'Cybersecurity incident' shuts down London Drugs stores across Western Canada
All 79 locations of pharmacy and retail chain London Drugs were shut down Sunday after it was the victim of a “cybersecurity incident.”
Retail sales fell 2.5 per cent to $61.3 billion in July, the first drop in seven months as sales at gasoline stations and clothing and clothing accessories stores decreased, Statistics Canada said Friday.
The drop was deeper than the 2.0 per cent drop that the agency had predicted in its early estimate for the month, however its initial estimate for August pointed to a gain of 0.4 per cent for the month.
CIBC economist Karyne Charbonneau said retail sales had been more resilient than expected in the past couple of months given high inflation, rising interest rates and a shift to service consumption.
"The weaker-than-expected July data finally provides some evidence that the expected shift away from goods consumption and the impact of higher rates are starting to materialize more meaningfully," Charbonneau wrote in a report.
"This is the type of data the Bank of Canada will be looking for as it enters what should be the last stage of its hiking cycle. We continue to expect another (half percentage point) increase in October, before further evidence of a cooling economy allows the bank to pause its rate increases."
The Bank of Canada raised its key interest rate target by three-quarters of a percentage point to 3.25 per cent earlier this month in its fight to bring inflation under control. The Canadian central bank's next interest rate decision is scheduled for Oct. 26 when it will also publish its updated forecast for the economy in its monetary policy report.
Statistics Canada said Friday retail sales in July were down in nine of the 11 subsectors it tracks, representing 94.5 per cent of retail trade.
Sales at gasoline stations fell 14.2 per cent for the month as gasoline prices fell 9.2 per cent and sales at gasoline stations in volume terms decreased 7.0 per cent.
Meanwhile, sales at clothing and clothing accessories stores dropped 3.3 per cent as clothing store sales fell 3.3 per cent and shoe stores slipped 6.5 per cent. Jewelry, luggage and leather goods stores lost 0.6 per cent.
The miscellaneous stores category, which includes pet stores, cannabis stores and office supplies and stationery stores, saw sales rise 0.7 per cent.
Core retail sales -- which exclude gasoline stations and motor vehicle and parts dealers -- fell 0.9 per cent.
In volume terms, retail sales fell 2.0 per cent in July.
This report by The Canadian Press was first published Sept. 23, 2022.
All 79 locations of pharmacy and retail chain London Drugs were shut down Sunday after it was the victim of a “cybersecurity incident.”
Three women diagnosed with HIV after getting 'vampire facial' procedures at an unlicensed medical spa are believed to be the first documented cases of people contracting the virus through a cosmetic procedure using needles.
Elias Lindholm scored 1:02 into overtime and the Vancouver Canucks came all the way back to beat the Nashville Predators 4-3 in Game 4 of their first-round playoff series on Sunday.
One person was killed in a six-vehicle crash on Highway 400 in Innisfil Friday evening.
Aerial photos posted by Chinese state media on Sunday showed wide devastation in part of the southern city of Guangzhou after a tornado swept through the day before, killing five people, injuring dozens others and damaging more than 140 buildings.
Ontario is introducing a suite of measures that will crack down on cellphone use and vaping in schools.
Australia's Prime Minister Anthony Albanese on Monday described domestic violence as a 'national crisis' after thousands rallied around the country against violence toward women.
Rookie goalie Arturs Silovs will start in net for the Vancouver Canucks when they face the Nashville Predators in Game 4 of their first-round playoff series Sunday.
U.S. intelligence officials have determined that Russian President Vladimir Putin likely didn't order the death of imprisoned opposition leader Alexei Navalny in February, according to an official familiar with the determination.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
As if a 4-0 Edmonton Oilers lead in Game 1 of their playoff series with the Los Angeles Kings wasn't good enough, what was announced at Rogers Place during the next TV timeout nearly blew the roof off the downtown arena.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.