BRAMPTON — Loblaw Companies Ltd. reported its first-quarter profit rose compared with a year ago as the company saw strong customer response to loyalty offers and promotions.
The parent company of Loblaws and Shoppers Drug Mart says its net earnings available to common shareholders amounted to $503 million or $1.66 per diluted share for the quarter ended March 22.
The result was up from a profit of $459 million or $1.47 per diluted share in the first quarter of 2024.
On an adjusted basis, Loblaw says it earned $1.88 per diluted share in its latest quarter, up from an adjusted profit of $1.72 per diluted share a year earlier.
Revenue for the quarter totalled $14.1 billion, up from $13.6 billion, as food retail same-store sales rose by 2.2 per cent.
Drug retail same-store sales rose 3.8 per cent, with pharmacy and health care services same-store sales up 6.4 per cent, and front store same-store sales increasing 0.9 per cent.
This report by The Canadian Press was first published April 30, 2025.
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