Loblaw Co. Ltd. (L.TO) Wednesday announced 34.2 percent increase in first quarter net income attributable to the shareholders to C$193 million from C$146 million in the prior year. Earnings per share increased 34.3 percent to C$0.47 from C$0.35 last year. On an adjusted basis, earnings attributable to the shareholders was C$338 million or C$0.82 per share.
On average, nine analysts polled by Thomson Reuters expected the company to earn C$0.82 per share. Analysts estimates usually exclude special items.
Revenue for the quarter increased 3.3 percent to C$10.381 billion form C$10.048 billion last year. Wall Street was looking for C$10.38 billion.
Looking ahead, the company expects positive same-store sales and to grow adjusted net earnings.
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