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    Wednesday
    Nov132013

    Loblaws Releases Third Quarter Earnings

    DateWednesday, November 13, 2013 at 10:30AM
    2013 Third Quarter Summary(1)
    • Revenue of $10,009 million, an increase of 1.9% over the third quarter of 2012.
    • Retail sales growth of 1.5% and same-store sales(3) growth of 0.4% compared to the third quarter of 2012. Retail same-store sales(3) growth was negatively impacted by the timing of the Thanksgiving holiday, estimated to be 0.5% to 0.7%.
    • Financial Services revenue increased by 11.0% over the third quarter of 2012.
    • Choice Properties Real Estate Investment Trust (“Choice Properties”) completed an Initial Public Offering (“IPO”) of trust units (“Units”) and concurrent sale of Units to George Weston Limited (“Weston”).
    • Shoppers Drug Mart Corporation (“Shoppers Drug Mart”) shareholders voted in favour of the Company’s agreement to acquire all of Shoppers Drug Mart's outstanding common shares. 
    • Subsequent to the end of the third quarter of 2013, the Company announced the reduction of approximately 275 store-support positions.

     

    The Report can be found in its entirety at Loblaws Investor Relations.

    AuthorAdmin | CommentPost a Comment | Reference4 References |

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