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  • Pierre Fournier

Prof. Fournier Press Review: February 21 – February 25

Agenda: Airbus, Exxon, Hexo, Freshii and 7-Eleven, Metro

Airbus will be recruiting several new employees in 2022. Airbus announced excellent news. Indeed, it will recruit more than 5,000 new employees in the first six months of 2022. Airbus expects a strong recovery following the end of the Covid-19 crisis. According to ACTU Toulouse, new Airbus employees will be assigned to all Airbus sectors, and the majority of countries where Airbus has its factories will benefit from these hires. At the start of the Covid-19 crisis in 2020, Airbus had reduced its production activities by nearly 38%, which had led to several job cuts.

Major investment projects for ExxonMobil. The American company specializing in the energy sector, ExxonMobil, confirms the objective of devoting nearly 25 billion US dollars per year for the next five years. One of the sectors that will benefit from Exxon's investment is the field of renewable energy. Exxon is already a leader in several sectors related to the energy sector, both in the field of oil and natural gas. Additionally, they recognize that renewable energies are crucial investments for both the company and the planet. Exxon had already established this investment plan before the 2020 pandemic. With the numerous economic shutdowns since March 2020, the company had put this investment project on hold and now judges that it is more favorable to go forward with this renewable energy project.

New expense reduction plan for Hexo. According to BNN Bloomberg, Canadian cannabis producer Hexo has established a plan to reduce expenses by approximately 25% in light of disappointing financial results. It aims to achieve this objective before the end of the 2023 financial year. In the last quarters, sales were below expectations, and the company had no choice but to implement an expenditure reduction plan. The departure of the company's founder that occurred a few months ago explains the placement of this restructuring program. Recently, Hexo announced the end of its partnership with Belleville Complex and this transaction generated 10 million dollars for their company.

Partnership between Freshii and 7-Eleven. According to Freshii's press release, Freshii has announced a partnership with the Canadian division of the 7-Eleven. According to this agreement, Freshii will sell food in all 7-Eleven convenience stores located in Canada, which represents more than 500 points of sale in the country. Freshii points out that 7-Eleven's excellent reputation and expertise mean that this business partnership should be very profitable for both companies and will help promote Freshii's healthy meals.

Excellent quarter for Metro Inc. and increase in dividends. Metro, the Quebec-based food and pharmaceutical company, reports another outstanding quarter. According to Metro’s press release, during the last quarter, Metro's profits increased by nearly 9% compared to the same quarter a year earlier. Metro is also announcing excellent news for its shareholders with a 10% increase in its dividends. Metro mentions that the two important divisions of the company, the grocery store and its pharmacy, have contributed very well to its profit. Metro is confident for the next few quarters of 2022 despite future inflation rates.


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