Retailer Roots reports fourth-quarter profit down from year ago, sales up

TORONTO -- Roots Corp. reported a fourth-quarter profit of $18.3 million, down from $20.9 million a year earlier, as its revenue edged higher.

The retailer says the profit for the quarter ended Feb. 2 amounted to 43 cents per share, down from 50 cents per share in the same quarter a year earlier.

On an adjusted basis, Roots says it earned 53 cents per share, down from 59 cents per share.

Sales totalled $130.8 million, up from $130.0 million in the fourth quarter of its 2017 financial year, which included an extra week. Excluding the extra week, Roots says sales in the quarter were up 3.1 per cent.

Comparable store sales growth amounted to 3.1 per cent.

Analysts on average had expected a profit of 50 cents per share for the quarter on $129 million in revenue, according to Thomson Reuters Eikon.

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