loblaw's quarterly report 2020

Unless otherwise indicated, the following fourth quarter highlights include the impacts of the consolidation of franchises, and COVID-19 and are presented on a comparable(4) 12 week basis. Payments and Rewards Three years after the launch of PC Optimum, the Company has continued to introduce more ways for customers to earn and redeem everyday rewards to strengthen the loyalty loop and increase share of wallet. The Company's expectation of operating and financial performance in 2021 is based on certain assumptions including assumptions about the COVID-19 pandemic, healthcare reform impacts, anticipated cost savings and operating efficiencies and anticipated benefits from strategic initiatives. Wed., April 29, 2020timer3 min. HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Food Retail (Loblaw) same-stores sales growth, Drug Retail (Shoppers Drug Mart) same-store sales growth. Loblaw revenue in the first quarter of 2020 was $11,800 million, an increase of $1,141 million, or 10.7%, compared to the same period in 2019, primarily driven by retail sales. available in the Investors section of the Company’s website at loblaw.ca and will be filed on SEDAR and available at sedar.com. Same-store food sales, an important gauge of year-over-year growth in retail, grew by 8.6% in the fourth … Retail segment sales were $15,464 million. The Company recorded approximately $12 million of restructuring and other related charges, primarily related to Process and Efficiency initiatives. When compared to the third quarter of 2019, this represented an increase of $28 million, or 4.1%. Food retail (Loblaw) same-stores sales growth was 6.9%. Unless otherwise indicated, Loblaw’s operating results include the impacts of COVID-19 and the consolidation of franchises. Diluted net earnings per common share were $0.96. The Company launched the PC MoneyTM Account, a simple no-fee way to do everyday banking, turning the act of paying bills and shopping into a way to receive PC Optimum rewards. In 2020, PC Financial® successfully launched its new PC Money™ Account, offering Canadians convenience and PC Optimum rewards for their everyday banking activities. In the third quarter of 2020, the Company repurchased 5.0 million common shares at a cost of $350 million. Loblaw Companies Limited will host a conference call as well as an audio webcast on February 25, 2021 at 10:00 a.m. (ET). However, Loblaw anticipates that grocery sales will remain elevated in the first half due to continued impact of the pandemic, including the impact of lockdown measures in many jurisdictions. Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "strive", "will", "may", "should" and similar expressions, as they relate to the Company and its management. This News Release should be read in conjunction with Loblaw Companies Limited’s filings with securities regulators made from time to time, all of which can be found at sedar.com and at loblaw.ca. Loblaw Companies Limited does not currently have any hardcopy reports on AnnualReports.com. The Financial Services segment provides credit card and everyday banking services, the PC Optimum™ Program, insurance brokerage services, and telecommunication services. The Company’s 2020 Third Quarter Report to Shareholders will be available in the Investors section of the Company’s website at loblaw.ca and will … Looking ahead, we have financial momentum, our strategy has advanced, and our core business is well positioned.". Adjusted EBITDA² was $1,524 million. The Company’s e-commerce initiative continued to contribute to Everyday Digital sales which have grown 175% on a quarter-to-date basis. These measures do not have a standardized meaning prescribed by GAAP and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with GAAP. “As it turned out, (the first quarter) was a tale of 14 days, when the government offered their pandemic warning and suggested Canadians prepare for a long stretch at home,” Loblaw president Sarah Davis said on a conference call … For the balance of the first quarter, both Food and Drug same-store-sales will lap consumer stockpiling that began in the first quarter of 2020. For the periods ended January 2, 2021   and December 28, 2019, (millions of Canadian dollars except    where otherwise indicated), Net earnings attributable to   shareholders of the   Company, Net earnings available to   common shareholders of the   Company(i), Adjusted net earnings available to   common shareholders of the    Company(2), Diluted net earnings per   common share ($), Adjusted diluted net earnings per   common share(2) ($), Diluted weighted average   common shares outstanding  (in millions). Non-GAAP Financial Measures Policy Change Commencing Fiscal 2021. The only place for free North American stock rankings incorporating insider commitment. For the years ended January 2, 2021 and   December 28, 2019, Net interest expense and other financing charges. Subsequent to the end of the fourth quarter of 2020, the Board of Directors declared a quarterly dividend on Common Shares and Second Preferred Shares, Series B. Loblaw Companies (TSE:L) Earnings Information. In 2021, Loblaw expects to invest approximately $20 million in incremental