Roots tops expectations

Photo: The Canadian Press

Retailer Roots Corp. topped expectations as it reported a profit of $20.8 million in its latest quarter, up from $17.2 million in the same quarter a year earlier.

The company says the profit amounted to 50 cents per share for the quarter ended Feb. 3 compared with 41 cents per share a year ago.

Sales in what was the retailer's fourth quarter totalled $130.0 million, up from $111.2 million in the same quarter a year earlier.

Same-store sales growth was 15.1 per cent.

On an adjusted basis, Roots says it earned 59 cents per share in the quarter, up from 48 cents per share a year ago.

Analysts on average had expected an adjusted profit of 53 cents per share and revenue of $124.4 million, according to Thomson Reuters.