The Daily Chase: Canadian Tire's big profit miss; More inflation relief in U.S.

We’ve been wondering how major Canadian retail companies would fare after Walmart and a long list of other U.S. retailers got walloped in recent weeks amid warnings about inflationary pressures and inventory woes, among other headaches.

MORE FROM THE CANADIAN CONSUMER FILES

Cineplex is profitable again. The movie theatre operator posted $1.3 million in net income in the second quarter, marking a milestone after a punishing couple of years of pandemic existence. Attendance surged 866 per cent (!) year-over-year, thanks to a lineup of blockbusters that inspired movie theatres to chow down: concession revenue per patron climbed to a record of $8.84 in the quarter. Apart from the results, there’s also this interesting nugget in the release: Cineplex said it has retained Moelis & Company as a financial advisor to help “maximize and monetize the value” of the judgment in the legal fight with Cineworld, stemming from the failed takeover attempt. That judgment $1.24 billion in damages owed to Cineplex, is heading to the Ontario Court of Appeals next month. Cineplex CEO Ellis Jacob joins us at 1:10 p.m. EDT.