Shares of Lululemon are trading up in pre-market trading and set to open at a record high. The athletic retailer topped analyst expectations in the first quarter, and delivered another quarter of double-digit growth in same-store sales. The Vancouver-based company has also boosted its outlook for the rest of the year and plans to double its digital revenues by 2023.
OIL RISES AFTER REPORTS OF TANKER ATTACK
The price of oil is on the rise after reports two tankers were damaged in a suspected attack in the Gulf of Oman off the coast of Iran. The North American benchmark – West Texas Intermediate — has rallied by about 2.5 per cent while Brent crude has jumped by as much as four per cent.
IN CONVERSATION WITH SEYMOUR SCHULICH
And don’t miss BNN Bloomberg’s one-on-one interview with outspoken Canadian investor Seymour Schulich. He sits down with Amanda Lang today on Bloomberg Markets for the full half hour to discuss Canada’s competitiveness and the future of the energy and mining sectors.
DOLLARAMA REPORTS STRONG SAME-STORE SALES GROWTH
Dollarama is another Canadian retailer that will be in the spotlight today. First-quarter profit at the discount store is up about two per cent and same store sales came in well above expectations.
OTHER NOTABLE STORIES
-St. Louis Blues defeated Boston Bruins 4-1 in Game 7 to win the franchise’s first NHL championship. Of course, on this side of the border the focus remains on the court with the Toronto Raptors taking another stab at grabbing their first NBA championship tonight when the face the Warriors in game 6 in Oakland.
-Husky Energy has been fined $3.8 million for a pipeline leak into North Saskatchewan River
-CTV News is reporting Prime Minister Justin Trudeau is planning to visit Washington, D.C. later this month to meet U.S. President Donald Trump ahead of the G-20 summit in Japan
-Notable earnings: HBC, Dollarama, Transat
-Notable data: Canadian national balance sheet and financial flow accounts, Canadian new housing price index
-10:00 a.m. ET: Parliamentary Budget Officer releases report estimating the additional carbon price that would be need to achieve Canada's GHG emissions target in 2030 under the Paris Agreement and the impact on the Canadian economy
-2:30 p.m. ET: Finance Minister Bill Morneau and Organized Crime Reduction Minister Bill Blair hold news conference in Vancouver to discuss plan for combatting money laundering
-Alberta Premier Jason Kenney meets with New Brunswick Premier Blaine Higgs in Fredericton
Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Today's note was written by Senior Producer Alicia Harvey. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.