Dylex shares sink 27% after retailer announces charge

Article Abstract:

Specialty retail chain Dylex Ltd of Toronto, Ontario, has announced that it is taking a charge of C$25 million againsts earnings in the 2nd qtr FY99. The company said that C$12.5 million would eliminate the overstatement of inventory resulting from startup problems at its new distribution enter, shrinkage and accounting errors. The remaining C$12.5 million would cover bad debts and restructuring costs.

Males' Clothing, Retail, Men's Clothing Stores, Dylex Ltd.

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Market turmoil hits BCE Emergis

Article Abstract:

Electronic commerce company BCE Emergis Inc were sold down by investors from C$40 per share in July 1999 to C$27.50 in early Aug as worries over rising interest rates caused a shakedown in Internet-related stocks. BCE Emergis, the e-commerce unit of BEC Inc of Montreal, Quebec, recently reported a loss of 23 cents a share in the 2nd qtr 1999.

On-Line Information Services, Videotex & Teletext, Internet services, Bce Emergis Inc.

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Profit picture looks peachy

Article Abstract:

Although signs point to a slowing economy many market analysts forecast strong second quarter earnings for many Canadian companies.

Business, Economic aspects, Finance

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