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AI Tools Enter Retail Platforms as Canadian Adoption Grows

By
Craig Patterson
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AI technology is being integrated into retailers. Photo: RI/Google

Artificial intelligence is increasingly moving from experimentation to operational use among Canadian small business owners, including retailers and restaurateurs. New data released by payment and commerce technology company Square suggests that many entrepreneurs are already experimenting with AI tools, while technology platforms are beginning to embed AI capabilities directly into the software merchants use to run their businesses.

The findings highlight how AI tools are beginning to influence decision-making across multiple industries. For retailers and restaurants in particular, the technology is becoming accessible through platforms already used to manage payments, sales data, and day-to-day operations.

According to Square, a 2026 survey of Canadian business owners commissioned by the company found that 60 percent of respondents said they currently use artificial intelligence tools in their businesses. The same survey found that 74 percent reported being familiar with AI technologies that could support their operations. The research covers entrepreneurs across sectors, including but not limited to retail and hospitality.

While the survey results reflect broader small business adoption, they suggest that AI tools are becoming increasingly visible to Canadian merchants as platforms begin integrating these capabilities directly into their systems.

Commerce Platforms Begin Embedding AI

The trend is becoming particularly visible in commerce platforms that are embedding artificial intelligence into their existing software environments. In 2026, Square introduced Square AI, a natural-language AI assistant launched in Canada that is designed to help merchants access insights about their businesses using conversational prompts.

Square says merchants can ask questions such as which items sell best on weekends or how sales performance compares with previous periods. The system then generates responses based on transaction and operational data captured within the Square platform.

For many operators, particularly independent retailers and restaurant owners, extracting insights from sales data has traditionally involved reviewing dashboards or generating reports manually. AI tools integrated directly into commerce platforms are positioned as a way to simplify that process.

As these technologies become more widely available, platforms are increasingly presenting AI as a way that may help small businesses access analytical insights that were once more commonly associated with larger organizations.

Small Businesses Seek Efficiency and Insight

The appeal of AI tools among retailers and restaurant operators often centres on operational efficiency. Running a small business involves managing inventory, staffing, marketing, and customer demand. AI systems that can quickly surface relevant insights may help operators make faster decisions based on available data.

Square’s research suggests that entrepreneurs are particularly interested in AI tools that streamline tasks or provide operational insights. Survey respondents cited potential benefits such as marketing assistance, administrative efficiencies, and improved access to business insights.

Retailers, for example, may use AI tools to better understand purchasing patterns, identify seasonal trends, or evaluate which products perform best at different times of the week. Restaurants may apply similar insights to menu performance or staffing decisions.

The ability to ask software platforms direct questions about business data reflects a broader shift toward conversational interfaces. As AI tools evolve, merchants may increasingly interact with operational software through natural-language prompts rather than traditional reporting dashboards.

Retail Technology Firms Race to Integrate AI

Square’s launch of Square AI reflects a broader shift taking place across the retail technology sector. Companies that provide commerce platforms are increasingly incorporating artificial intelligence into their products as they compete to offer more advanced operational tools.

Canadian-founded platform Shopify has introduced several AI-driven tools for merchants, including Shopify Magic, which assists with content generation and product descriptions, and Sidekick, an AI assistant designed to help merchants navigate reporting, answer operational questions, and receive guidance on managing their businesses.

Similarly, Lightspeed Commerce has integrated AI-powered capabilities within its retail and hospitality platforms. These tools include features designed to support inventory management, demand forecasting, and data-driven insights for merchants operating stores and restaurants.

These developments suggest that AI functionality may increasingly become a standard component of retail platforms rather than a specialized add-on. As the technology becomes more integrated into widely used systems, retailers may rely more heavily on AI-generated insights to guide operational decisions.

AI Adoption Continues to Expand

While artificial intelligence adoption among large corporations has attracted significant attention in recent years, smaller businesses are gaining access to these technologies through the platforms they already use to manage payments and operations.

For many independent retailers and restaurateurs, AI tools are becoming available through familiar commerce systems rather than requiring separate software investments. This shift could lower barriers to experimentation with AI technologies among small business operators.

As commerce platforms continue to introduce AI-driven features, adoption among Canadian merchants may accelerate, particularly as these tools are integrated directly into everyday business workflows.

