DOCSLIB.ORG

2020 Annual Report $2.8 Billion

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

2020 Annual Report $2.8 billion REVENUE FROM ONLINE SOURCES, AS WE SCALED E-COMMERCE, PROVIDING CUSTOMERS MORE FLEXIBILITY AND CHOICE THAN EVER BEFORE 25,026 TEMPORARY WORKERS HIRED AT THE PEAK OF THE PANDEMIC TO SUPPORT OUR STORES, COLLEAGUES AND CUSTOMERS 7,250 TEMPORARY WORKERS OFFERED PERMANENT EMPLOYMENT ONCE THE FIRST WAVE SUBSIDED 4,000 NUMBER OF PRODUCTS AVAILABLE AT SHOPPERSDRUGMART.CA, INCLUDING BEST SELLERS IN ELECTRONICS, BABY AND CHILD, HOME GOODS, OVER-THE-COUNTER AND EVERYDAY ESSENTIALS $445 million 2020 INVESTMENTS IN COVID- RELATED ADJUSTMENTS AND SAFETY MEASURES 2 million + FLU SHOTS ADMINISTERED IN OUR PHARMACIES IN 2020 285,000 NUMBER OF HOURS OUR STORES OPENED EXCLUSIVELY FOR SENIORS AND HEALTHCARE WORKERS A passion for customers fully ignited As a nation, and as an organization, 2020 was among the most stressful and anxious years in our history. Throughout this uncertainty, you – our colleagues – were there. As the country learned to deal with change, you brought comfort. As your friends and neighbours sought to meet their most fundamental of needs – for good food and good health – you opened your stores and your hearts to them. You truly helped Canadians Live Life Well®, and you can hold your heads high knowing that you helped a nation move forward. From the bottom of our hearts: thank you. Table of Contents 2 Our Stores, Our Colleagues, Our Strategy 4 Financial Highlights 5 Chairman’s Message 8 Our Divisions 10 Strategic Enablers 12 Corporate Social Responsibility 14 Corporate Governance Practices 16 Board of Directors 16 Leadership 17 Financial Review 2020 ANNUAL REPORT 1 LOBLAW COMPANIES LIMITED Our Stores Our Colleagues Our Strategy From the ground up, we exist to help Canadians Live Life Well.® This commitment factors into how we operate our stores and pharmacies day-to-day, and how we deliver on our long-term organizational strategy – known internally as the Strategic Compass. At the heart of our Strategic Compass is a passion for customers and the constant pursuit of true customer-centricity. This passion comes to life through our five operating divisions – Discount, Market, Shoppers Drug Mart®, PC Financial® and Joe Fresh® – and guides our three strategic priorities of Everyday Digital Retail, Connected Healthcare Network and Payments & Rewards. Delivering on these priorities requires outstanding talent and stable financial results, achieved through data-driven insights, process and efficiency excellence, and a commitment to being the best in food, health and beauty. All of our decisions are guided by a shared set of CORE values and culture principles, and a commitment to social responsibility and compliance. 62% Everyday Digital Retail Process and Efficiency Excellence NUMBER OF PC FINANCIAL® CUSTOMERS USING THE DIGITAL We are an omni-channel retailer. We take Our ambitious strategy calls for investment PLATFORM OR MOBILE APP great pride in operating many of the in areas that matter most to our IN 2020 country’s top store banners while providing customers, and doing so requires the Canadians with a best-in-class digital adoption of more efficient processes and experience that they’ve come to expect. a continuous improvement mindset. Payments & Rewards Data-Driven Insights Driven by the data from millions of Our rich data-set offers us unique insights weekly customer interactions, we into the needs and expectations of our deliver personalized offers, financial customers, and through continuous services and rewards to our customers. improvement, our focus is on seeing, knowing and acting on their behalf better Connected Healthcare Network than anyone else. We offer Canadians a seamless omni- channel health experience and strive to be Best in Food, Health and Beauty the front door to healthcare in the country, We offer a variety of grocery options to meet both in person through our network of more all tastes and budgets, operate the country’s than 1,800 pharmacies, or online through industry-leading pharmacy network, provide PC Health. access to over 5,000 health and wellness professionals, and remain a top beauty destination for Canadians. 