportunities across our network as market conditions evolve. Overall, the commitment and resilience of our teams is reinforcing the progress we are making in the business as we continue to win in the markets we serve.”
Filipe Da Silva
Filipe Da Silva, Chief Financial Officer, added: “We delivered a solid fourth quarter to close the year, driven by the quality of our underlying results, even excluding the impact of certain favorable items. Disciplined execution enabled us to maintain our normalized growth of expenses1 below inflation, protecting profitability while continuing to invest in the business to support improved return metrics. Our results highlight the consistency and durability of our earnings and reinforce our confidence as we continue delivering against our Core + More strategy into the new fiscal year.”
The company said revenues were $19.5 billion for the fourth quarter of fiscal 2026, up by $3.2 billion, an increase of 19.8% compared with the corresponding quarter of fiscal 2025, mainly attributable to higher average road transportation fuel selling price, the contribution from acquisitions, the impact from the translation of its European operations into US dollars and organic growth in its convenience activities, partly offset by softness in fuel demand. The translation of its foreign currency operations into US dollars had a net positive impact of approximately $526 million on itsrevenues for the fourth quarter.
For fiscal 2026, it said revenues increased by $3.6 billion, or 5.0%, compared with fiscal 2025, mainly attributable to the contribution from acquisitions, the impact from the translation of its European operations into US dollars, organic growth in its convenience activities and the net impact from organic changes to its network, partly offset by a lower average road transportation fuel selling price, softness in fuel demand and the impact of regulatory divestiture related to the GetGo acquisition. The translation of its foreign currency operations into US dollars had a net positive impact of approximately $2 billion on its revenues.
Couche-Tard website photo
Quarterly highlights, according to Couche-Tard
Successful issuance of Euro-denominated senior unsecured notes of €750.0 million ($882.0 million).
Net earnings attributable to shareholders of the Corporation were $863.4 million for the fourth quarter of fiscal 2026 compared with $439.4 million for the fourth quarter of fiscal 2025. Adjusted net earnings attributable to shareholders of the Corporation were approximately $667.0 million compared with $441.0 million for the corresponding quarter of last year, representing an increase of 51.2%. Net earnings attributable to shareholders of the Corporation were adjusted, among other items, by the net recovery on the resolution and remeasurement of certain long-standing legal matters for a pre-tax amount of $260.9 million.
Net earnings attributable to shareholders of the Corporation were $0.94 per diluted share for the fourth quarter of fiscal 2026 compared with $0.46 per diluted share for the fourth quarter of fiscal 2025. Adjusted diluted net earnings per sharewere $0.73, representing an increase of 58.7% from $0.46 for the corresponding quarter of last year.
Total merchandise and service revenues of $4.5 billion, an increase of 7.7%. Same-store merchandise revenues increased by 3.4% in the United States, and by 1.1% in Europe and other regions, while it decreased by 0.9% in Canada. Consolidated same-store merchandise revenues increased by 2.2%.
Merchandise and service gross margin increased by 0.5% in the United States to 34.4%, and by 1.0% in Europe and other regions to 39.6%, while it decreased by 0.6% in Canada to 33.5%.
Same-store road transportation fuel volumes decreased by 2.1% in the United States, and by 4.4% in Europe and other regions, while it increased by 2.0% in Canada.
Road transportation fuel gross margin of 52.44¢ per gallon in the United States, an increase of 9.17¢ per gallon, US 13.44¢ per liter in Europe and other regions, an increase of US 3.87¢ per liter, and CA 17.28¢ per liter in Canada, an increase of CA 3.23¢ per liter.
Couche-Tard website photo
Fiscal Year 2026 highlights, according to Couche-Tard
Net earnings per diluted share of $3.37 compared with $2.71 for fiscal 2025, an increase of 24.4%, while adjusted diluted net earnings per share were $3.10 compared with $2.71 for fiscal 2025, an increase of 14.4%.
During fiscal 2026, it repurchased 30.0 million shares for an amount of $1.6 billion.
Strong improvement on return on capital employed, increasing from 12.2% to 13.7%, driven by robust earnings, which include the net recovery on the resolution and remeasurement of certain long-standing legal matters, which had a favourable impact of 0.8% on this metric.
Solid pipeline execution with 103 new-to-industry openings, and 27 relocated or reconstructed stores, reaching a total of 130 stores during fiscal 2026. As of April 26, 2026, another 34 stores were under construction and should open in the upcoming quarters.
Increase in the annual dividend declared for fiscal 2026 of 10.5%, from CA 76.00¢ to CA 84.00¢.