A New Layer of Intelligence for Retail Operations

The growing integration of artificial intelligence into commerce platforms reflects a broader shift in how businesses interact with operational data. Instead of manually reviewing reports or spreadsheets, merchants may increasingly rely on AI assistants that interpret sales information and provide insights through conversational prompts.

For retailers and restaurant operators navigating competitive markets, these tools are positioned as a new layer of operational intelligence. As AI capabilities continue to evolve, they could influence how merchants evaluate performance, plan inventory, and respond to changes in customer demand.

While the long-term impact of these technologies is still unfolding, the rapid pace of development suggests that AI tools embedded within commerce platforms are likely to play an expanding role in the next generation of retail technology.

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Square report finds group of loyal ‘regulars’ generates 6x more revenue for Canada’s small businesses

By
Mario Toneguzzi
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Andrea Piacquadio photo
Andrea Piacquadio photo

A small but loyal group of repeat customers generates nearly six times more annual revenue for Canadian neighbourhood businesses than one-time visitors, according to new data released today by technology company Square.

The inaugural Square Local Economy Report combines anonymized transaction data from Canadian businesses with a national consumer survey. Findings reveal that “regulars” — defined as customers who visit four or more times within a year — are the backbone of Canada’s neighbourhood economies, generating significantly more annual value for local businesses.

In Montreal, regulars generate seven times more annual value than occasional customers. Nationally, these repeat customers return at least nine or 10 times per year, creating steady revenue streams that help businesses withstand rising costs and economic uncertainty, said Square.

“We love all of our customers, but our regulars are truly the foundation of our business,” said Lucas Spinosa, owner of Black Sheep Coffee Roasters in Ontario’s Niagara region. “They’re part of our daily rhythm. With our loyalty program, we can recognize them, remember their orders, and make sure they feel valued every time they walk in. That consistency builds trust — and trust keeps people coming back.”

Despite Financial Pressures, Canadians Want Local

While many Canadians anticipate tightening household budgets in 2026, local loyalty remains strong, added Square:
● 81% of Canadians plan to shop in their local neighbourhoods as much or more than last year
● 61% would continue supporting local businesses even if prices increase, provided value improves
● 74% visit multiple local businesses in a single trip at least occasionally

The report said proximity to home now ranks as the top driver of local spending decisions, ahead of price alone, followed by word-of-mouth recommendations and perceived value. Rather than retreating from local businesses, consumers are consolidating errands and favouring convenience, familiarity, and trusted experiences.

The Neighbourhood Network Effect

The report also shows that local success is increasingly driven by a “Neighbourhood Network Effect” created by shared customers and connections between nearby businesses. In Toronto, 49% of businesses share regular customers with at least one other nearby business. In Vancouver, that figure rises to 55%, illustrating how everyday errands such as coffee, food, and quick purchases can link independent businesses. In fact, these connections have real economic impact: in Toronto, each additional local business connection is associated with an average $2,067 increase in annual revenue.

Coffee shops, in particular, act as neighbourhood anchors, frequently serving as the bridge between retail, food, and service businesses. Although regular customers may spend slightly less per visit than one-time shoppers, their frequency and consistency have an outsized impact. The data found that 84% of regulars spend the same or more per visit once a relationship is established, helping businesses weather economic volatility, added Square.

Karisa Marra
Karisa Marra

“When Canadians build local routines — a coffee, a haircut, a quick stop at a shop — they’re doing more than running errands. They’re strengthening a connected network of neighbourhood businesses,” said Karisa Marra, Head of Sales at Square Canada. “Square is helping build that neighbourhood network by giving small businesses the freedom to focus, the tools to grow, and a trusted partner in their corner so they can recognize regulars, deepen loyalty, and strengthen local connections that power vibrant economies.”

The Path Forward for Local Businesses

Square said the path forward for local businesses is clear: loyalty doesn’t happen by accident. As local shopping habits continue to shape how Canadians spend, sellers who invest in turning customers into regulars — and in building intentional neighbourhood connections — will be best positioned to thrive. In today’s local economy, growth isn’t just about attracting customers. It’s about building the relationships and network effects that strengthen entire neighbourhoods.

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Canadian cardholder spending warms up despite discretionary goods pullback: RBC

By
Mario Toneguzzi
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RBC Canadian cardholder spending showed modest improvement in February despite consumers continuing to cut back on discretionary goods spending, according to a recent report by the bank. 