2 2020 ANNUAL REPORT LOBLAW COMPANIES LIMITED PC Express™ Steps Up In early December, a devastating fire destroyed the only grocery store in Introducing the the village of Apsley, Ontario, in the township of North Kawartha. The PC Health App nearest grocery store is about 50 kilometres away, leaving the village The PC Health app provides without a reliable source of food. Canadians with a wide range PC Express™ stepped-up, mobilizing of core features to help them to deliver 80 grocery orders per day navigate their health journey – from the nearest Real Canadian including real-time access to Superstore in Peterborough. For more, healthcare practitioners, health visit loblaw.ca. and wellness programs, a curated selection of products and services, and more. The goal is simple: empower Canadians to better manage “ We wanted to make it easy their health and wellbeing, all for them, especially since while making it more accessible, many in the community more convenient, and more have never shopped for personalized. For more, visit groceries online. A small loblaw.ca. group of developers, designers and project managers worked on “ Shoppers Drug Mart® strives to be the front door building a custom Apsley for healthcare, bringing together thousands of page to simplify the trusted healthcare professionals, with a strong experience for them.” network of pharmacy locations and support for LAUREN STEINBERG, SENIOR Canadians online through the PC Health app.” VICE PRESIDENT, LOBLAW DIGITAL JEFF LEGER, PRESIDENT, SHOPPERS DRUG MART 2020 ANNUAL REPORT 3 LOBLAW COMPANIES LIMITED Financial Highlights + 8.6% + 4.9% + 4.5% + 5.3% FOOD RETAIL DRUG RETAIL FRONT OF STORE PHARMACY SAME STORE SALES SAME STORE SALES + 9.7% 29.5% + 2.6% 9.6% REVENUE2 ADJUSTED RETAIL CONSOLIDATED CONSOLIDATED ADJUSTED ($ millions) SEGMENT GROSS PROFIT ADJUSTED EBITDA1,2 EBITDA MARGIN1,2 MARGIN1,2 ($ millions) 2018 2019 2020 2018 2019 2020 2018 2019 2020 2018 2019 2020 46,693 48,037 52,714 29.4% 29.7% 29.5% 3,528 4,912 5,041 7.6% 10.2% 9.6% + 3.4% + 3.2% ADJUSTED DILUTED NET DIVIDEND DECLARED EARNINGS PER COMMON PER COMMON SHARE SHARE1,2 ($) ($) 1 See the Non-GAAP Financial Measures section of the 2020 Annual Report – Financial Review 2 Including the impact of the 53rd week 2018 2019 2020 2018 2019 2020 4.06 4.12 4.26 1.155 1.24 1.28 4 2020 ANNUAL REPORT LOBLAW COMPANIES LIMITED Chairman’s Message It was a year like no other, with many challenging and shifting dynamics. Our businesses, our colleagues, and our communities were all impacted. But, we adjusted. Our focus on safety, thoughtful investments, and our purpose – helping Canadians Live Life Well® – allowed us to emerge with a stronger core business and the strategic momentum that will create value over the long term. Fellow shareholders, These investments were the right thing to do, and as a result, our colleague engagement 2020 was a remarkable year that tested the and customer satisfaction scores have never resilience of our colleagues, the capacity been higher. of our stores and supply chain, and our conviction in our strategy. In the end, all Now, although the pandemic continues, held strong as we pursued our purpose we are operating with greater confidence. to help Canadians Live Life Well® amid the We finished the year having held on to most extraordinary of circumstances. market share gains in conventional grocery, drug and beauty, and saw improving trends Managing Through Uncertainty in discount. Stable Winning has been at the centre of our strategic framework since well before For all of 2020, we achieved same store 2020, but COVID-19 shook that concept sales growth of +4.9% in drug retail and to its core with volumes swinging from one +8.6% in food retail, with revenue of extreme to another across categories and $52.7 billion, growing +9.7%. Consolidated formats as the impact of the pandemic adjusted EBITDA was $5.0 billion, or +2.6%. evolved at a dizzying pace. From initial Adjusted diluted net earnings per share stockpiling, to the ebb and flow of lock- were $4.26 or +3.4%. We generated over down restrictions, our teams were called $2.247M in free cash flow, and continued to Galen G. Weston Executive Chairman upon to adapt and respond to changing return capital to shareholders by increasing circumstances on a nearly hourly basis. our dividend 3.2% and repurchasing 13.3 million shares under a common share Early on, we made a series of decisions. repurchase program. We chose to focus on the health and safety of our customers and colleagues above all else, spending an average of $76 million per quarter in the process. We chose to keep prices low for Canadians when they needed it most. And, where it made sense, we accelerated our strategic initiatives. 2020 ANNUAL REPORT 5 LOBLAW COMPANIES LIMITED Chairman’s Message As we look toward the future, we are well positioned. Our core business is fundamentally healthy, our strategy is working, our investments are starting to bear fruit, and we’re gaining momentum. Ready for What’s Next Our Connected Healthcare Network As we look towards the future, we are well strategy also gained traction in 2020. positioned. Our core business is fundamen- More than ever, Canadians are turning to tally healthy, our strategy is working, our new ways of accessing healthcare, and investments are starting to bear fruit, and we’re shifting their mindset around our we’re gaining momentum. enterprise’s total health offering. We want Canadians to rely on us to deliver a seam- For example, our Everyday Digital Retail less omni-channel health experience and to strategy saw rapid acceleration in 2020.
Recommended publications
  • Management's Discussion and Analysis

