Loblaw Companies Reports Steady Q4 Performance

Grocery giant highlights store expansion, digital growth, and supply chain automation in earnings call

Mar. 3, 2026 at 12:31am by Ben Kaplan

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Loblaw Companies, one of Canada's largest grocery and pharmacy retailers, reported steady operating performance, continued store expansion, and growing digital sales during its fourth-quarter and full-year 2025 earnings call. Management also discussed the planned sale of PC Financial to EQ Bank and provided expectations for 2026, including high single-digit adjusted EPS growth.

Why it matters

Loblaw's results provide insights into the state of the Canadian retail market, consumer spending trends, and the company's strategic initiatives around store growth, digital transformation, and supply chain optimization. As a major player in the grocery and pharmacy sectors, Loblaw's performance is a bellwether for the broader industry.

The details

In the fourth quarter, Loblaw reported revenue growth of 3.5% to CAD 15.5 billion and a 4.8% increase in adjusted EBITDA to CAD 1.8 billion. The company cited new store openings, a focus on value and convenience, and strong digital sales as key drivers. For the full year, Loblaw saw consolidated revenue growth of 4.4% to CAD 63.7 billion and a 10.7% increase in EPS. The company continued expanding its hard discount banners, opened 250 in-store healthcare clinics, and saw online sales exceed CAD 4.5 billion. Loblaw also discussed progress on supply chain automation and partnerships with AI providers to enhance customer experience and internal operations.

  • Loblaw reported its fourth-quarter and full-year 2025 results on March 1, 2026.
  • The company plans to close the sale of PC Financial to EQ Bank later in 2026.

The players

Loblaw Companies

One of Canada's largest grocery, pharmacy, and general merchandise retailers, operating major banners like Loblaw, No Frills, Maxi, and Shoppers Drug Mart.

Richard Dufresne

Chief Financial Officer of Loblaw Companies.

Per Bank

Chief Executive Officer of Loblaw Companies.

Roy MacDonald

Vice President of Investor Relations at Loblaw Companies.

EQ Bank

A Canadian digital bank that is acquiring Loblaw's PC Financial business.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.