Couche-Tard is a global leader in convenience and mobility, operating in 27 countries and territories, with close to 17,300 stores, of which approximately 13,200 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People’s Republic of China. Approximately 145,000 people are employed throughout its network.
The latest inflation numbers from Statistics Canada should make policymakers uncomfortable.
In May, overall inflation reached 3.2%, while food inflation climbed to 3.8%. At first glance, the difference may seem modest. But beneath the headline lies a trend that should concern anyone paying attention to Canada’s economy: food inflation has exceeded overall inflation every single month since Mark Carney became Prime Minister in March 2025.
Not once during his tenure has food inflation fallen below the national inflation rate.
That streak has now reached fifteen consecutive months.
For Canadians, this matters far more than many economists realize. While inflation is often discussed as a broad economic concept, consumers experience inflation through everyday purchases. They may not notice changes in the price of durable goods or financial services, but they certainly notice the cost of filling a grocery cart.
And lately, grocery bills have been sending a message very different from the one conveyed by headline inflation numbers.
The May data also reveal something else. Canada is once again leading the G7 in food inflation. While many advanced economies have managed to bring food price growth closer to their overall inflation rates, Canada remains an outlier.
That should prompt an important question: why?
For years, governments could point to global disruptions. The pandemic, the war in Ukraine, shipping bottlenecks, energy costs and climate-related events all contributed to higher food prices. Those explanations were legitimate.
Today, they are becoming less convincing.
Every G7 country has faced the same global challenges. Yet Canada has returned to the top of the food inflation rankings. When a country consistently performs worse than its peers, domestic factors inevitably become part of the conversation.
The composition of May’s inflation numbers is particularly revealing.
Coffee prices rose 14.7% over the last year. Beef prices increased 13.3%. Fresh vegetables were up 9.0%, while fresh fruit rose 5.3%.
These are not niche products. They are staples purchased by millions of households every week.
Coffee is increasingly becoming a luxury item. Beef remains under pressure from North American herd reductions. Produce prices continue to reflect Canada’s dependence on imports, transportation costs, labour shortages and currency fluctuations. None of these pressures appear likely to disappear anytime soon.
More importantly, the persistence of food inflation suggests that Canada is dealing with something deeper than temporary market disruptions.
Food inflation has now exceeded overall inflation for fifteen straight months. That is not a statistical anomaly. It is a pattern.
The implications are significant.
Food inflation functions as a regressive tax. Lower-income households spend a larger share of their income on food than wealthier Canadians. When grocery prices rise faster than overall inflation, those with the least financial flexibility suffer the most. Families adapt by purchasing fewer fresh products, trading down to cheaper alternatives or simply absorbing the higher costs through debt.
Over time, these adjustments affect not only household finances but also nutrition, health outcomes and consumer confidence.
The political implications are equally important.
Food affordability is increasingly becoming the economic issue Canadians care about most. Consumers may be told that inflation is moderating, but their lived experience at the grocery store often tells a different story. When food prices continue to outpace overall inflation month after month, public confidence in economic management inevitably erodes.
The challenge facing Ottawa is therefore much larger than managing inflation expectations. It is about addressing the structural issues that continue to make food more expensive in Canada than it should be.
Interprovincial trade barriers remain largely intact. Regulatory burdens continue to add costs throughout the supply chain. Infrastructure bottlenecks reduce efficiency. A weak Canadian dollar makes imported food more expensive. Meanwhile, governments rarely evaluate policy decisions through the lens of food affordability.
The result is a food system that appears increasingly vulnerable to shocks and less competitive than those of many peer nations.
The May numbers should therefore be viewed as more than another monthly inflation report.
They are a reminder that Canada’s affordability crisis has not disappeared. It has simply become concentrated where Canadians notice it most: at the grocery store.
Until food inflation begins moving below overall inflation, many households will continue to feel poorer regardless of what the headline economic indicators suggest.
And after fifteen consecutive months of food inflation exceeding general inflation, Canadians have every reason to be concerned.
Dollarama store at Station Mall in Sault St. Marie, ON. Photo: Dollarama
Nearly every Canadian household shops at Dollarama.
A new survey from Field Agent Canada found that 96 per cent of Canadian households visited a Dollarama store within the previous 60 days, placing the Montreal-based retailer alongside Walmart as one of the country’s most broadly used retail chains.
The findings suggest Dollarama has evolved well beyond its traditional image as a discount retailer. Instead, the chain has become a mainstream shopping destination that attracts Canadians across income levels, regions and demographics.