    Management's Discussion and Analysis

    Management’s Discussion and Analysis Table of Contents 4 At a Glance The following Management’s Discussion and Analysis (“MD&A”) for George Weston 5 Our Business Limited (“GWL” or the “Company”) should be read in conjunction with the audited annual consolidated financial statements and the accompanying notes on pages 89 8 Key Performance Indicators to 171 of this Annual Report. The Company’s audited annual consolidated financial Operating Segments statements and the accompanying notes for the year ended December 31, 2019 have 12 Loblaw been prepared in accordance with International Financial Reporting Standards (“IFRS” or “GAAP”) as issued by the International Accounting Standards Board (“IASB”). 14 Choice Properties The audited annual consolidated financial statements include the accounts of 16 Weston Foods the Company and other entities that the Company controls and are reported in 19 Financial Results Canadian dollars, except where otherwise noted. 76 Outlook Under GAAP, certain expenses and income must be recognized that are not necessarily reflective of the Company’s underlying operating performance. Non-GAAP financial 77 Non-GAAP Financial Measures measures exclude the impact of certain items and are used internally when analyzing 87 Forward-Looking Statements consolidated and segment underlying operating performance. These non-GAAP 88 Additional Information financial measures are also helpful in assessing underlying operating performance on a consistent basis. See Section 14, “Non-GAAP Financial Measures”, of this MD&A for more information on the Company’s non-GAAP financial measures. The Company operates through its three reportable operating segments, Loblaw Companies Limited (“Loblaw”), Choice Properties Real Estate Investment Trust (“Choice Properties”) and Weston Foods.
  • Loblaw Companies Stores Where Colleagues/Employees Are Mandated to Wear Masks

