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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.
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.
