Loblaw reports 6.9% sales rise in Q3 FY20 to $15.6 bn
13 Jan '21
1 min read
Pic: Shutterstock
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted 6.9 per cent sales growth to $15,671 million (Canadian dollars) in its third quarter (Q3) FY20 ended on October 3, 2020 compared to sales of $14,655 million in same period previous fiscal. Operating income for Q3 rose 4.1 per cent to $718 million (Q3 FY19: $690 million).
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted 6.9 per cent sales growth to $15,671 million (Canadian dollars) in its third quarter (Q3) FY20 ended on October 3, 2020 compared to sales of $14,655 million in same period previous fiscal. Operating income for Q3 rose 4.1 per cent to $718 million (Q3 FY19: $690 million).#
Company’s e-commerce sales increased 175 per cent in Q3 FY20, across the grocery, pharmacy, and apparel e-commerce platforms.
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted 6.9 per cent sales growth to $15,671 million (Canadian dollars) in its third quarter (Q3) FY20 ended on October 3, 2020 compared to sales of $14,655 million in same period previous fiscal. Operating income for Q3 rose 4.1 per cent to $718 million (Q3 FY19: $690 million).#
“Loblaw delivered strong operating performance in the quarter, while investing in providing exceptional value, safety and convenience,” Galen Weston, executive chairman, Loblaw Companies Limited, said in a press release.
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted 6.9 per cent sales growth to $15,671 million (Canadian dollars) in its third quarter (Q3) FY20 ended on October 3, 2020 compared to sales of $14,655 million in same period previous fiscal. Operating income for Q3 rose 4.1 per cent to $718 million (Q3 FY19: $690 million).#
Retail segment sales increased 6.7 per cent, due to positive same-store sales growth and a net increase in retail square footage.
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), posted 6.9 per cent sales growth to $15,671 million (Canadian dollars) in its third quarter (Q3) FY20 ended on October 3, 2020 compared to sales of $14,655 million in same period previous fiscal. Operating income for Q3 rose 4.1 per cent to $718 million (Q3 FY19: $690 million).#
“We continued to build for the future, expanding our digital network and leveraging our PC Optimum loyalty programme to create even more value for Canadian families,” Weston said.
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