Brampton, ON-
By ANUK Staff
2.22.13
Loblaw Companies Limited has released unaudited financial results for the fourth quarter 2012 as well as the release of its 2012 Annual Report.
Highlights include a 1.2% increase in revenue from $7,373 million in the fourth quarter of 2011 to $7,465 million. Additionally, retail sales grew by .9% while same-store sales remained flat.
Galen Weston, Executive Chairman said, "2012 was a pivotal year for Loblaw - improving the customer proposition, driving the infrastructure program, and reducing costs. Despite challenges during the year, the team delivered on plan. Good performance metrics in the last quarter of 2012 and through the beginning of 2013 indicate that management's strategy is taking hold."
He concluded, "Looking forward, I am confident that our customer offer is improving steadily, the team is driving efficiencies appropriately, and has a disciplined approach to growth. This combination will further strengthen our business and build long term value for shareholders."
