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Company News

BRIEF-Loblaw Qtrly Diluted Net Earnings Per Common Share $0.05

Feb 22 (Reuters) - Loblaw Companies Ltd:

* LOBLAW REPORTS 2017 FOURTH QUARTER AND FISCAL YEAR ENDED DECEMBER 30, 2017 RESULTS(1)

* Q4 REVENUE FELL 0.9 PERCENT TO C$11.03 BILLION

* QTRLY DILUTED NET EARNINGS PER COMMON SHARE WERE $0.05

* QTRLY FOOD RETAIL (LOBLAW) SAME-STORE SALES GROWTH WAS 0.5 PERCENT, EXCLUDING GAS BAR OPERATIONS

* QTRLY ADJUSTED DILUTED NET EARNINGS PER COMMON SHARE WERE $1.13

* Q4 EARNINGS PER SHARE VIEW C$1.11, REVENUE VIEW C$11.03 BILLION -- THOMSON REUTERS I/B/E/S

* QTRLY DRUG RETAIL (SHOPPERS DRUG MART) SAME-STORE SALES GROWTH WAS 3.6 PERCENT

* QTRLY RETAIL SEGMENT SALES WERE $10,718 MILLION, A DECREASE OF $127 MILLION, OR 1.2 PERCENT

* LOBLAW - IN 2018, ON A FY COMPARATIVE BASIS, EXPECTS TO DELIVER POSITIVE SAME-STORE SALES & STABLE GROSS MARGIN IN RETAIL SEGMENT

* DISPOSITION OF CO’S GAS BAR OPERATIONS NEGATIVELY IMPACTED QTRLY DILUTED NET EPS GROWTH BY ABOUT $0.03 PER COMMON SHARE

* LOBLAW - IN 2018, ON FY COMPARATIVE BASIS, EXPECTS TO DELIVER ESSENTIALLY FLAT ADJUSTED NET EARNINGS GROWTH WITH POSITIVE ADJUSTED EPS GROWTH

* LOBLAW - IN 2018, ON FULL-YEAR COMPARATIVE BASIS, EXPECTS TO INVEST ABOUT $1.3 BILLION IN CAPITAL EXPENDITURES, INCLUDING $1.0 BILLION IN RETAIL SEGMENT

* HEADWINDS FROM MINIMUM WAGE INCREASES AND HEALTHCARE REFORM WILL NEGATIVELY IMPACT COMPANY’S FINANCIAL PERFORMANCE IN 2018

* NOW EXPECTS THAT ANNOUNCED HEALTHCARE REFORM WILL HAVE ADDITIONAL IMPACT OF ABOUT $250 MILLION ON OPERATING INCOME FOR 2018

* LOBLAW - EXPECTS ESTIMATED ANNUAL IMPACT IN 2018 OF NEW & CURRENT CONSOLIDATED FRANCHISES TO BE REVENUE OF ABOUT $1,000 MILLION, ADJUSTED EBITDA OF ABOUT $100 MILLION

* $123 MILLION WAS RECORDED IN Q4 RELATED TO RESTRUCTURING PLAN THAT RESULTED IN CLOSURE OF 22 UNPROFITABLE RETAIL LOCATIONS IN QUARTER Source text for Eikon: Further company coverage:

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