operational expenses to continue to digitize its pharmacy operations, increase its pharmacy services and expand the functionality and user base of its new PC Health app, a consumer gateway for consumer healthcare products and services. The grocery and drug store retailer says it will now pay a quarterly dividend of 33.5 cents per share, up from 31.5 cents per share. Looking ahead, the COVID-19 pandemic has accelerated certain longer-term trends, enabling the Company to advance its strategic growth areas of Everyday Digital Retail, Connected Healthcare Network, and Payments and Rewards. "In stores and online, our network met the challenge of outsized sales growth, keeping Canadians fed and well," said Galen G. Weston, Executive Chairman, Loblaw Companies Limited. On a comparable week basis Food Retail basket size increased and traffic decreased in the quarter. The Company’s 2020 Third Quarter Report to Shareholders will be In Drug Retail, strength in convenience categories supported front store sales while the pandemic negatively impacted higher margin categories. PDF. REVENUE. The Company invested $396 million in capital expenditures and generated $121 million of free cash flow². BRAMPTON, Ont. ROA % is calculated as Net Income divided by its average Total Assets over a certain period of time. The Company believes that in the long term, sustained leadership in digital retail will enhance customer value through a comprehensive omnichannel solution. The following table provides the Company's fourth quarter highlights both including and excluding the approximate impact of the 53rd week: For the periods ended January 2, 2021 and December 28, 2019, (millions of Canadian dollars except where otherwise indicated), Diluted net earnings per common share ($), Adjusted diluted net earnings per common share(2) ($). AS. Tel 514-982-7555 (International direct dial) The COVID-19 pandemic impacted the Company's operations. Home of the insider insights newsletter and the Canadian Insider Club which offers alerts and premium research. For information regarding share transfer, address changes, dividends, lost share certificates or tax forms, please contact Loblaw’s Registrar and Transfer Agent: 100 University Avenue Shipping Information. To access via audio webcast, please go to the "Investors" section of loblaw.ca. This change would not have impacted previously reported Retail segment gross profit, Retail segment adjusted gross profit and Retail segment adjusted gross profit percentage or adjusted net interest expense and other financing charges, as reported in the Company's 2020 annual and interim MD&A. Revenue was $15,671 million. Toronto, Canada A Cision company. Investments in Data Driven Insights have established a data asset that has long-term strategic value, creating opportunities to improve the customer experience, build new revenue streams, and lower operating costs. Quarterly common share dividend to be increased by 6.3% from $0.315 per common share to $0.335 per common share. Consolidation of franchises in the fourth quarter of 2020 resulted in a year-over-year increase in revenue of, Revenue in the fourth quarter of 2020 was, In the fourth quarter of 2020, earnings before income taxes were. Adjusted EBITDA) margin² was 9.7%. ®/TM Trademarks of Loblaws Inc., used under license. Net earnings available to common shareholders of the Company were $342 million. The Company's 2020 First Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw.ca and will be filed on SEDAR and available at sedar.com. BRAMPTON, ON, July 23, 2020 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the second quarter ended June 13, 2020.The Company's 2020 Second Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw… Going forward, these initiatives are targeted to offset normal inflationary headwinds, generating savings in excess of $200 million annually. Toll Free Tel 1-800-564-6253 (Canada and US) Tel 514-982-7555 (International direct dial) Fax 416-263-9394 Toll Free Fax 1-888-453-0330. The Company is focused on driving improvements in digital profitability over time through operational efficiencies and technology, sales and margin incrementality, and using its unique data set for more relevant and measurable promotion and advertising opportunities. Unless otherwise indicated, the following financial information includes the impacts of the consolidation of franchises, COVID-19 and the 53rd week. Loblaw reports Q1 profit and sales up as customers stockpiled supplies. M5J 2Y1 Moderate levels of regulatory reform are anticipated. To be read in conjunction with the "Forward-Looking Statements" section of this News Release and the Company's 2020 Annual Report to Shareholders. Full details about the conference call and webcast are available on the Loblaw Companies Limited website at loblaw.ca. The Company excludes additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The Company holds an analyst call shortly following the release of its quarterly results. Net earnings available to common shareholders of the Company were, Adjusted net earnings available to common shareholders of the Company, The Company repurchased, for cancellation, 5.5 million common shares at a cost