Shopify Is Now More Valuable Than Two of Canada’s Oldest Companies

Canada’s Shopify Inc., an e-commerce company that went public four years ago, is now more valuable than Manulife Financial Corp. and Canadian Imperial Bank of Commerce -- two financial institutions that have been around for more than a century.

Shopify eclipsed the financial heavyweights in market value on Wednesday after announcing plans to spend $1 billion setting up a network of fulfillment centers in the U.S. and upgrades to its tools merchants use to sell products.

Shopify traded at C$438

Canada Goose Falls on Report it Revised ‘Ethical’ Claims

Canada Goose Holdings Inc. fell 4.7% on a report that it backed off claims of ethical treatment of animals used to make winter clothing following a regulatory review of its marketing.

The New York Post earlier reported that the Toronto-based company no longer claimed on its website that it sources coyote fur from animals in overpopulated areas, and had removed a video showing where it gets the down for its parkas. Canada Goose denied it made changes to its website in response to the regulatory review.