    Loblaw Companies Stores Where Colleagues/Employees Are Mandated to Wear Masks

    Loblaw Companies stores where colleagues/employees are mandated to wear masks Province Customers mandated to wear masks Effective December 9, the government of Alberta mandates the use of masks in all indoor public spaces. This includes all Alberta Loblaw stores in Alberta: Extra Foods, nofrills, Real Canadian Superstore, Real Canadian Liquorstore, Shoppers Drug Mart, T&T, Wholesale Club, Your Independent Grocer and Your Independent Liquorstore. Effective November 20, the government of British Columbia mandates the use of masks in all indoor public spaces. This British Columbia includes all Loblaw stores in British Columbia: City Market, Extra Foods, Joe Fresh, nofrills, Real Canadian Superstore, Shoppers Drug Mart, T&T, Wholesale Club and Your Independent Grocer. Effective November 12, the government of Manitoba mandates the use of masks in all indoor public spaces. This includes Manitoba all Loblaw stores in Manitoba: Extra Foods, nofrills, Real Canadian Superstore, Shoppers Drug Mart and Wholesale Club. Effective August 24, the government of Newfoundland mandates the use of masks in all indoor public spaces. This includes Newfoundland all Loblaw stores in Newfoundland: Dominion, nofrills, Shoppers Drug Mart, Your Independent Grocer and Wholesale Club. Effective October 9, the government of New Brunswick mandates the use of masks in all indoor public spaces. This New Brunswick includes all Loblaw stores in New Brunswick: Atlantic Superstore, nofrills, Shoppers Drug Mart, Your Independent Grocer and Wholesale Club. Effective July 31, the government of Nova Scotia mandates the use of masks in all indoor public spaces. This includes all Nova Scotia Loblaw stores in Nova Scotia: Atlantic Superstore, nofrills, Shoppers Drug Mart, Your Independent Grocer and Wholesale Club.
  • A Participative Approach to Developing a Social Accounting and Planning Tool For

    A Participative Approach to Developing a Social Accounting and Planning Tool For

    A Participative Approach to Developing a Social Accounting and Planning Tool for Cooperatives: The Consumer Co-operative Sustainability and Planning Scorecard1 André Leclerc, Leslie Brown, and Elizabeth Hicks with contributions from Monique Bourque, Roméo Cormier and Léo LeBlanc Introduction The Canadian retail grocery industry has been significantly transformed over recent decades. These changes have particularly impacted two aspects of the marketplace. First of all, companies owning grocery retail outlets are growing bigger, with much of the growth being the result of acquisitions and mergers rather than growth of existing firms. This has meant that smaller regional firms have been acquired, concentrating ownership and increasing the market share of the giant companies. For example, by 2002 three major food retailers – Loblaws, Sobeys and Metro – controlled 63 per cent of the Canadian market (Tutunjian 2002). Two of these firms, Sobeys and Loblaws, controlled 69 per cent of the Atlantic Canadian market. A second trend has involved expansion of the range of services offered, to include such items as: pharmaceuticals, nutraceuticals 2 , banking services, clothing, gas, and so on. Further, other sectors, notably pharmacies and retail businesses such as Wal-Mart, provide groceries. According to the Retail Council of Canada (2003-2004), supermarkets are the most prominent example of such category incursion. Consumer tastes and concerns have evolved as well, to encompass concern for the health implications and quality of food, traceability of products, organics, and food labelling (Agriculture and Agri-food Canada 2005; Webb 2003). Complementing these concerns are others around the sustainability and environmental impacts of agricultural production and distribution practices (Agriculture and Agri-food Canada 2005).
  • Global Powers of Retailing 2018: Canadian Executive Summary

    Global Powers of Retailing 2018: Canadian Executive Summary

    Global powers of retailing 2018 Canadian executive summary Global powers of retailing 2018 | Canadian retailers in the top 250 This page has been intentionally left blank. 02 Global powers of retailing 2018 | Introduction Introduction Global powers of retailing is an annual report published by Deloitte that identifies the 250 largest retailers around the world based on publicly available data. This report is for the fiscal year 2016, which ended at June 2017. It analyzes retail performance across geographies and product sectors and highlights the most relevant retail trends. This year, the report also provides an outlook on the future of retailing through the lens of young consumers. 3 Global powers of retailing 2018 | Canadian retailers in the top 250 global retailers list Canadian retailers in the top 250 global retailers list There was limited change in the global rank of Canada’s largest retailers in 2017. The exception was Hudson’s Bay, which grew its retail revenue by 30 percent and jumped 27 spots in the global rank to #87. Hudson’s Bay’s growth was propelled by Within the grocery sector, three of the its recent acquisitions of GALERIA Kaufhof four Canadian retailers on the list declined and Gilt Groupe, and its organic growth, slightly in rank (Loblaw Companies Limited, through expansion into the Netherlands Metro Inc., and Overwaitea Food Group), and extension of Saks Fifth Avenue and while Empire Company Limited stayed Saks OFF 5TH into Canada. Its rapid growth steady at #53. qualified the company for the Fastest 50 list, which is based on compound annual revenue growth over the five-year period of 2010 to 2015.
  • Congratulate Loblaw

