Home / Knowledge / News / Retail / Canadian retailer Loblaw Companies reports Q1 FY21 sales of $11.8 bn

Canadian retailer Loblaw Companies reports Q1 FY21 sales of $11.8 bn

07
May '21
Pic: Loblaw Companies/ Joe Fresh
Pic: Loblaw Companies/ Joe Fresh
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted marginal 0.6 per cent sales growth to $11.8 billion (Canadian dollars) in its first quarter (Q1) FY21 ended on March 27, 2021 compared to the same period previous fiscal. The company’s net earnings for Q1 FY21 rose to $335 million (Q1 FY20: $276 million).
 
The company’s e-commerce sales increased 133 per cent compared to Q1 FY20, while operating income rose 14 per cent to $617 million.
 
“A year into the pandemic, our stores, supply chain and digital assets have demonstrated resilience and innovation and are better prepared than ever to serve the needs of Canadians,” Galen G Weston, executive chairman, Loblaw Companies Limited, said in a press release. “Our strong financial results reflect continued momentum and positive consumer response to the value and services in our stores and our expanding online solutions.”
 
Retail segment sales which includes in-store pharmacies and other health and beauty products and apparel and other general merchandise, rose 0.7 per cent to $11,670 million ($11,584 million).

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jun 2021

80% of unwanted textiles in Australia’s NSW end up in landfill in 2020

Of almost 305,000 tonnes of textiles discarded in Australia’s New...

Pic: Shutterstock

Textiles | On 19th Jun 2021

More than 75% of S Korean exporters to China hit by pandemic: survey

A survey of 540 South Korean exporting firms by the Korea...

Pic: Shutterstock

Textiles | On 19th Jun 2021

Reimagine India’s innovation agenda for textile-apparel sector: Koshy

Resetting and reimagining the innovation agenda for the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under our own supervision

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search