“Our core retail sales measure on a three-month average remained negative at -0.1%, but marked an improvement from -0.3% (seasonally adjusted), indicating the decline eased in February after weather-related disruptions and post-holiday fatigue weighed on spending in January,” said the report.

“We expect higher oil prices will drive up purchases at gas stations. The impact on other essentials and discretionary spending is less clear as it will depend on how consumers allocate their remaining income, and the extent to which they tap into their savings.”

The report highlights:

  • February’s contraction came entirely from discretionary goods—clothing and related retail segments were among the weakest performers.
  • Weakness in discretionary goods spending was partially offset by spending growth in discretionary services and essentials. Travel, entertainment and art posted the strongest gains on a three-month average, pointing to continued resilience in experience-related spending.
  • Spending grew in most provinces on a three-month average following the January slowdown. Ontario, hit particularly hard by winter storms, showed notable recovery in February as conditions moderated.

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Job vacancies held steady in Q4 2025: Statistics Canada

By
Mario Toneguzzi
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Job vacancies were little changed in the fourth quarter of 2025 at 495,100, following three straight quarters of decline beginning with the first quarter of 2025, according to a recent report by Statistics Canada.

Year over year, job vacancies were down by 8.9% (-48,100) in the fourth quarter. This was the smallest proportional year-over-year decline since the fourth quarter of 2022 (-6.4%), said the federal agency.

“Job vacancies rose for full-time occupations (+5,100; +1.4%) and fell for part-time occupations (-4,300; -3.4%) in the fourth quarter of 2025. Meanwhile, job vacancies held steady for both permanent and temporary positions. Despite little variation in the number of vacancies, total labour demand (the sum of filled and vacant positions) rose in the fourth quarter (+26,500; +0.1%), as payroll employment increased (+25,700; +0.1%),” it said.

“The job vacancy rate—which corresponds to the number of vacant positions as a proportion of total labour demand—held steady at 2.8% for the third straight quarter. The job vacancy rate had previously declined steadily from the record high of 5.6% reached in the second quarter of 2022.

“The proportion of long-term vacancies—vacancies for which recruitment efforts have been ongoing for 90 days or more—across Canada was 28.5% in the fourth quarter of 2025, a 4.1 percentage point decrease from the fourth quarter of 2024 (32.6%) (not seasonally adjusted). This indicates that employers had fewer difficulties filling available positions compared with a year earlier.”

Statistics Canada said the unemployment-to-job vacancy ratio—the number of unemployed persons per job vacancy—fell from 3.2 to 3.1 in the fourth quarter of 2025, the first quarterly decline since the second quarter of 2022. The unemployment rate in the fourth quarter of 2025 was 6.8%, down from 7.0% in the third quarter of 2025.

“In the fourth quarter of 2025, job vacancies increased in trades, transport and equipment operators and related occupations (+3,800; +4.3%), in business, finance and administration occupations (+3,300; +5.0%) and in occupations in manufacturing and utilities (+1,100; +6.3%). Meanwhile, decreases were recorded in sales and service occupations (-4,100; -2.8%) and in legislative and senior management occupations (-200; -27.8%),” added Statistics Canada.

“On a year-over-year basis, job vacancies were down in 8 of the 10 broad occupational groups in the fourth quarter, led by health occupations (-13,600; -17.0%), sales and service occupations (-9,500; -6.2%) and trades, transport and equipment operators and related occupations (-7,200; -7.2%). Year over year, job vacancies were little changed in natural resources, agriculture and related production occupations and occupations in manufacturing and utilities.”

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Tulkoff Foods acquires Celtrade Canada to expand North American sauce manufacturing capabilities

By
Mario Toneguzzi
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Celtrade Canada photo
Celtrade Canada photo

Tulkoff Foods has acquired Toronto-based private label manufacturer Celtrade Canada in a move the companies say will broaden their manufacturing footprint and product development capabilities across North America.

The Baltimore-based sauces and condiments manufacturer announced recently that the strategic acquisition is intended to strengthen the combined company’s ability to serve retail, foodservice and industrial customers with expanded packaging formats and culinary innovation.

The transaction brings together manufacturing operations in both Canada and the United States, along with research and development teams focused on custom flavour solutions. The companies said the integration is expected to enhance speed to market and support growth across multiple distribution channels.

In a joint announcement, the companies outlined plans to leverage complementary strengths in product development and packaging to create what they described as a broader custom solutions platform.

