The North West Company is a leading retailer of food and everyday products and services to rural communities and urban neighborhoods across Canada and Alaska. The Company operates 203 stores under a number of trading names, including Northern, NorthMart, Giant Tiger and AC Value Center, and provides catalogue shopping services through its Selections catalogue in northern Canada.
While the TSX shed 222 points today, shares of North West Company Fund (NWF.UN) gained 0.78%. Shares of NWF.UN are currently yielding 4.2%, interim revenue is up 9.7%, interim ea/sh is up 15% and the P/S is 1.04.
From yesterday's press release: The North West Company Fund (TSX:NWF.UN) and Cost-U-Less, Inc. (NASDAQ:CULS) jointly announced today that they have entered into a definitive agreement under which The North West Company will acquire Cost-U-Less, a leading operator of mid-size warehouse stores in remote island communities in Hawaii, the South Pacific and the Caribbean, for US $52.2 million, or US $11.75 per share in cash. Based on how well NWF.UN shares held up today, it appears that the market has reacted favourably to the announcement.
Late today, I added to my holdings of North West Company Fund.
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