Loblaw Companies, the parent company of 22 Canadian supermarket banners, released its Q3 results for fiscal year 2021, highlighted by the expansion of the company’s President’s Choice private brand, which launched 10 new plant-based products.
“In the third quarter, our focus on core retail execution and an enthusiastic consumer response drove another quarter of strong financial results,” said Galen G. Weston, president and chairman of Loblaw Companies. “As the country emerges from pandemic-related lockdown, our portfolio of supermarkets and drug stores positions us well to meet the evolving needs of Canadians.”
The success for the company continues, as Loblaw Companies posted strong results in Q1 of this year. Revenue in Q3 was $16 billion, representing an increase of $379 million, or 2.4% when compared to the third quarter of 2020. Retail segment sales were $15.8 billion, an increase of $367 million, or 2.4% when compared to the third quarter of 2020.
Loblaw’s e-commerce sales decreased by 0.4% due to the lapping of high e-commerce sales in the third quarter of 2020. The retail segment’s adjusted gross profit percentage was 30.7%. This represented an increase of 140 basis points compared to the third quarter of 2020.
“Loblaw experienced strong demand in stores and online, as economies re-opened and eat-at-home trends remained elevated,” said the company. “Seasonal shopping for back-to-school and Thanksgiving was robust, demonstrating an enthusiastic return to certain pre-pandemic routines. This was also evident in our Pharmacy businesses. Beauty sales climbed with the gradual return to social and work activities. In addition, drug sales grew, supported by demand for pharmacy services, including patient health consultations, vaccination administration and testing.”
Following the strong quarter results, Loblaw Companies is preparing for the holiday season by launching new products for its President’s Choice brand. The PC Insiders Report is the company’s guide to the holidays, and can be found online and in print.
Aimed at providing the unique and fun options for holiday gatherings, the new items from the private label brand include Kimchi Hummus, Halloom Cheese Sticks in Za’Atar Herbed Batter, Butter Infused Stuffed Turkey Crown, Kalbi Beef Short Ribs, Hot Chocolate Bombs, Egg Nog Ice Cream and Chocolate Caramel Pecan Cluster New York-Style Cheesecake.
“The holidays are a time for friends, family and food," says Kathlyne Ross, vice president of product development and innovation at Loblaw Companies Limited. "With so many of us looking forward to the return of our favourite traditions, we thought we would bring back one of our own with limited edition copies of the PC Insiders ReportTM holiday edition. Spanning more than 100 new PC products this season, from innovative appetizers and simple solutions for your family feast, to ready-to-serve desserts, we’ve got you covered for however you plan to celebrate this year.”
PC products are available at Loblaw banner stores across Canada, including Loblaws, No Frills, Real Canadian Superstore, Shoppers Drug Mart and Zehrs.