BRAMPTON, Ont. — Loblaw beat analyst forecasts for the quarter, the Financial Post reports, boosted by strong sales in its pharmacy business at Shoppers Drug Mart, which the retail group acquired this year. Same-store front sales grew 2.5% at Shoppers, while Loblaw saw overall 1.6% growth. Loblaw’s revenue rose 36% to $13.6 billion, a quarter of that coming from Shoppers Drug Mart. The merger saved Loblaw about $44 million in the quarter, but also cost it $46 million in restructuring and reorganization expenses. Net earnings fell to $142 million from $150 million. Adjusted basic net earnings was 90 cents per share, slightly ahead of the average forecast of 87 cents.
Shoppers deal buoys Loblaw results
Most Recent
Most Read
Throwback Thursday: 25 years ago, Millwork Home Centre marked its 50th anniversary
Thu, May 15th, 2025
RONA completes more banner conversions in Quebec
Thu, May 15th, 2025
Ottawa will review Sunoco purchase of Parkland Corp.
Thu, May 15th, 2025
Ace Hardware reports Q1 revenue increase
Thu, May 15th, 2025
RCCSTORE25 brings together industry innovators
Wed, May 14th, 2025
Quebec’s Luxo Marbre gets new owners
Wed, May 14th, 2025
RONA’s IT exec named to Reitmans board
Wed, May 14th, 2025
Vista Railings adds Joe Jacklin
Tue, May 13th, 2025
Orgill inks Latin American partnership with Sodimac
Tue, May 13th, 2025
AD Building Supplies – Canada signs Ontario member
Tue, May 13th, 2025