While most investors will be watching as some of the biggest tech companies south of the border report earnings this week – like Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) – there are a few things Canadian investors might want to keep on their radar.
Shopify Reports Earnings
Canadian tech company Shopify Inc (TSX:SHOP) will report its second-quarter earnings on Wednesday. The Ottawa-based e-commerce platform has been a big winner as a result of the wider adoption of online shopping habits during the COVID-19 pandemic. In the past year, the company has seen its stock price increase by an impressive 181.5%. The stock closed Friday at $1,247.01, marking a 0.2% increase on the day. It is anticipated that the company will reveal a strong showing in the number of merchants that have adopted its platform since the lockdown periods.
The company could also show a long-term plan to keep costs in check as it expands in the wake of a statement made by its CEO, Toby Lutke, announcing that the company could adopt a permanent work-from-home model for all employees.
George Weston and Imperial Oil Report
Other notable Canadian earnings reports on the calendar for this week include George Weston Limited (TSX:WN) unveiling its latest financial results on Tuesday. George Weston is the parent company of Loblaws, the country’s largest grocery and drug retailer; Choice Properties Real Estate Investment Trust, Canada’s largest diversified REIT; and Weston Foods, a producer of baked goods.
On Friday, Imperial Oil Ltd (TSX:IMO) will unveil its second-quarter earnings.
In the first quarter, Imperial Oil reported a net loss of income as the pandemic triggered a drop in demand and saw oil prices hit a historic low. Now, production has been stepped up and prices have increased as consumers emerge from lockdowns and shutdowns ease in most parts of the country.
Q2 Real Estate Stats
On Thursday, Statistics Canada will release its latest real estate figures for the second quarter of 2020, focusing on price trends in key Canadian markets.
After coming to an abrupt halt earlier this year due to the pandemic, housing sales in June had bounced back to pre-pandemic levels, according to the Canadian Real Estate Association. StatsCan figures are expected to echo these numbers.
Women Working Less Since Pandemic
StatsCan will also release a report that will provide more insight to consumer reaction during the pandemic. On Wednesday, the statistical service will offer a snapshot of child-care use during economic shutdown and how the reopening is going.
According to figures for June, employment recovery has been the slowest for one sector of the workforce – mothers with young children. According to the June Labour Force Survey released earlier this month, women with school-age children are working fewer than half the hours logged before the pandemic.