BRIEF-Loblaw Q3 Earnings Per Share C$0.28
Published Nov 14, 2018 06:39
BRIEF-Loblaw Q3 Earnings Per Share C$0.28
Nov 14 (Reuters) - Loblaw Companies Ltd L.TO :
* LOBLAW REPORTS 2018 THIRD QUARTER RESULTS(1)
* Q3 REVENUE C$14.45 BILLION VERSUS I/B/E/S VIEW C$14.47 BILLION
* Q3 ADJUSTED EARNINGS PER SHARE C$1.49
* Q3 EARNINGS PER SHARE C$0.28
* QTRLY DRUG RETAIL (SHOPPERS DRUG MART) SAME-STORE SALES GROWTH WAS 2.5%
* QTRLY FOOD RETAIL (LOBLAW) SAME-STORE SALES GROWTH WAS 0.9%, EXCLUDING GAS BAR OPERATIONS
* QTRLY RETAIL SEGMENT SALES $14,105 MILLION, UP 1.7%
* Q3 EARNINGS PER SHARE VIEW C$1.44 -- THOMSON REUTERS I/B/E/S
* LOBLAW COMPANIES - IN 2018, EXPECTS TO DELIVER POSITIVE SAME-STORE SALES AND STABLE GROSS MARGIN IN RETAIL SEGMENT IN A HIGHLY COMPETITIVE MARKET
* QTRLY DRUG RETAIL (SHOPPERS DRUG MART) SAME-STORE SALES GROWTH WAS 2.5%, WITH PHARMACY SAME-STORE SALES GROWTH OF 0.5%
* LOBLAW COMPANIES - HEADWINDS FROM MINIMUM WAGE INCREASES AND HEALTHCARE REFORM CONTINUE TO NEGATIVELY IMPACT COMPANY'S FINANCIAL PERFORMANCE IN 2018
* LOBLAW COMPANIES - IN SECOND HALF, CO IS EXPERIENCING INCREASED COST PRESSURES, INCLUDING FROM SURTAX IMPOSED ON CERTAIN US IMPORTS
* IN 2018 EXPECTS TO INVEST ABOUT $1.3 BILLION IN CAPITAL EXPENDITURES, INCLUDING $1.0 BILLION IN RETAIL SEGMENT
* IN QUARTER HAS RECORDED $6 MILLION IN SPIN-OUT RELATED COSTS, IN SG&A
* LOBLAW COMPANIES -IN 2018 EXPECTS TO DELIVER ESSENTIALLY FLAT ADJUSTED NET EARNINGS GROWTH WITH POSITIVE ADJUSTED EARNINGS PER SHARE GROWTH
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Written By: Reuters
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