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Loblaw Companies (L) investor relations material
Loblaw Companies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Consolidated revenue grew 4.6% year-over-year to CAD 19.4 billion, driven by new store openings, value offerings, and strong retail performance.
Adjusted EBITDA rose 7.2% to CAD 2.2 billion, with margin improvement of 20 basis points to 11.4%.
Adjusted diluted EPS increased 11.3% to CAD 0.69; GAAP EPS up 4.8%.
E-commerce sales rose 18% year-over-year across retail businesses.
Opened 76 stores in the past 12 months, expanding retail square footage by 2%.
Financial highlights
Food retail sales grew 4.8% to $13,588 million; same-store sales up 2%.
Drug retail sales increased 3.8% to $5,494 million; same-store sales up 4%.
Retail gross margin improved by 20 basis points to 31.1%.
Free cash flow from retail segment was $325 million; net capital expenditures totaled $622 million.
Return on equity at 24.8%, return on capital at 11.9%.
Outlook and guidance
Full-year adjusted EPS growth now forecast to be in the low double digits, excluding the 53rd week.
Continued investment in new stores, automation, and digital initiatives to support long-term growth.
Net capital investments for the year projected at $1.9 billion.
Significant portion of free cash flow to be allocated to share repurchases.
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