Toronto Stocks Slide; Goodfood Market Shares Fall on 1Q Miss

By Adriano Marchese

Stocks in Toronto were sharply lower mid-trading Tuesday, in line with most global markets. In the session, most sectors were down with consumer durables and tech sectors weighing the most. Shares in Goodfood Market Corp. tumbled after reporting a widened loss in the first quarter as sales fell more than analysts had expected.

Canada's S&P/TSX Composite Index fell 1.07% to 21306.65. The blue-chip S&P/TSX 60 was down 1.14% to 1296.58.

Goodfood Market Corp. shares fell 8.2% to C$3.38 after it reported a per-share loss of C$0.29, compared with a per-share loss of C$0.05 a year earlier. Sales fell 15% to C$77.8 million amid falling demand, missing a consensus analyst forecast of C$79.1 million.

Other market movers:

Tourmaline Oil Corp. shares rose 2.7% to C$47.30 after it raised its dividend 11% and said it would issue a special dividend.

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

01-18-22 1218ET