Mike Kagan
Mike Kagan

“We are thrilled to welcome Celtrade to the Tulkoff family,” said Mike Kagan, CEO, Tulkoff Foods. “Celtrade has built an exceptional reputation for quality and innovation and together, we’ll deliver even more value to our customers by combining expertise, expanding product offerings, and enhancing our manufacturing footprint.”

The combined enterprise will offer a wider range of packaging formats, including tubs, sachets and dip cups. The companies said this expansion is designed to support diverse applications across retail shelves, foodservice operations and industrial supply chains.

They also pointed to Celtrade’s research and development capabilities as a key factor in the transaction. The Toronto-based company’s innovation-focused culinary team is expected to contribute to product development initiatives spanning sauces, dressings, condiments and flavour systems.

Chris Bouchard
Chris Bouchard

Celtrade president Chris Bouchard said the acquisition represents a significant milestone for the Canadian manufacturer and will increase capacity and flexibility for customers.

“Joining forces with Tulkoff marks an exciting next chapter for Celtrade. This move is highly complementary in the capabilities we can bring to our collective customer base. It gives our customers more- more capacity, more capability, more pack size options and more choice.”

The companies said the combined organization aims to serve a broader customer base across North America by aligning operational resources and expanding distribution reach. They also indicated that the integration process is expected to proceed without disruption to existing customer relationships.

Founded in 1926 and headquartered in Baltimore, Tulkoff manufactures custom sauces, dips and dressings for foodservice operators and consumer packaged goods brands. The company has positioned product innovation and co-development partnerships as central to its growth strategy.

Celtrade, meanwhile, produces private label and co-manufactured products including cooking sauces, infused oils, vinegars, mayonnaise-type spreads, gourmet condiments and salad dressings. The Toronto-based firm serves retail, foodservice and industrial customers across North America.

Celtrade Canada photo
Celtrade Canada photo

The acquisition reflects a continued focus on building scale and expanding capabilities in custom flavour development and contract manufacturing, according to the companies.

Tulkoff and Celtrade said they expect the integration to create new opportunities for collaboration with customers as the combined business moves forward.

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Foliot Furniture expands into community living housing market with purpose-built furnishings

By
Mario Toneguzzi
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Foliot Furniture photo
Foliot Furniture photo

Quebec-based contract manufacturer Foliot Furniture is expanding into Canada’s community living housing sector, positioning its furnishings and design expertise to serve organizations involved in supportive, affordable and emergency housing.

The company said the move builds on more than three decades of supplying furniture to residence halls, hotels and institutional clients, as demand grows for durable solutions in high-occupancy housing environments.

Founded in 1991, Foliot said it has focused on producing contract furniture designed for intensive use. Its latest expansion targets organizations addressing housing needs across the country, including those operating supportive and modular housing projects, senior living residences, Indigenous housing initiatives and staff accommodations.

The company said it will now provide furnishings tailored to both temporary and permanent community living settings, reflecting what it described as increasingly complex operational requirements for housing providers.

Foliot’s product offerings for the sector are intended to address practical considerations such as safety, durability and accessibility. The company said its designs incorporate features including reinforced construction, bedbug-resistant elements and compliance with safety guidelines, as well as configurations aligned with accessibility standards in different Canadian jurisdictions, it explained.

Foliot Furniture photo
Foliot Furniture photo

The manufacturer said its approach also draws on expanded experience in supportive housing environments, where physical surroundings can influence residents’ emotional well-being and sense of stability.

According to the company, its furnishings are developed using trauma-informed design principles aimed at supporting dignity and wellness in both transitional and long-term living arrangements. The focus includes creating calm, non-institutional aesthetics intended to help housing operators foster environments that promote safety and belonging.

Foliot said each community living setting presents distinct operational and emotional considerations, requiring adaptable furnishing solutions that can withstand sustained use while maintaining a residential feel.

As a vertically integrated manufacturer, Foliot said it will offer end-to-end support to clients, from furniture selection through to space optimization for private units and shared areas.

The company said all products supplied to the community living market will be backed by a 25-year warranty and a replaceable parts program designed to extend product lifespan. It added that the approach is intended to reduce disruptions for housing providers while helping them manage long-term costs, a key factor for publicly funded and community-based organizations.

Foliot described the offering as a turnkey solution that reflects its experience managing high-volume furnishing requirements in institutional settings.

