Loblaw revenue grows 3.3% in Q4 FY19

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

Retail segment sales in Q4 increased 3.1 per cent to $11,321 million compared to same period prior year. Food retail (Loblaw) same-store sales increased 1.9 per cent. Drug retail (Shoppers Drug Mart) same-store sales grew 3.9 per cent, with pharmacy same-store sales growth of 6.1 per cent and front store same-store sales growth of 2.2 per cent. 

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

Operating income in the quarter increased 21.6 per cent to $541 million. Net earnings available to common shareholders of the company from continuing operations were $254 million.

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

For complete FY19, delivered food retail same-store sales grew 1.1 per cent and drug retail same-store sales increased 3.6 per cent.

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

The company reported that the revenue in last eight quarters was impacted by various factors including, seasonality, which was greatest in the fourth quarter and least in the first quarter; the timing of holidays; macro-economic conditions impacting food and drug retail prices; consolidation of franchises; and changes in net retail square footage. 

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

In the outlook for upcoming fiscal year, company reported that it will remain focused on delivering process and efficiency improvements to offset increasing costs and to fund continued incremental investments in infrastructure and to support its strategic growth areas of everyday digital retail, connected healthcare and payments & rewards.

 

Loblaw Companies Limited, Canadian food retailer (also retails apparel brands), posted 3.3 per cent increase in its revenue to $11,590 million (Canadian Dollars) in Q4 FY19 compared to same quarter prior year. For complete fiscal 2019 that ended on December 28, 2019, revenue grew 2.9 per cent from $46,693 million in FY18 to $48,037 million.#

In 2020, the Loblaw states that their results will include the impact of a 53rd week, which is expected to benefit adjusted net earnings per common share by approximately $0.08. On a full-year comparative basis, excluding the impact of the 53rd week, company expects to, deliver positive same-store sales and stable gross margin in the retail segment in a highly competitive market; deliver positive adjusted net earnings growth; invest approximately $1.1 billion in capital expenditures, net of proceeds from property disposals; and return capital to shareholders by allocating a significant portion of free cash flow to share repurchases.