of, Delivered Food Retail same-store sales growth, Delivered adjusted net earnings available to common shareholders of the Company, Delivered adjusted diluted net earnings per common share, Returned capital to shareholders by allocating a significant portion of the Company's Retail free cash flow of approximately. The Company's 2020 First Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw… Together, these two initiatives form part of the Company’s next generation digital health platform that will provide Canadians with a new, personalized healthcare experience by leveraging the power of Loblaw’s existing national healthcare network, extensive professional care services and world-class loyalty program to deliver a personalized healthcare solution for Canadians. Adjustment to fair value of investment properties, Change in allowance for credit card receivables, Cash assumed on initial consolidation of franchises, Lease payments received from finance leases, Cash rent paid on lease liabilities - Interest, Cash rent paid on lease liabilities - Principal, Dividends paid on common and preferred shares, Effect of foreign currency exchange rate changes on cash     and cash equivalents, Cash and cash equivalents, beginning of period. Certain figures have been restated to conform with current year presentation. When compared to the third quarter of 2019, this represented an increase of $1,016 million, or 6.9%. Loblaw Companies Ltd. saw sales surge by $751 million due to the COVID-19 pandemic, which prompted demand at grocery stores and pharmacies to skyrocket in the last two weeks of March. In 2020, management undertook a review of historical adjusting items as part of an effort to reduce the number of items it excludes from its non-GAAP financial measures. The playback will be made available approximately two hours after the event at (416) 849-0833 or (855) 859-2056, access code: 8866677. These calls are archived in the "Investors" section of the Company's website at loblaw.ca. For further information: Investor inquiries, contact: Roy MacDonald, Vice President, Investor Relations, (905) 861-2243, [email protected]; Media inquiries, contact: Kevin Groh, Senior Vice President, Corporate Affairs and Communication, (905) 861-2437, [email protected]. See “Forward-Looking Statements” section of this News Release and the Company’s 2020 Third Quarter Report to Shareholders for a discussion of material factors that could cause actual results to differ materially from the forecasts and projections herein and of the material factors and assumptions that were used when making these statements. The report includes the Company's audited financial … read. Forward-looking statements reflect the Company's estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. The Company can give no assurance that such estimates, beliefs and assumptions will prove to be correct. its core Retail business to grow earnings faster than sales; EPS growth in the low double digits, excluding the impact of the 53rd week; to return capital to shareholders by allocating a significant portion of free cash flow to share repurchases. Food Retail same-store sales continued at elevated levels, growing by 6.9% in the quarter, with the Company’s Market division delivering strong growth of 9.7% and the Discount division delivering 4.7% growth. Loblaw continued to make The Company invested approximately $85 million in COVID-19 related costs in the quarter primarily to ensure the safety and security of customers and colleagues. Management uses these and other non-GAAP financial measures to exclude the impact of certain expenses and income that must be recognized under GAAP when analyzing underlying consolidated and segment operating performance, as the excluded items are not necessarily reflective of the Company's underlying operating performance and make comparisons of underlying financial performance between periods difficult. As at the end of the third quarter of 2020, the Company’s ownership interest in Loblaw was 52.2%, 61.5% in Choice Properties and 100% in Weston Foods. to offer Canadians a choice of shopping in-store or online with either home delivery or convenient pickup locations. Numerous risks and uncertainties could cause the Company's actual results to differ materially from those expressed, implied or projected in the forward-looking statements, including those described in Section 12 "Enterprise Risks and Risk Management" of the MD&A in the 2020 Annual Report and Section 4 "Risks" of the Company's 2020 Annual Information Form (for the year ended January 2, 2021), which include detailed risks and disclosure regarding COVID-19 and its impact on the Company. Drug retail (Shoppers Drug Mart) same-store sales growth was 6.1%, with pharmacy same-store sales growth of 10.3% and front store same-store sales growth of 2.4%. Adjusted Net Earnings Available to Common Shareholders and Adjusted Diluted Net earnings per Common Share are presented below: (millions of Canadian dollars/Canadian dollars), Net Earnings Available to Common Shareholders of the Company, Net Earnings to Common Shareholders of the Company, Net Earnings Available toCommon Shareholders of the Company, Fixed asset and other   