Foliot Furniture photo
Foliot Furniture photo

The expansion represents what the company characterized as a milestone in its broader strategy to support housing organizations focused on delivering stable living environments. Drawing on its history in residence and hospitality projects, Foliot said it is seeking to establish itself as a partner capable of managing furnishing needs from initial planning through to project completion.

The manufacturer said its experience with complex occupancy environments provides a foundation for serving the evolving requirements of Canada’s community living sector.

Foliot added that the initiative aligns with its stated objective of creating living spaces designed for durability and long-term use, while supporting the needs of residents and housing operators alike.

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Maison Territo Launches Archiproducts Digital Showroom

By
Retail Insider
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Image: Maison Territo

Architects and interior designers increasingly rely on digital platforms to research products, compare materials, and manage complex project specifications. In response to this evolving workflow, Montréal-based Maison Territo, located at Royalmount, has partnered with Archiproducts to introduce the Archiproducts Digital Showroom. The new platform allows design professionals to explore the brands and collections represented by Maison Territo through a centralized and efficient digital interface.

The Archiproducts Digital Showroom extends Maison Territo’s physical presence by providing an online environment dedicated to product discovery, planning, and specification. Through the platform, architects and interior designers can browse the showroom’s curated portfolio of European furniture, lighting, and surface brands while accessing detailed product information and technical specifications. Users can also download catalogs, review product imagery, and request quotations directly through the system, streamlining the process of gathering and managing project resources.

Image: Maison Territo

Maison Territo is recognized for its carefully selected portfolio of European design brands, several of which are exclusive to the Canadian market. By integrating its collections with Archiproducts, a globally recognized platform used by architects and designers to discover and compare design products, Maison Territo brings its curated offering into a digital ecosystem already familiar to many industry professionals.

While the digital showroom expands access online, Maison Territo’s Royalmount location continues to serve as an important destination for design professionals and private clients. The 11,000-square-foot showroom presents internationally recognized collections within immersive environments, allowing visitors to experience materials, finishes, and craftsmanship firsthand.

Image: Maison Territo

Grounded in the Territo family’s long-standing design legacy, Maison Territo bridges the worlds of architecture, fashion, and high-end interiors. Together, the physical showroom and the Archiproducts Digital Showroom create a complementary experience that supports design professionals who value both tactile exploration and digital research tools.

Visit the Maison Territo website to learn more. Maison Territo is located at Royalmount, 5050 Côte de Liesse #1050 Mont-Royal, QC H4P 0C9 Canada. For more information, call 514-800-0102

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Daily Synopsis: Mar 17, 2026

By
Retail Insider
-

Today’s Retail Insider articles are listed below, followed by Canadian Retail News From Around the Web. Highlights include Alimentation Couche-Tard’s strong Q3 2026 financial performance, Marugame Udon’s expansion into Toronto, and Bramalea City Centre’s revamped food court. The Canadian Food Inspection Agency’s enforcement against mislabelled food products also made the news. These developments reflect ongoing growth, evolving consumer spaces, and the heightened attention on regulatory compliance in retail.

 

🗞️ The Day’s Retail Insider Article List

 

🌐 Canadian Retail News From Around the Web

Lululemon Q4 Profit Falls as Global Growth Shifts

By
Craig Patterson
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lululemon at West Edmonton Mall (Image: West Edmonton Mall)

Vancouver-based Lululemon Athletica Inc. reported a decline in quarterly profit as revenue growth remained modest, reflecting a challenging North American environment alongside stronger international performance.

The company announced that net income for the fourth quarter ended February 1, 2026, totaled approximately $586.9 million, down from $748.4 million a year earlier. Diluted earnings per share fell to $5.01 from $6.14 in the prior year period. Revenue reached $3.6 billion, representing an increase of about one per cent compared to the same quarter last year.

However, the year-over-year comparison was impacted by the absence of a 53rd week that was included in the prior fiscal year. On a comparable basis, excluding that extra week, revenue growth was closer to six per cent.

Despite the modest headline growth, the latest Lululemon earnings exceeded analyst expectations, highlighting continued resilience in certain segments of the business even as profitability came under pressure.

Diverging Regional Performance Shapes Results

The latest results underscore what management described as a “tale of two markets,” with strong international growth offsetting continued softness in North America.

