Q2 2026 Loblaw Companies Ltd Earnings Call Transcript

Jul 30, 2026 / 02:00 PM GMT

Release Date Price: €40.6 (-0.49%)

Transcript

Key Points

Positve

Strong financial performance with revenue up 4.1% and adjusted diluted EPS growth of 11.9%.
Hard discount banners (Maxi and No Frills) delivered comparable sales close to 4%, gaining market share.
Pharmacy and healthcare services saw strong same-store sales growth of 7.5%, driven by specialty and chronic prescriptions.
E-commerce sales grew 19.3%, with PC Express delivery increasing over 40%.
Increased share buyback plan to $2.1 billion, reflecting strong free cash flow and balance sheet.

Negative

Food retail same-store sales growth was modest at 1.6%, with a 20 basis point drag from the right-hand side.
Conventional banner same-store sales faced headwinds from a strong prior-year comparison and tariff impacts.
Ramp-up costs for new automated distribution centers and new store openings pressured SG&A.
Timing of the PC Financial sale will result in only one month of EQB earnings recognized in Q3, creating a headwind.
Uncertainty around fuel costs and potential supplier cost increases due to geopolitical tensions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

L.TO - Loblaw Companies Ltd
Q2 2026 Loblaw Companies Ltd Earnings Call
Jul 30, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to 6 quarter results conference call.

At this time, all lines are in listen-only mode.

Following the presentation, we will conduct a question-and-answer session.

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Please note this call is being recorded on Thursday, July 30th, 2026.

I would now like to turn the conference over to Roy McDonald, Vice President, Investor Relations.

Please go ahead.

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