Canadian food retail stocks mixed after Walmart results

George Weston

17/05/2022 17:32

** Walmart  WMT.N  reports https://s2.q4cdn.com/056532643/files/doc_financials/2023/q1/Earnings-Presentation-(FY23-Q1).pdf
 7.7% increase in Q1 comparable sales in Canada, while gross
profit rate decreased due to higher import and logistic costs
 urn:newsml:reuters.com:*:nL3N2X927U
    ** WMT comparable sales growth is higher than the
low-single-digit percentage reported by Canadian rivals Loblaw
 L.TO  and Metro  MRU.TO  - Desjardins analyst Chris Li
    ** "While it is too early to tell, this could suggest some
market share shifts" - Desjardins
    ** Loblaw and Metro down 1% each
    ** Empire  EMPa.TO , Dollarama  DOL.TO  and Alimentation
Couche-Tard  ATDb.TO  down less than 1%, while Canadian Tire
 CTCa.TO  and George Weston  WN.TO  up marginally
    ** Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  up 1%  urn:newsml:reuters.com:*:nL3N2X92SE

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com))