related impairments, net   of recoveries. The Company's e-commerce sales grew by 178%. The following table provides the approximate impact of the 53rd week on the Retail segment and consolidated results of the Company in the fourth quarter of 2020. Drug Retail same-store sales also experienced growth in the quarter, growing by 6.1%, with pharmacy delivering strong growth of 10.3% and front store sales growing by 2.4%. For reconciliation to, and description of, the Company's non-GAAP financial measures and financial metrics, please refer to Section 17 "Non-GAAP Financial Measures" of the Company's 2020 Annual Report. Connected Healthcare Network Over the long-term, Loblaw intends to leverage its unmatched network of pharmacies and healthcare professionals, building on an expanded scope of pharmacy practice and both on-site and virtual services to expand its presence in the $265 billion Canadian healthcare market. The Company’s investments in its Everyday Digital platforms enable it Name: Adjusted diluted net earnings per common share² were $1.30. © Loblaw Companies Ltd. Retail segment sales in the fourth quarter of 2020 were. 25, 2021 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the fourth quarter ended January 2, 2021 and the release of its 2020 Annual Report - Financial Review ("Annual Report"). The below summary is presented for informational purposes and reconciles the non-GAAP financial measures as previously reported in 2020 to those which will be reported under the new policy beginning in 2021: Adjusted Operating  income - previously   reported, Fixed asset and   other related   Impairments,   net of recoveries, Less: Amortization of   intangible assets  acquired with   Shoppers Drug Mart. BRAMPTON, ON, April 29, 2020 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the first quarter ended March 21, 2020.The Company's 2020 First Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw… Loblaw Companies last … In September, the Company made two important announcements in its strategic growth areas of Payments and Rewards and Connected Health. To access via tele-conference, please dial (647) 427-7450 or (888) 231-8191. By Aleksandra SaganThe Canadian Press. The exclusion of certain items does not imply that they are non-recurring. BRAMPTON, ON, Feb. 25, 2021 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the fourth quarter ended January 2, 2021 and the release of its 2020 Annual Report - Financial Review ("Annual Report"). Computershare Investor Services Inc. 100 University Avenue Toronto, Canada M5J 2Y1 1-800-564-6253. The Company has two reportable operating segments with all material operations carried out in Canada: For the periods ended January 2, 2021 and   December 28, 2019, Net interest expense and other  financing charges. Unless otherwise indicated, all financial information includes the impacts of the consolidation of franchises and COVID-19. Revenues reached $12.4 billion in the fourth quarter, up $818 million, or 7.1%, over the previous year. BRAMPTON, ON, Nov. 12, 2020 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the third quarter ended October 3, 2020. Process & Efficiencies and Data Driven Insights A culture of continuous improvement underpins an ambitious program that has delivered more than $1 billion in savings over the past three years. The Company’s ecommerce sales grew by 175% in the third quarter, across the Company's grocery, pharmacy, and apparel e-commerce platforms. 2020 included encouraging trends and increases in healthcare services, providing evidence of the longer-term potential of the investments the Company has been making. Adjusted net earnings available to common shareholders of the Company² were $464 million. Additional financial information has been filed electronically with various securities regulators in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR) and with the Office of the Superintendent of Financial Institutions (OSFI) as the primary regulator for the Company's subsidiary, President's Choice Bank. The increased … The shift from in-store to online is expected to be a headwind to profitability over the medium term. View which stocks have been most impacted by COVID-19. Other unusual items will be assessed on a case by case basis based on their nature, magnitude and propensity to re-occur. Annualized credit loss rate on average quarterly gross credit card receivables 3.4 % 3.4 % 2 2020 Annual Report -Financial Review Loblaw Companies Limited Management's Discussion and Analysis The Company's 2020 First Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw.ca and will be filed on SEDAR and available at sedar.com. Toll Free Fax 1-888-453-0330. The platform was expanded in the quarter to include front-store items from Shoppers Drug Mart and Pharmaprix pharmacies. — Loblaw Companies Ltd. raised its dividend as its third-quarter profit and sales climbed higher compared with a year ago and topped expectations. Please fill out the form below and click "Place Order" to complete your order. In the transition from year one to year two of the COVID-19 pandemic, Loblaw's core businesses remain strong. When compared to the third quarter of 2019, this represented an increase of $0.05, or 4.0%. Title: French - Loblaw Q1 2020 Quarterly Report Created Date: 20200541311 In this MD&A, “Consolidated” refers to the consolidated results of GWL including its subsidiaries, while “GWL Corporate” refers to the ² See Section 11 “Non-GAAP Financial Measures” of the Company’s 2020 Third Quarter Report to Shareholders, which includes the reconciliation of such non-GAAP measures to the most directly comparable GAAP measures. This News Release contains forward-looking statements about the Company's objectives, plans, goals, aspirations, strategies, financial condition, results of operations, cash flows, performance, prospects, opportunities and legal and regulatory matters. 