Canada’s Biggest Grocer Hits All-Time High Twice in One Week
- Loblaw shares closed 3.5% higher after quarterly earnings beat
- TD analyst expects Loblaw to outperform other Canadian peers
A shopper enters a Loblaw grocery store in Toronto, Ontario.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Loblaw Companies Ltd. set an all-time high for the second time this week as Canada’s biggest grocer rallied on a fourth-quarter earnings beat and expansion plans.
Shares ended the session up 3.5% to close at C$142.92 Thursday, the highest price for the stock since Loblaw began trading on the public markets in January 1983. The grocer earned an adjusted C$2.00 per share in its fourth quarter, surpassing analyst estimates by ten cents.