Canada's Loblaw Q1 revenue rises

Loblaw Companies

06/05/2026 11:42

Overview

Canada grocery and pharmacy retailer's Q1 revenue rose 4.2%

Adjusted EPS for Q1 matched analyst expectations

Company repurchased 10.2 mln shares and raised quarterly dividend by 10%

Outlook

Loblaw expects Retail business earnings to grow faster than sales in 2026

Company sees 2026 adjusted net earnings per share growth in the high single-digits

Loblaw plans about C$2.4 bln in gross capital expenditures in 2026

Result Drivers

FOOD RETAIL GROWTH - Same-store sales in Food Retail rose 2.4%, driven by increased customer traffic and basket size, and strong performance from discount banners

DRUG RETAIL MOMENTUM - Drug Retail same-store sales grew 4.1%, led by higher prescription volumes, specialty drugs, and beauty categories

E-COMMERCE EXPANSION - E-commerce sales rose 20.3%, supported by growth in PC Express delivery and integration of third-party delivery options

Company press release: ID:nGNX5RG3rj

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Meet
C$0.52
C$0.52 (8 Analysts)
Q1 EPS
C$0.50
Q1 Adjusted Net Income
Beat
C$609 mln
C$585.55 mln (2 Analysts)
Q1 Net Income
C$594 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the food retail & distribution peer group is "buy"

Wall Street's median 12-month price target for Loblaw Companies Ltd is C$70.00, about 10.8% above its May 5 closing price of C$63.16

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)