Loblaw expects full-year 2023 adjusted earnings per common share to grow in low double-digits compared with the average analyst estimate of 9.64%
forecast annual earnings above analysts’ expectations on Thursday, helped by strength in its pharmacy business and as demand holds up for groceries.
Loblaw expects full-year 2023 adjusted earnings per common share to grow in low double-digits compared with the average analyst estimate of 9.64 per cent, according to Refinitiv IBES data. Rising prices are forcing budget-conscious consumers to prioritize spending on essentials like food and medicines and trade down to cheaper private-label items from higher-priced brands, benefiting retailers such as Loblaw.
The company’s fourth-quarter revenue rose about 10 per cent to C$14.01-billion , topping the average estimate of C$13.75-billion. On an adjusted basis, Loblaw earned C$1.76 per share, beating analysts’ expectations of C$1.71 per share.Your Globe
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