Loblaw sales topped $14B in fourth quarter amid strong grocery, pharmacy demand
Retail bellwether Walmart Inc., however, forecast its full-year earnings below estimates on Tuesday, and warned that tight spending by consumers could pressure profit margins.Story continues below advertisement
Loblaw, on the other hand, expects its full-year 2023 adjusted earnings per common share to grow in the low double-digits compared with the average analyst estimate of 9.64 per cent, according to Refinitiv IBES data. The company’s fourth-quarter revenue rose about 10 per cent to $14.01 billion, topping estimates of $13.75 billion.
On an adjusted basis, Loblaw earned $1.76 per share, beating analysts’ expectations of $1.71 per share.THE CANADIAN PRESS/Aaron Vincent Elkaim
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