    Congratulate Loblaw

    July 22, 2015 Galen G. Weston President Loblaw Companies Limited 1 President’s Choice Circle Brampton, ON L6Y 5S5 Loblaw’s Promise to Eliminate Triclosan, Phthalates, and Microbeads from its Life Brand and President’s Choice Products by the end of 2018 Ottawa Riverkeeper would like to congratulate Loblaw Companies Limited on its recent announcement that it will eliminate triclosan, phthalates, and plastic microbeads from Life Brand and President’s Choice Products by the end of 2018. We are impressed and thankful to hear that Loblaws is taking further measures and has already begun to phase out products sold at your stores and that contain these ingredients that are toxic in the aquatic environment. You may be aware that Ottawa Riverkeeper was a signatory, along with more than 50 other public interest and not-for-profit groups from Canada and the United States, to a letter sent in late 2014, urging the Government of Canada to take urgent action to declare Triclosan to be toxic under the Canadian Environmental Protection Act (CEPA) and to prohibit the use of Triclosan in consumer and institutional products. The Canadian government has stated that a risk management plan will be produced in the spring of 2015 yet we have heard nothing but silence. Almost 4 years ago experts assessed Triclosan and advised our federal government to add this chemical to the Toxics Substances List. Sadly, our government has ignored timelines and failed to act. We were also one of several environmental organizations that signed on to the request to the federal Minister of the Environment to prioritize the assessment of microbeads as “toxic” under CEPA.
  • COVID-19 ‘You Are Not Alone’

    COVID-19 ‘You Are Not Alone’

    COVID-19 ‘You Are Not Alone’ HEALTH CONCERNS – CALL TeleHealth and Local Public Health Units Contact Telehealth Ontario at 1-866-797-0000, your local public health unit or your primary care provider if you’re experiencing symptoms of the 2019 novel coronavirus. TORONTO – Public Health Hotline Call if you have questions about COVID-19 8:30 a.m. – 8 p.m. Telephone: 416-338-7600 TTY: 416-392-0658 Email: [email protected] 311 Toronto Outside City limits: 416-392-2489 Call if you have questions about City services. Telephone: 311 TTY: 416-338-0889 Emergency Services Telephone: 911 - Call if you’re having difficulty breathing or experiencing other severe symptoms. BRITISH COLUMBIA – HealthLink If you have health concerns, call HealthLink BC at 8-1-1. For non-medical information about COVID-19 Call 1-888-COVID19 (1-888-268-4319) or text 604-630-0300 from 7:30 am to 8 pm. ALBERTA – Health Link 811 Call Health Link 811 for additional advice. If you are not seriously ill, do not go to a physician’s office, a health care facility or a lab without consulting with Health Link 811 first. Call 911 if you are seriously ill and need immediate medical attention and inform them that you may have COVID-19 SASKATCHEWAN If you have no symptoms or exposure concerns, but have questions about COVID-19, you can: • Access the most up-to-date news and information on www.saskatchewan.ca/COVID19 • Email [email protected] Launch Self-Assessment - https://public.ehealthsask.ca/sites/COVID-19/ www.leslynlewis.ca COVID-19 ‘You Are Not Alone’ QUEBEC If you are worried about COVID 19 or display symptoms such as a cough or fever, you can call 418-644-4545 in the Québec City region, 514-644-4545 in the Montréal area, 450-644-4545 in the Montérégie region, 819-644-4545 in the Outaouais region and 1-877-644-4545 (toll free) elsewhere in Québec.
  • Face-Off in the Grocery Aisle: Retailers and Suppliers Go Head-To-Head In

