Headquartered in Brampton, Ontario, Loblaws is one of the big players in the grocery retail industry in Canada with annual revenue of $53,170 million in 2021.


Second Quarter Financial Highlights

  • Sales in the retail sector increased by $341 million or 2.8% to $12,623 million
  • E-commerce sales fell by 17.5%, trailing last year's higher online sales because of lockdowns
  • Adjusted EBITDA increased by $128 million or 9.3% to $1,499 million
  • The adjusted gross profit margin for the retail sector was 31.4%, up 50 basis points

Source: Loblaw Reports 2022 Second Quarter Results


Second Quarter YoY Financial Comparison

  • Total company sales were CAD 12.8 billion in the second quarter of 2022, compared to CAD 12.4 billion for the same period last year
  • The operating expense ratio marginally increased from 94.0% in the second quarter of 2021 to 94.2% in the same period this year
  • The operating profit ratio slightly reduced from 6.0% in Q2 2021 to 5.8% for the same period this year
  • The net earnings ratio (attributable to shareholders of the company) remained the same - 3.0% - for Q2 during both 2021 and 2022

Source:  Financial reporting | Loblaw Companies Limited


Additional Key Highlights

  • Through a partnership with DoorDash, PC ExpressTM Rapid Delivery was introduced to provide customers with access to groceries and convenience goods in an estimated express delivery time of thirty minutes or less
  • The company acquired the common shares of Lifemark Health Group (“Lifemark”) on May 10, 2022, which is a total purchase of $832 million
  • This acquisition strengthens the company's expanding position as a healthcare service provider with a network of in-person and online accessible health and wellness solutions
  • The second quarter of 2022 saw $302 million in capital investments, up $44 million or 17.1% from the second quarter of 2021
  • In Q2 2022,  the Company renewed its Normal Course Issuer Bid (NCIB) to enable the purchase of the Toronto Stock Exchange

Source: Loblaw Reports 2022 Second Quarter Results

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