As it released its financial results for the first quarter of 2018 this week, Loblaw also unveiled plans for a nationwide online grocery and home delivery rollout.
Loblaw currently offers home delivery in 11 Canadian markets, including Calgary, Toronto and Vancouver, and has around 200 PC Express pick-up sites up and running. Home delivery will be expanded this year into five new major markets. including Halifax, Montreal and Regina. Loblaw also plans to add 500 new PC Express pickup sites, bringing the total to more than 700. By the end of 2018, Loblaw says 70 per cent of Canadians will have access to both home delivery and pickup.
Financial highlights for Q1 2018:
- Loblaw posted revenue of $10.37 B, a decline of $37 M (0.4 per cent) over the same quarter last year.
- Retail segment sales were down $61 M (0.6 per cent) to $10,105 million compared to Q1 2017.
- Food retail (Loblaw) same-store sales growth was 1.9 per cent, excluding gas bar operations.
- Drug retail (Shoppers Drug Mart) same-store sales growth was 3.7 per cent, with pharmacy same-store sales growth of 3.5 per cent and front store same-store sales growth of 3.8 per cent.
Read the full announcement here.
Read more here: Loblaws plans to 'blanket the country' with online grocery services this year.