A humorous look at the companies that caught our eye, for better or worse, this week
Budget-friendly ways to extend the life – and upgrade the look! – of your old vehicle: 1) apply duct tape in a range of vibrant colours to secure detached bumper; 2) replace smashed windows with crisp, new plastic sheeting; 3) tie down loose trunk lid with decorative braided rope. With soaring interest rates making people think twice before trading in their clunkers for newer rides, AutoCanada wrote down its used-vehicle inventory by $12.4-million and absorbed a $13.
Shares of Kontoor Brands – which makes denim and other clothing under the Lee, Wrangler and Rock & Republic names – were enjoying some hefty gains after the company posted better-than-expected results for the fourth quarter and issued strong 2023 guidance. With revenue rising 7 per cent to US$731.6-million and earnings jumping 18 per cent to US$51.6-million, investors are stuffing their jeans with cash.
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