Loblaw Fourth-Quarter Earnings Preview

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Overview:

Loblaw Cos. is set to release its fourth-quarter earnings report soon. Here’s a breakdown of what to expect:

Revenue:

Analysts are predicting a revenue increase to 14.53 billion Canadian dollars, equivalent to $10.74 billion, up from C$14.01 billion in the previous year.

Adjusted Earnings:

On an adjusted basis, analysts are expecting earnings per share to rise to C$1.90.

Performance:

In the fourth quarter, Loblaw’s stock saw an almost 11% increase and is currently trading slightly down at C$138.71.

Key Points to Watch For:

Food Inflation:

Investors are eager to see the impact of food inflation on demand and earnings. National Bank of Canada analyst Vishal Shreedhar estimates a 4.9% food store inflation rate compared to 7.2% in the previous quarter. There’s an expectation for further moderation as input prices decline.

Promotional Penetration:

Considering the significant impact of inflation on food costs in Canada, investors will be interested in understanding shoppers’ spending patterns and how Loblaw’s discount labels have performed during this period.

Grocery Industry Code of Conduct:

The proposed Grocery Industry Code of Conduct aims to promote fairness and transparency in the sector, although Shreedhar believes it won’t significantly impact stabilizing food prices.

Stay tuned for Loblaw’s fourth-quarter results to gain more insights into the company’s performance and market dynamics.

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