1-800-564-6253, Toll Free Tel 1-800-564-6253 (Canada and US) The Company's 2020 Annual Report is available in the "Investors" section of the Company's website at loblaw.ca and on sedar.com. The Company's 2020 Third Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw… Costs are expected to improve, as the Company laps elevated COVID-19 related expenses, and as Process & Efficiencies and Data-Driven Insights programs continue to deliver benefits. The COVID-19 pandemic has accelerated certain longer-term trends, enabling the Company to advance its strategic growth areas of Everyday Digital, Connected Healthcare, and Payments and Rewards. This financial information does not contain all disclosures required by IFRS, and accordingly, should be read in conjunction with the Company's 2020 Annual Report, which is available in the Investors section of the Company's website at loblaw.ca and on sedar.com. When compared to the third quarter of 2019, this represented an increase of $11 million, or 3.3%. Specific forward-looking statements in this News Release include, but are not limited to, statements with respect to the Company's anticipated future results, events and plans, strategic initiatives and restructuring, regulatory changes including further healthcare reform, future liquidity, planned capital investments, and the status and impact of Information Technology systems implementations. Management concluded that, in order to present adjusting items in a manner more consistent with that of its Canadian and U.S. peers, the Company will no longer adjust for fixed asset and other related impairments (net of recoveries), certain restructuring and other related costs, pension settlement costs, statutory income tax rate changes or other items. The COVID-19 pandemic continued to have a significant impact on various aspects of our business in the fourth quarter. The increase in average article price was due to sales mix; and. Adjusted diluted net earnings per common share, Adjusted Diluted net earnings per common share, For the periods ended January 2, 2021 and, Eliminations include the reclassification of revenue related to President's Choice Financial, Effect of foreign currency exchange rate changes on cash. Loblaw continued to deliver value in the categories that mean most to consumers, maintaining conventional, drug and beauty market share improvements earned over the course of the pandemic, and improving its trajectory in discount. When compared to the third quarter of 2019, this represented a decrease of 50 bps. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's expectations only as of the date of this News Release. Following a very successful initial launch, Loblaw will continue the roll-out of the PC Money app in 2021. Canada Stocks Lose In 3 of the 4 Sessions This Week; S&P Report on E-Commerce and Retailers MT Newswires 10/16 16:12 ET Loblaw Companies Limited Announces the Timing of the Third Quarter 2020 Earnings Release In the four weeks following the end of the quarter, Food Retail same-store-sales growth remained elevated and Drug Retail same-store-sales growth slowed in front store while remaining consistent in pharmacy. Loblaw's strategy positions it well to capitalize on the accelerating pace of change in global food retail and wellness by focusing on three strategic growth initiatives: Everyday Digital Retail; Payments & Loyalty Rewards; and Connected Healthcare. The Company cannot predict the precise impacts of COVID-19 on 2021 financial results. BRAMPTON, ONTARIO November 12, 2020 Loblaw Companies Limited (TSX: L) (“Loblaw” or the “Company”) announced today its unaudited financial results for the third quarter ended October 3, 2020. $0.335 per common share, payable on April 1, 2021 to shareholders of record on March 15, 2021, $0.33125 per share, payable on March 31, 2021 to shareholders of record on March 15, 2021. BRAMPTON, Ont. Adjusted Diluted net earnings per common share(2) ($). In October 2020, the Company extended the maturity on its existing $1 billion revolving credit facility to October 2023. Reports on AnnualReports.com and sales climbed higher compared with a year ago and topped.! Retail segment sales in the `` Investors '' section of the consolidation of franchises, COVID-19 and 53rd..., 2019, this represented an increase of $ 6 million, or 1.3.! Offset normal inflationary headwinds, generating savings in excess of $ 350.... Topped expectations ( 2 ) ( $ ) most impacted by COVID-19 divided... 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