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Loblaw Q4 Results Beat View

Loblaw Companies Limited (L.TO) reported that its fourth quarter net earnings available to common shareholders of the company climbed to C$744 million from C$345 million in the prior year. Net earnings per share were C$2.20 up from C$0.98 last year.

Adjusted earnings per share were C$1.52 compared to C$1.22 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of C$1.36 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the fourth quarter declined to C$12.76 billion from C$13.29 billion in the prior year. Analysts expected revenues of C$12.64 billion for the fourth quarter.

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