Loblaw Companies Ltd. reports Q4 profit up from year ago, revenue edges higher

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.

Let's block ads! (Why?)