Overview

• The retailer reported C$14.67 billion in second-quarter revenue and C$2.40 in adjusted earnings per share, exceeding analyst forecasts.
• Same-store sales climbed 3.5% in food retail and 4.1% in its drug segment as value-focused shoppers drove higher traffic.
• Loblaw reaffirmed its annual adjusted profit growth forecast in the high single digits and held its guidance unchanged.
• The company announced a four-for-one stock split to improve share affordability for retail and employee investors.
• It is investing C$2.2 billion to open 80 new grocery and pharmacy locations—including 50 discount-format stores—and has onboarded 130 Canadian suppliers.