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Loblaw Companies Ltd Comments On FY 2013 Revenue Guidance; Reaffirms FY 2013 EBIT Guidance

Wednesday, 1 May 2013 06:30am EDT 

Loblaw Companies Ltd announced that for fiscal 2013, it expects sales growth to be moderated by a competitive environment characterized by ongoing square footage expansions, a new competitor's entry into the market and generic drug deflation. As a result, the Company continues to expect modest growth in operating income (EBIT) in fiscal 2013, excluding the impact of the $61 million restructuring charge recorded in the fourth quarter of 2012, the impact of the previously announced plan to launch an IPO of a new REIT and the $51 million gain recorded in the first quarter associated with amendments to certain defined benefit plans. The Company reported revenue of $31.604 billion and EBIT of $1.257 billion for fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $32.198 billion for fiscal 2013. 

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15 Sep 2014