The research comes as Dollarama continues to post strong financial results. In its recently reported first quarter, the retailer recorded a 5.6 per cent increase in comparable store sales, driven by a 3.5 per cent increase in transactions and a 2.0 per cent increase in average transaction size.
Dollarama’s Appeal Extends Across Income Levels
One of the survey’s most surprising findings was the consistency of Dollarama’s household penetration across income groups.
Jeff Doucette
According to Field Agent Canada, household penetration ranged from 95 to 96 per cent regardless of income level, challenging long-held assumptions that the retailer primarily serves lower-income consumers.
“I don’t know if Canadians are getting poorer, but I think they’re definitely getting smarter,” said Jeff Doucette, General Manager of Field Agent Canada.
“People are doing the math. They’re comparing prices, looking at value, and making informed decisions about where they shop.”
Doucette said the data shows that higher-income households are shopping at Dollarama nearly as often as lower-income households.
“There are lots of households making more than $100,000 a year that go to Dollarama just as frequently as lower-income households,” he said.
He compared the trend to the rise of value-oriented retailers in Europe and Canada, where chains once associated primarily with budget-conscious consumers gradually attracted shoppers from across the income spectrum.
The findings suggest Canadians increasingly view value retailing as a smart shopping strategy rather than a necessity.
Convenience Has Become a Competitive Advantage
While economic pressures continue to influence purchasing decisions, Doucette believes convenience plays a major role in Dollarama’s success.
With more than 1,700 locations across Canada, the retailer has built a dense store network that allows many consumers to shop close to home, work or other daily destinations.
“Part of it is definitely budget pressure, but a big chunk of it is convenience,” said Doucette. “It’s down the street. It’s quicker and easier to get in and out of than navigating a big box store.”
The survey found that while most customers drive to Dollarama locations, a significant number walk to stores, reinforcing the chain’s role as a neighbourhood shopping destination.
Doucette said the retailer’s proximity strategy creates a different type of convenience than e-commerce.
“It’s almost the flip side of e-commerce,” he said. “If there are multiple stores near your home, why order online when you can just go get it?”
That accessibility has helped Dollarama establish itself in urban neighbourhoods, suburban shopping centres and smaller communities across Canada.
Canadians Are Visiting More Frequently
The research also found that 37 per cent of shoppers visited Dollarama more frequently in 2025 than they did in 2024, while only 13 per cent reported shopping there less often.
Atlantic Canada recorded the highest shopping frequency at 3.6 visits per month, compared with a national average of 3.2 visits.
The average transaction reached $23.96 nationally, with shoppers in Quebec and Atlantic Canada posting the highest basket sizes.
Doucette said Dollarama’s expanding assortment has helped drive repeat visits and larger baskets.
Seasonal merchandise, party supplies, greeting cards, household essentials and consumables continue to draw customers into stores, while broader product selection has increased opportunities for impulse purchases.
“They own the category of party,” he said. “Gift wrap, cards, birthday parties, seasonal merchandise — Dollarama is on that shopping journey.”
The retailer has also expanded its assortment over time by introducing higher price points and adding new categories, allowing shoppers to purchase a wider range of products during a single trip.
A Mainstream Retail Destination
For years, Dollarama was often viewed primarily as a dollar store serving budget-conscious shoppers.
The latest research paints a different picture.
Canadians across virtually every income level are shopping at Dollarama. Many are visiting more frequently than they did a year ago, and convenience appears to be just as important as price in driving traffic.
For many consumers, Dollarama is no longer an occasional stop for seasonal merchandise or party supplies. The survey suggests it has become a routine part of everyday shopping habits and one of the most broadly used retail formats in the country.
Following the opening of its first Calgary location at CF Chinook Centre, Shake Shack Canadais expanding its presence in Alberta with its first-ever drive-thru restaurant, expected to open in the Fall at 9253 Macleod Trail S.W. in Calgary.
Calgary was selected for Shake Shack’s inaugural drive-thru location in Canada, recognizing the demand for on-the-go dining in the city and the enthusiastic response the brand has received since opening at CF Chinook Centre, said the company, adding that expanding its footprint with a drive-thru was a natural next step.
After the opening of Macleod Trail, Shacks in Alberta are expected to generate approximately 200 jobs for the local community, it said.
Billy Richmond
“Calgary was the clear choice for our first drive-thru location in Canada,” said Billy Richmond, Business Director, Shake Shack Canada. “It’s a city where driving is a part of everyday life, and we wanted to create a Shack experience that offers guests greater convenience year-round. Hospitality is at the heart of everything we do, and the drive-thru gives us another way to deliver that experience beyond our restaurant walls.”
