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Highlights
- Many lovestruck Canadians are busy planning their Valentine’s Day celebrations, which is due on Monday, February 14.
- With a section of consumers spending good money on making Valentine’s Day special, there is a set of companies that are likely to see their sales figures surge during this time.
- A TSX wine manufacturer and seller listed here saw its net profit rise by 13 per cent year-over-year (YoY) to C$ 8.9 million in the latest quarter.
Many lovestruck Canadians are busy planning their Valentine’s Day celebrations, which is due on Monday, February 14. While some are planning the perfect date and shopping for chocolates and flowers, others are busy looking for the best gift possible.
With a section of consumers spending good money on making Valentine’s Day special, there is a set of companies that are likely to see their sales figures surge during this time.
So, investors who are looking to make some investments as Valentine’s Day comes a-knocking, here are two TSX-listed stocks that you can explore.
Corby Spirit and Wine Limited (TSX: CSW.B)
Corby Spirit and Wine is a Toronto-headquartered winemaker that offers spirits and imported wines under different brand names in the Canadian and international markets.
With wine being a common gift and beverage used to celebrate an occasion, Corby could see a notable increase in its sales during the Valentine week.
The liquor manufacturer and seller increased its net profit by 13 per cent year-over-year (YoY) to C$ 8.9 million in the latest quarter.
Corby, which currently has a return on equity (ROE) of 14.93 per cent, saw its adjusted revenue reach C$ 47.8 million in Q2 FY2022, which was a nine per cent growth YoY from C$ 44 million a year ago.
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The alcohol company will also dole out a quarterly dividend of C$ 0.24 per share to its shareholders on March 4.
Stocks of Corby Spirit increased by about two per cent in the last one month.
Image source: © 2022 Kalkine Media®
Data source: Corby Spirit and Wine Limited
Rogers Sugar Inc (TSX: RSI)
Rogers Sugar can also see some increase in demand during the Valentine week for its key products, sugar and maple, as they can be important ingredients in popular Valentine’s Day treats like cakes and candies.
The Canadian sugar producer’s top line reached C$ 230.75 million in the first quarter of fiscal 2022, as compared to C$ 223.84 million a year ago.
Rogers Sugar also posted a profit of C$ 17.22 million in the latest quarter, up from C$ 13.77 million in Q1 FY2021.
The C$ 617-million market cap firm is scheduled to pay a quarterly dividend of C$ 0.09 apiece on April 20.
Rogers stock grew by almost 14 per cent in the past 12 months.
Bottomline
While a surge in demand for their key products around Valentine’s Day could boost sales for companies like Corby and Rogers Sugar, such projections cannot be set in stone. Hence, investors should ideally go beyond trends and delve into a company’s financials and other such factors before making any investment decisions.
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