Inflation Just Hit 2.4%, but These 2 Canadian Stocks Still Look Like Buys
Canada's inflation rate rose to 2.4% in March, driven by energy prices and food costs, but two Canadian stocks, Aritzia and National Bank, remain attractive investments due to their strong performance and growth prospects. Aritzia reported record quarterly net revenue of $1.04 billion, up 42.8% year over year, while National Bank posted net income of $1.25 billion, up from $997 million a year earlier.
Canada's inflation rate climbed to 2.4% in March, driven by surging energy prices and persistent food cost pressures. Despite this, two Canadian stocks, Aritzia and National Bank, are worth considering. Aritzia reported record quarterly net revenue of $1.04 billion, up 42.8% year over year, driven by strong e-commerce growth and U.S. expansion. National Bank posted net income of $1.25 billion, up from $997 million a year earlier, following its Canadian Western Bank acquisition. Aritzia's growth prospects are supported by its loyal customer base and digital momentum, while National Bank's broader earnings base and scale addition from the acquisition contribute to its attractiveness. Both stocks have demonstrated strong performance despite the inflationary environment.
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