International revenue increased 17 per cent in the fourth quarter, with Mainland China emerging as a standout market, posting growth of 28 per cent. By contrast, revenue in the Americas declined four per cent, while comparable sales in the region slipped by one per cent.

This divergence reflects broader shifts in consumer demand and competitive dynamics. North America, which has historically been Lululemon’s core market, is experiencing slower traffic and increased promotional activity, while international markets continue to offer expansion opportunities and higher growth potential.

Men’s accessories at Lululemon at Yonge and Bloor in Toronto. Photo: Craig Patterson

Margin Pressure Weighs on Profitability

While revenue held steady, profitability was impacted by several factors, including rising costs and external economic pressures.

Gross margin declined by 550 basis points to 54.9 per cent, while operating margin dropped 660 basis points to 22.3 per cent. The company pointed to higher costs of goods sold, which rose nearly 15 per cent, as well as the impact of U.S. import tariffs.

Inventory levels also increased significantly, rising 18 per cent to $1.7 billion. The buildup reflects both expansion efforts and softer demand in certain regions, contributing to increased markdown activity and margin compression.

These dynamics highlight the challenges facing premium apparel brands as they balance growth, pricing power, and cost pressures in a shifting retail environment.

Digital Growth Continues to Drive Performance

One of the more positive elements in the latest Lululemon earnings was the continued strength of its digital business.

Digital revenue grew nine per cent in the quarter, reaching approximately $1.9 billion. Online sales now account for nearly 52 per cent of total revenue, reflecting a sustained shift in consumer shopping behaviour toward e-commerce.

Management indicated that digital channels are helping offset the higher operational costs associated with physical stores. At the same time, the company is leveraging digital platforms to support product launches, including its new “ShowZero” technology, which is being promoted through digital-first campaigns.

The growth of e-commerce remains a critical component of Lululemon’s strategy as it navigates changing consumer expectations and seeks to drive full-price sales.

Global Expansion Strategy Targets New Markets

Looking ahead, Lululemon is focusing its expansion strategy on international markets, particularly in Asia and Europe.

The company plans to open between 40 and 45 net new company-operated stores globally in fiscal 2026, building on a network that reached 811 locations at the end of fiscal 2025. This represents an increase from 767 stores the previous year.

In addition to organic growth, Lululemon is entering several new markets through franchise and partnership models. These include Greece, Austria, Poland, Hungary, and Romania in Europe. In Asia, the company is preparing for a major entry into India through a partnership with Tata CLiQ, scheduled for the second half of 2026.

China remains a central focus, with plans to expand further into Tier 2 cities following strong recent performance. The international strategy reflects a deliberate pivot toward higher-growth regions as North American expansion slows.

Future Lululemon store at 1035 Ste-Catherine St. W. in Montreal. Photo: Retail Insider

North American Strategy Shifts to Optimization

In contrast to its global expansion, Lululemon is taking a more measured approach in North America.

Rather than aggressively opening new stores, the company is focusing on optimizing its existing fleet. This includes relocating to larger spaces in high-performing malls, as well as evaluating successful pop-up locations for permanent conversion.

The strategy also involves refining product assortments to better align with consumer preferences. Interim leadership has indicated a shift toward a more curated offering, with fewer logos and a greater emphasis on technical lifestyle products.

This approach is intended to improve productivity and restore full-price selling in a market that has become increasingly competitive.

Leadership Transition and Board Developments

Calvin McDonald
Calvin McDonald

The latest Lululemon earnings come during a period of significant leadership transition.

Calvin McDonald officially stepped down as CEO on January 31, 2026, and is currently serving as Senior Advisor through March 31. The company is now led by Interim Co-CEOs Meghan Frank, Chief Financial Officer, and André Maestrini, Chief Commercial Officer, as the search for a permanent CEO continues.

At the board level, Lululemon confirmed that Chip Bergh, former president and CEO of Levi Strauss & Co., officially joined the board on March 17, 2026. His appointment adds significant global retail experience at a time when the company is navigating both operational and strategic shifts.

Activist Pressure Adds Strategic Complexity

Founder Chip Wilson has intensified his criticism of the company’s direction, arguing that Lululemon has strayed from its core identity.

He has called for the addition of new board members with stronger brand and product experience, while also criticizing what he views as an overreliance on discounting and a lack of innovation.

The company has pushed back against these claims, stating that Wilson has not been involved in the business for over a decade and that his comments are inaccurate and misleading.

