Most Recent Results (1Q19) [caption id="attachment_89177" align="aligncenter" width="534"] *From continuing operations
**Food retail[/caption]   Annual Financial Results [caption id="attachment_89178" align="aligncenter" width="720"] Fiscal year ends close to December 31.
* Trailing twelve months as of March 23, 2019
**Food retail[/caption]   Company Profile Loblaw Cos. Ltd. is a Canada-based retailer that operates under five divisions: Market, Drug, Discount, Financial and Joe Fresh. The Market division includes the grocery-focused store banners Loblaws, Provigo and Zehrs, and offers food, home and lifestyle products. The Drug division includes the Shoppers Drug Mart, MediSystem and Shoppers Home HealthCare brands, and provides pharmacy, health, beauty and grocery offerings. The Discount division includes the grocery banners No Frills, Real Canadian Superstore and Maxi. The company’s Financial division, PC Financial, provides a range of services, including daily banking, mortgages, credit, insurance and investments. Joe Fresh offers apparel in physical and online stores. As of December 31, 2018, the company operated 550 corporate stores, 535 franchise stores and 1,337 associate-owned drugstores. Strategy Loblaw’s strategic framework is driven by the company’s purpose: “Live Life Well.”

• The company says that it is committed to delivering industry-leading financial results through data-driven insights and process and efficiency excellence, while maintaining an intense focus on its customers.
• Its aim is to offer the “best in food” and the “best in health and beauty,” supported by everyday digital retail, a connected health care network and a single loyalty program called PC Optimum.
• The company’s approach to offering the “best in food” is driven by its fresh selection and a desire to offer sustainable and competitive pricing, customized assortments across banners, and several of Canada’s top control brands.
• Loblaw says that achieving the best in health and beauty requires putting pharmacy customers first, providing high-quality health and wellness products and services, and delivering a diverse and differentiated beauty offering.
• The company is also focused on continued growth in its President’s Choice Financial and Choice Properties segments.
• In 2017, the company’s Shoppers Drug Mart banner launched Wellwise.ca to offer online shopping for home health care products. Loblaw has also accelerated the growth of its online grocery service, partnered with Instacart to explore grocery home delivery in certain urban areas and expanded its product offerings across all of its digital platforms.

Revenue Breakdown (FY18) Recent Developments

Date	Development
May 1, 2019	1Q19 Results: Comp Growth Strengthens in Retail
Apr 3, 2019	The company announces the trial launch of a new service that leverages its PC Optimum loyalty program to provide customers with more relevant advertising and rewards.
Feb 25, 2019	Joe Fresh launches a spring 2019 advertising campaign under the tagline “Free Your Fresh”
Feb 21, 2019	Loblaw (TSX: L) 4Q18 Results: Revenues Miss Expectations as Food Demand Proves “Moderate” and Pharmacy Sales Remain Soft.
Dec 28, 2018	Loblaw enters into an automatic share purchase plan to facilitate repurchase of common shares under its previously announced normal course issuer bid.

Management Team

• Galen G. Weston, Chairman and CEO
• Darren Myers, CFO

Source: Company reports/S&P Capital IQ/Coresight Research

Sector Overview

• For context on this company, please refer to our report Sector Overview: North American Food Retail.