George Weston 1Q Profit, Revenue Rise

Dow Jones05-12

By Adriano Marchese

George Weston's first-quarter profit rose as its two main units, grocery giant Loblaw and real-estate trust Choice Properties REIT, delivered higher revenue.

The Toronto-based company, which houses Canadian grocer Loblaw and Choice Properties REIT, on Tuesday posted net income of 106 million Canadian dollars ($77.5 million), or C$0.27 a share, up from C$83 million, or C$0.21 a share, in the comparable quarter a year ago.

The increase was largely driven by lower amortization at Loblaw after certain intangible assets tied to its 2014 Shoppers Drug Mart acquisition became fully amortized, as well as a favorable fair-value adjustment of the trust unit liability, it said.

George Weston is the controlling shareholder of Loblaw, one of Canada's biggest supermarket chains, and owns Choice Properties REIT, a retail-focused real-estate trust.

Adjusted earnings were C$0.91 a share, missing analyst forecasts of C$0.98 a share, according to a poll on FactSet.

Revenue rose 4.2% to C$14.64 billion. Analysts expected C$14.65 billion.

The company's ownership in Loblaw generated C$14.48 billion in revenue, up from C$13.9 billion a year earlier, while Choice Properties saw a rise in revenue to C$361 million from C$347 million.

For the full year, the company has maintained its outlook for adjusted net earnings to increase in the high single-digits percentage, while its retail business is expected to grow earnings faster than sales.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 12, 2026 07:32 ET (11:32 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Analysts expected C$1","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MMAT":"Meta Materials Inc."},"translate_title":"乔治韦斯顿第一季度利润、收入增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MMAT":1.5},"content_text":"By Adriano Marchese \n\n\n \n\n\n  George Weston's first-quarter profit rose as its two main units, grocery giant Loblaw and real-estate trust Choice Properties REIT, delivered higher revenue. \n\n\n  The Toronto-based company, which houses Canadian grocer Loblaw and Choice Properties REIT, on Tuesday posted net income of 106 million Canadian dollars ($77.5 million), or C$0.27 a share, up from C$83 million, or C$0.21 a share, in the comparable quarter a year ago. \n\n\n  The increase was largely driven by lower amortization at Loblaw after certain intangible assets tied to its 2014 Shoppers Drug Mart acquisition became fully amortized, as well as a favorable fair-value adjustment of the trust unit liability, it said. \n\n\n  George Weston is the controlling shareholder of Loblaw, one of Canada's biggest supermarket chains, and owns Choice Properties REIT, a retail-focused real-estate trust. \n\n\n  Adjusted earnings were C$0.91 a share, missing analyst forecasts of C$0.98 a share, according to a poll on FactSet. \n\n\n  Revenue rose 4.2% to C$14.64 billion. Analysts expected C$14.65 billion. \n\n\n  The company's ownership in Loblaw generated C$14.48 billion in revenue, up from C$13.9 billion a year earlier, while Choice Properties saw a rise in revenue to C$361 million from C$347 million. \n\n\n  For the full year, the company has maintained its outlook for adjusted net earnings to increase in the high single-digits percentage, while its retail business is expected to grow earnings faster than sales. \n\n\n \n\n\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 12, 2026 07:32 ET (11:32 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2634215434","isCrawlerRequest":true}