The following is a summary of the Loblaw Companies Limited (LBLCF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Loblaw reported full-year revenue of just under $60 billion with earnings over $2 billion.

• Their Q4 revenue increased by 3.7%, with adjusted diluted net earnings per share growing by 13.6% to $2 per share.

• The company's Q4 consolidated adjusted EBITDA margin increased by 50 basis points year-over-year to 11.2%.

• The revenue for PC Financial under Loblaw grew by 16.8% due to growth in the credit card portfolio, customer spending, and higher mobile shop sales.

• Retail free cash flow in Q4 amounted to $512 million and totaled $1.7 billion for the full-year.

Business Progress:

• Focused on retail excellence, growth, and future investment, Loblaw opened 31 hard discount Maxi and No Frill stores last year and plan to open more than 40 next year based on customer value-seeking behavior.

• Over 140 new pharmacy clinics are planned for the forthcoming year with 2.4 million prescribing services provided last year already.

• A personalization platform is under development to enhance customer experience. ESG initiatives are a priority for Loblaw, evidenced by their aim to make their plastic packaging recyclable or reusable by 2025 and reach zero food waste to landfill by 2030.

• The Freight-as-a-Service and clinics are progressing well, contributing to business growth. They also plan to return most of their strong retail free cash flow to shareholders through dividends and share buybacks in 2024.

More details: LOBLAWS COMPANIES LIMITED IR

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