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Loblaw Cos. Ltd. reported its third-quarter profit and revenue rose compared with a year ago.
The parent company of Loblaws and Shoppers Drug Mart reported a profit available to common shareholders of $621 million or $1.95 per diluted share for the 16-week period ended Oct. 7.
The result compared with a profit of $556 million or $1.69 per diluted share in the same quarter a year earlier.
Revenue for the quarter totalled $18.27 billion, up from $17.39 billion in the same quarter last year.
The increase came as food retail same-stores sales rose 4.5 per cent and drug retail same-store sales gained 4.6 per cent, helped by front store same-store sales growth of 1.8 per cent and pharmacy same-store sales growth of 7.4 per cent.
On an adjusted basis, Loblaw says it earned $2.26 per diluted share, up from an adjusted profit of $2.01 per diluted share a year earlier.
Meanwhile. Metro Inc. reported a fourth-quarter profit of $222.2 million, up from $168.7 million in the same quarter last year as its sales rose 14 per cent.
The grocer says the profit amounted to 96 cents per diluted share for the 13-week period ended Sept. 30, up from 70 cents per diluted share a year earlier when the quarter included 12 weeks.
Metro says a five-week strike at 27 stores in the Greater Toronto Area during the quarter had a negative impact on its bottom line of about $27 million after taxes or 12 cents per share, while the extra week in the period had a favourable impact of $27 million net of tax or 12 cents per share.
Sales in the quarter totalled $5.07 billion, up from $4.43 billion a year earlier.
The increase came as food same-store sales rose 6.8 per cent and pharmacy same-store sales gained 5.5 per cent.
On an adjusted basis, Metro says it earned 99 cents per share in its latest quarter, up from an adjusted profit of 92 cents per diluted share a year earlier.
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