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An article was changed on the original website An article was changed on the original website

Loblaw Companies Ltd. reports Q4 profit up from year ago, revenue edges higher

BRAMPTON, Ont. - Loblaw Companies Ltd. reported its fourth-quarter profit improved compared with a year ago when it was hit by restructuring and other one-time charges.

The retailer says it earned a profit of $221 million attributable to common shareholders or 59 cents per share for the quarter ended Dec. 29.

A man leaves a Loblaws store in Toronto on Thursday, May 3, 2018. Loblaw Companies Ltd. reported its fourth-quarter profit improved compared with a year ago when it was hit by restructuring and other one-time charges.
A man leaves a Loblaws store in Toronto on Thursday, May 3, 2018. Loblaw Companies Ltd. reported its fourth-quarter profit improved compared with a year ago when it was hit by restructuring and other one-time charges.  (Nathan Denette / THE CANADIAN PRESS)

That compared with a profit of $31 million or eight cents per share in the same quarter a year earlier.

Revenue totalled $11.22 billion, up from $10.99 billion.

On an adjusted basis, Loblaw says it earned $1.03 per diluted share from continuing operations, up from $1.02 per diluted share in the final quarter of 2017.

Loblaw says the results included a decline in its financial services business, offset by an improvement in underlying performance of its retail operations and the favourable impact of the repurchase of common shares.

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