Loblaw Companies Ltd. reports Q4 profit up from year ago, revenue edges higher
A Loblaw grocery store in Toronto is shown on May 2, 2013. (Aaron Vincent Elkaim/The Canadian Press)
The Canadian Press
Published Thursday, February 21, 2019 8:35AM EST
BRAMPTON, Ont. - Loblaw Companies Ltd. reported its fourth-quarter profit improved compared with a year ago when it was hit by restructuring and other one-time charges.
The retailer says it earned a profit of $221 million attributable to common shareholders or 59 cents per share for the quarter ended Dec. 29.
That compared with a profit of $31 million or eight cents per share in the same quarter a year earlier.
Revenue totalled $11.22 billion, up from $10.99 billion.
On an adjusted basis, Loblaw says it earned $1.03 per diluted share from continuing operations, up from $1.02 per diluted share in the final quarter of 2017.
Loblaw says the results included a decline in its financial services business, offset by an improvement in underlying performance of its retail operations and the favourable impact of the repurchase of common shares.