The new drive-thru location will deliver the same high-quality experience guests expect from Shake Shack by upholding the brand’s signature cooked-to-order standards. Guests can expect the same commitment to quality, craftsmanship and hospitality that defines the brand, including burgers made with 100% Alberta beef, said Richmond.
Formed in 2023, Shake Shack Canada is a partnership between Osmington Inc. and Harlo Entertainment Inc. — two Canadian-based private investment companies. Shake Shack Canada has seven locations across Ontario, one in Alberta, and plans to open at least 35 locations nationwide.
Since the original Shack opened in 2004 in NYC’s Madison Square Park, the company has expanded to over 695 locations system-wide, including over 450 in 35 U.S. States and the District of Columbia, and over 245 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.
“The announcement that Shake Shack Canada will open its first drive-thru location in Canada in Calgary is significant news in quick-service dining circles. The choice of location in the 9200-block of Macleod Trail South reinforces this prime ‘zone’ as the bullseye-sweet spot for quick-service restaurants with drive-thru capability in the city,” said Michael Kehoe, Broker, Fairfield Commercial Real Estate.
Michael Kehoe
“Shake Shack is a global brand with over 695 locations and joins other dominant restaurant brands who are in very close proximity on Macleod Trail South such as Chick-fil-A, Jollibee and Krispy Kreme Canada. These restaurants enjoy impressive sales levels and no doubt Shake Shack will lead the way.
“The Macleod Trail drive thru location is a natural move for the brand following the successful opening of its first Calgary location at CF Chinook Centre.
“What makes this as the prime ‘zone’ on Macleod Trail South so attractive for quick-service restaurants? The restaurants enjoy the synergistic traffic benefits provided by the choice of dining options that is a major draw for consumers. The restaurants can achieve a strong streetside profile, high vehicle traffic counts, ease of roadway access and approval of drive-thru’s that are often difficult to secure. The fact that this location will be Shack’s its first-ever drive-thru restaurant in Canada, is a huge vote of confidence in the Calgary market recognizing the demand for on-the-go dining in the this ‘car-centric’ city.”
Higher prices for gasoline continued to drive the acceleration in the headline CPI in May. However, excluding gasoline, the CPI still rose at a faster pace year over year in May (+2.2%) compared with April (+2.0%), said the federal agency.
The CPI was up 1.0% month over month in May. On a seasonally adjusted monthly basis, the CPI increased 0.5%, largely due to a rise in the recreation, education and reading and transportation components, it added.
Overall food inflation climbed to 3.8%, outpacing overall inflation for the 15th consecutive month.
“On a year-over-year basis, gasoline prices rose at a faster pace in May (+33.2%) compared with April (+28.6%). Supply uncertainty stemming from the conflict in the Middle East, specifically the closure of the Strait of Hormuz, put upward pressure on gasoline prices for the third consecutive month. Consumers paid the highest prices for gasoline since June 2022, when Russia’s invasion of Ukraine created supply uncertainty,” said Statistics Canada.
Year over year, consumers paid more for travel tours in May (+0.7%) compared with April (-11.0%). On a year-over-year basis, prices for air transportation rose 7.4% in May, following a 1.7% decline in April. Airlines are experiencing higher operational costs, notably for jet fuel, it added.
Vitaly Gariev photo
“Prices for fresh fruit rose at a faster pace year over year in May (+5.3%) compared with April (-0.5%). The acceleration was mostly driven by berries and grapes. On a year-over-year basis, prices for fresh vegetables increased 9.0% in May, following a 4.1% rise in April. The upward movement was attributed to higher prices for broccoli, cauliflower, tomatoes and lettuce. Tomato prices rose 45.2% in May due to supply contractions in Mexico, stemming from poor weather and a reduction in planted acreage following the implementation of US tariffs,” said Statistics Canada.
“On a month-over-month basis, prices for fresh vegetables rose 5.5% in May following a decline of 3.9% in April. This is the largest monthly May increase since 2008 and is attributed to reduced supply and higher fuel costs. Collectively, higher prices for fresh fruit and fresh vegetables contributed to an acceleration in inflation for food purchased from stores, rising 4.3% year over year in May, the 16th consecutive month it has outpaced headline inflation on a year-over-year basis.
Leslie Preston
Leslie Preston, Managing Director & Senior Economist, TD, said: “Oil prices are down significantly since a tentative peace deal between Iran and the U.S. was reached, and gasoline prices have been following suit. We expect May to mark the peak for headline inflation this year. As expected, we are seeing somewhat higher core inflation in recent months, but we don’t expect it to rise to a level that raises alarm bellow for the Bank of Canada.