This ongoing tension adds another layer of complexity to Lululemon’s strategic outlook as it navigates both operational challenges and governance debates.

Outlook Reflects Cautious Growth Expectations

Lululemon’s guidance for fiscal 2026 reflects a cautious outlook.

The company expects revenue to reach between $11.35 billion and $11.50 billion, representing growth of approximately two to four per cent. Earnings per share are projected to range from $12.10 to $12.30, below the $13.26 reported in fiscal 2025.

Management has emphasized a focus on improving full-price sales in North America while continuing to invest in international expansion and digital capabilities.

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Alimentation Couche-Tard reports Q3 2026 financial results

By
Mario Toneguzzi
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PHOTO: CIRCLE K

Alimentation Couche-Tard Inc. announced Tuesday its results for its third quarter ended February 1, 2026, with total merchandise and service revenues of $5.8 billion, an increase of 8.7%.

Alex Miller
Alex Miller

“For the third consecutive quarter, we delivered positive same-store sales across every region and once again outperformed the broader industry. Customers continue to respond to the value and ease of our offer, from Meal Deals to our compelling Thirst and Nicotine programs, which along with healthy fuel margins and deepening loyalty program engagement are feeding our momentum as we execute our refreshed Core + More strategy,” said Alex Miller, President and Chief Executive Officer.

“Heading into the fourth quarter of our fiscal year, I couldn’t be prouder of the teams driving these results, focused on winning our customers and embracing our vision to become the world’s favorite stop for people on the go.”

Filipe Da Silva
Filipe Da Silva

“We delivered one of our best quarterly performance in over two years, with same-store sales accelerating as the quarter progressed and contributing to solid growth in both adjusted EBITDA and earnings per share,” said Filipe Da Silva, Chief Financial Officer.

“These results validate that the actions outlined in our Business Strategy Update are translating into measurable outcomes. Continued focus on traffic, customer value and operational execution is strengthening our growth algorithm and driving long-term value creation.”

Quarterly Highlights

  • Net earnings attributable to shareholders of the Corporation were $757.2 million for the third quarter of fiscal 2026 compared with $641.4 million for the third quarter of fiscal 2025. Adjusted net earnings attributable to shareholders of the Corporation were approximately $751.0 million compared with $641.0 million for the corresponding quarter of last year, representing an increase of 17.2%.
  • Net earnings attributable to shareholders of the Corporation were $0.82 per diluted share for the third quarter of fiscal 2026 compared with $0.68 per diluted share for the third quarter of fiscal 2025. Adjusted diluted net earnings per share were $0.81, representing an increase of 19.1% from $0.68 for the corresponding quarter of last year.
  • Total merchandise and service revenues of $5.8 billion, an increase of 8.7%. Same-store merchandise revenues increased by 2.8% in the United States, by 0.4% in Europe and other regions, and by 0.3% in Canada. Consolidated same-store merchandise revenues increased by 2.0%.
  • Merchandise and service gross margin decreased by 0.1% in the United States to 33.9%, and by 0.1% in Europe and other regions to 38.9%, while it increased by 0.1% in Canada to 32.5%.
  • Same-store road transportation fuel volumes decreased by 0.4% in the United States, and by 1.6% in Europe and other regions, while it increased by 4.2% in Canada.
  • Road transportation fuel gross margin of 47.71¢ per gallon in the United States, an increase of 3.43¢ per gallon, US 10.87¢ per liter in Europe and other regions, an increase of US 1.58¢ per liter, and CA 15.82¢ per liter in Canada, an increase of CA 2.28¢ per liter.
  • Solid pipeline execution with 37 new-to-industry openings, and 8 relocated or reconstructed stores, reaching a total of 80 stores since the beginning of fiscal 2026. As of February 1, 2026, another 58 stores were under construction and should open in the upcoming quarters.

“We acquired 12 company-operated stores, reaching a total of 26 company-operated stores acquired through various transactions since the beginning of fiscal 2026. We settled these transactions using our available cash,” said the company.

“During the quarter, we completed the construction of 37 stores and the relocation or reconstruction of 8 stores, reaching a total of 80 stores since the beginning of fiscal 2026. As of February 1, 2026, another 58 stores were under construction and should open in the upcoming quarters.”

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 a presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People’s Republic of China. Approximately 149,500 people are employed throughout its network.

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