Loblaw Companies Limited - L.t

Loblaw Companies Limited - L.t provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, banking, and wireless mobile products and services. With more than 2,300 corporate, franchised and associate-owned locations, Loblaw employ approximately 192,000 full- and part-time employees, making it one of Canada’s largest private sector employers.

On May 4, 2016 the company reported Numbers

Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") today announced its unaudited financial results for the first quarter ended March 26, 2016. The Company's 2016 First Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw.ca and will be filed with SEDAR and available at sedar.com.

"We continued to execute against our financial plan in the first quarter of 2016, achieving positive same-stores sales, stable gross margins, and higher operating earnings," said Galen G. Weston, Executive Chairman and President, Loblaw Companies Limited.
"Positive same-store sales reflected very strong performance in Drug Retail and slightly disappointing results in Food Retail. Looking ahead, we are confident that our continued focus on earnings growth along with the strength of our Company's balance sheet, will enable us to fund growth initiatives and return capital to shareholders, amidst a highly competitive retail environment and the continued pressure of healthcare reform."

2016 FIRST QUARTER HIGHLIGHTS

• Revenue was $10,381 million, an increase of $333 million, or 3.3%, compared to the first quarter of 2015.
• Retail segment sales were $10,154 million, an increase of $324 million, or 3.3%, compared to the first quarter of 2015.
  • Food retail (Loblaw) same-store sales growth was 2.6%, excluding gas bar; and
  • Drug retail (Shoppers Drug Mart) same-store sales growth was 6.3%, with same-store pharmacy sales increasing by 4.2% and same-store front store sales increasing by 8.2%.
• Adjusted EBITDA⁽²⁾ was $829 million, an increase of $40 million, or 5.1%, compared to the first quarter of 2015.
• Adjusted net earnings available to common shareholders of the Company⁽²⁾ were $338 million, an increase of $37 million, or 12.3%, compared to the first quarter of 2015. Adjusted diluted net earnings per common share⁽²⁾ were $0.82, an increase of $0.10, or 13.9%, compared to the first quarter of 2015.
• Net earnings available to common shareholders of the Company were $193 million, an increase of $47 million, or 32.2%, compared to the first quarter of 2015. Diluted net earnings per common share were $0.47, an increase of $0.12, or 34.3%, compared to the first quarter of 2015.
• The Company realized approximately $72 million of net synergies in the quarter, an incremental $28 million compared to the first quarter of 2015.
• The Company repurchased 3.4 million shares for cancellation at a cost of $231 million.
• Quarterly common share dividend increased by 4.0% from $0.25 per common share to $0.26 per common share. 

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