“Apart from energy costs and some emerging tech price pressures inflation remains very well behaved in Canada, as a relatively soft demand backdrop leans against sellers raising prices. We expect this to keep the Bank of Canada on the sidelines for quiet some time. Bond markets yields are so far little moved by today’s numbers.”
Montreal-based Leyad has acquired The Bay Centre, what it describes as “one of Victoria’s most iconic and strategically located commercial properties.”
Located in the heart of downtown Victoria, The Bay Centre is a trophy retail and mixed-use asset spanning an entire city block and serving as a cornerstone of the city’s retail and pedestrian core, said Leyad.
Financial details were not disclosed. The 420,000-square-foot property was owned by Manulife which purchased the property in 2015 for about $100 million from LaSalle Investment Management which had purchased the property in 2010 from Cadillac Fairview for $90 million.
It opened in 1989 as the Victoria Eaton Centre.
In recent months, Leyad has been on a buying spree of retail properties in Canada.
“The Bay Centre is one of the most recognizable and important urban retail assets in British Columbia,” said Henry Zavriyev, Principal at Leyad.“This is a generational acquisition for our firm – a landmark property in the centre of one of Canada’s most vibrant and supply-constrained cities. We see enormous long-term potential in the asset and are excited to steward its next chapter.”
Henry Zavriyev
The property occupies a premier location in downtown Victoria with direct exposure to the city’s strongest pedestrian corridors, tourism activity, office concentration, and growing residential population. Leyad believes the property is exceptionally well-positioned to benefit from Victoria’s long-term economic and demographic growth trends, said Leyad.
The acquisition aligns with Leyad’s investment strategy focused on acquiring irreplaceable community-oriented retail properties with strong underlying real estate fundamentals, daily-needs tenancy, and opportunities for long-term value creation through active ownership and strategic reinvestment, it added.
“Our focus continues to be on owning high-quality retail properties that serve as essential parts of their communities,” said Zavriyev. “The Bay Centre combines irreplaceable location, institutional quality, and meaningful future potential in a way that is exceptionally rare in the Canadian market.”
Leyad said it intends to work collaboratively with tenants, local stakeholders, and the broader Victoria community to further enhance the property’s role as a premier downtown destination.
Recently Leyad has added the following properties to its growing portfolio: a 387,000-square-foot portfolio of seven single-tenant grocery stores leased to Loblaw Companies Ltd. in British Columbia, Manitoba, New Brunswick, Nova Scotia, Saskatchewan and the Yukon Territory; the 900,000-square-foot, 160-store St. Vital Centre in Winnipeg; the 200,000-square-foot, 37-store Lloyd Mall in Lloydminster, Alberta; and the 456,430-square-foot, 88-store Intercity Shopping Centre in Thunder Bay, Ontario.
The Bay Centre in Victoria, BC (CNW Group/Leyad)The Bay Centre in Victoria, BC (CNW Group/Leyad)
Specsavers says it is marking five years of growth with a significant new milestone: a national partnership with PC Optimum, one of Canada’s largest and most widely used loyalty programs, with more than 18 million members nationwide.
PC Optimum members can now earn 10 points per $1 spent on eligible purchases at every Specsavers location nationwide. Whether shopping for prescription eyewear, contact lenses, sunglasses or accessories, members accumulate points simply by scanning their PC Optimum App or PC Optimum card at the time of purchase, said the company.
At a time when Canadians are feeling increased pressure on their wallets, the partnership makes it easier for Canadians to see value in routine eyecare spending. The collaboration with PC Optimum signals the brand’s commitment to Canadians, building on Specsavers relationship with Loblaw Companies Limited, which saw 111 Specsavers locations open within Loblaw stores across Canada in 2025, added the company.
Jane Hoban
“As one of Canada’s strongest loyalty reward programs, PC Optimum was a compelling strategic choice,” said Jane Hoban, Managing Director, Specsavers Canada. “Over the past five years we have built strong momentum and as we continue to grow, our focus remains on making quality eyewear and eyecare more accessible and more rewarding for every community we serve across this country.”
Lauren Steinberg
“People expect their loyalty programs to show up across more of the moments that matter to them,” said Lauren Steinberg, Chief Digital Officer, Loblaw Companies Limited. “With Specsavers joining PC Optimum™, members can now earn points on eligible eyewear and accessories purchases, making it even easier to be rewarded for everyday spending.”
Members can earn points alongside existing Specsavers offers and promotions, with additional bonus opportunities available through the PC Optimum App. Eligible purchases include glasses, lenses, contact lenses and accessories at all Specsavers locations across the country, explained the company.
