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Toronto Stocks Flat; Empire Co. Shares Fall on Lower Profit, Same-Store Sales Decline in 1Q

09/09/2021 | 12:22pm EST

By Adriano Marchese

Shares in Toronto were virtually flat mid-trading Thursday with technology services stocks leading, as well as process industries, offset by electronic tech and consumer durables stocks weighing mid-way through the session. Meanwhile, Empire Co. shares were lower after the food retailer said it expects changing consumer shopping habits and trends of consuming food outside the home to continue, affecting its grocery business.

Canada's S&P/TSX Composite Index was up 0.05% at 20752.21 and the blue-chip S&P/TSX 60 up 0.01% at 1242.66.

At midday, shares in Empire Co. were down 3.4% at C$38.84 after it reported slightly lower profit and a same-store sales decline in the first quarter of fiscal 2022 and said it anticipates consumer shopping habits and trends of consuming food outside the home will continue to change as Covid-19 restrictions ease.

Other market movers:

Discount retail chain Dollarama Inc. shares fell 1.5% to C$56.66 after it reported a rise in second-quarter profit and sales, though its performance was hampered by pandemic-related restrictions in Ontario, its largest market, during much of the period.

Shares in Transat A.T. Inc. fell 1% to C$4.89 after the company said its loss widened in the third quarter ended July 31 after beginning to resume operations only on July 30, but said it sees encouraging signs that the winter season may be busier than the last one.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

09-09-21 1221ET

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