Grocery and drugstore retailer Loblaw reports Q4 profit and revenue up

Grocery and drugstore retailer Loblaw Cos. Ltd. reported its fourth-quarter profit and revenue rose compared with a year earlier.

The parent company of Loblaws and Shoppers Drug Mart says it earned a profit available to common shareholders of $656 million or 55 cents per diluted share for the 13-week period ended Jan. 3.

The profit was up from $462 million or 38 cents per diluted share for its fourth quarter of 2024 which included 12 weeks.

Revenue for the quarter totalled $16.38 billion, up from $14.73 billion, helped by the extra week. On a 12-week comparable basis, Loblaw said revenue rose 3.5 per cent.

Food retail same-store sales increased by 1.5 per cent, while drug retail same-store sales rose 3.9 per cent, with pharmacy and health-care services same-store sales growth of 5.6 per cent and 2.2 per cent in front store same-store sales growth.

On an adjusted basis, Loblaw says it earned 67 cents per diluted share in its latest quarter, up from 55 cents per diluted share a year earlier.