    Face-Off in the Grocery Aisle: Retailers and Suppliers Go Head-To-Head In

    Face-off in the Grocery Aisle: Retailers and Suppliers Go Head-to-Head in Canada Kluwer Competition Law Blog July 7, 2014 Mark Katz (Davies Ward Phillips & Vineberg LLP, Canada) Please refer to this post as: Mark Katz, ‘Face-off in the Grocery Aisle: Retailers and Suppliers Go Head-to-Head in Canada’, Kluwer Competition Law Blog, July 7 2014, http://competitionlawblog.kluwercompetitionlaw.com/2014/07/07/face-off-in-the-grocery-aisle-retailers-and-su ppliers-go-head-to-head-in-canada/ I. INTRODUCTION Perhaps more than ever, tensions between suppliers and retailers have become the defining feature of the grocery industry worldwide. These tensions have also frequently formed the basis for interventions (or proposed interventions) by competition enforcement authorities in this sector. Canada is no exception to this global trend. The Canadian retail grocery industry is intensely competitive, with retailers surviving on razor-thin margins. Not surprisingly, margins and pricing pressure at the retail level have led Canadian retailers to seek relief from suppliers. This has generated considerable tension and also provided the backdrop—or source—for calls for competition law intervention. In recent months, for example, the Canadian Competition Bureau (the “Bureau”) has completed two lengthy merger investigations in the grocery sector where retailer/supplier relations became a key issue of focus. Retailer/supplier tensions have also given impetus to a debate in Canada over how far the Bureau should go in “regulating” pricing conduct in the industry (and more generally), with particular sensitivities raised about the “price gap” between Canada and the United States. Finally, this ongoing dispute has generated the suggestion in some quarters that Canada should follow the U.K.’s lead and adopt a form of “code of conduct” to govern retailer/supplier relationships in the grocery industry.
  • Annual Report on the Ontario Medications Return Program and the Ontario Sharps Collection Program for the Period of January 1, 2015 – December 31, 2015

    Annual Report on the Ontario Medications Return Program and the Ontario Sharps Collection Program for the Period of January 1, 2015 – December 31, 2015

    Annual Report on the Ontario Medications Return Program and the Ontario Sharps Collection Program for the period of January 1, 2015 – December 31, 2015 Prepared by: Ginette Vanasse Executive Director, Health Products Stewardship Association 330‐2255 St. Laurent Blvd. Ottawa, ON K1G 4K3 March 31st, 2016 Table of Contents Message from the Executive Director........................................................................................................... 1 1.0 Program Overview .................................................................................................................................. 2 1.1 Designated Materials: Pharmaceuticals (Pharmaceuticals, NHP and OTC) ........................................ 2 1.2 Designated Materials: Sharps ............................................................................................................. 4 1.3 Producers ............................................................................................................................................ 4 1.4 Collection Sites .................................................................................................................................... 4 2. Annual Report Requirements and Results Summary ................................................................................ 6 3. Promotion and Education Strategy ......................................................................................................... 12 3.1 Introduction .....................................................................................................................................
  • West Block Quotes Galen G. Weston, Executive Chairman, Loblaw Companies Limited

    West Block Quotes Galen G. Weston, Executive Chairman, Loblaw Companies Limited

    West Block Quotes Galen G. Weston, Executive Chairman, Loblaw Companies Limited: “When the building first opened in 1928 it was hailed as the most modern warehouse of its kind. Our task was to reconstruct a space that represents Loblaw’s exciting future and properly captures the essence of both its history, and that of the city,” said Galen G. Weston, Executive Chairman, Loblaw. “Brick by brick and stone by stone, West Block’s historic façade has been restored so it once again becomes a destination within the community.” Sarah Davis, President, Loblaw Companies Limited: “The reopening of the West Block building is an important milestone in Loblaw’s history, and a cornerstone of our future,” said Sarah Davis, President, Loblaw. “The building is an architectural representation of our company, and our role as an ongoing retail innovator. It brings together our century-long story, combining convenient bricks-and-mortar store locations and the new hub of our digital, loyalty and financial services teams.” Tony Grossi, President, Wittington Properties: “Wittington Properties recognized a great opportunity in 2013. The historical Loblaw Grocerteria head office and warehouse location was in need of a complete restoration at a scale never before imagined in the City of Toronto,” said Tony Grossi, President of Wittington Properties. “Meticulous attention to detail was paid to not only the precise placement of brick and stone, but also to the reintroduction of the original bronze reliefs at the Heritage Entrance and in recreation of the original Loblaw Groceteria building sign. The focus on recapturing the original essence of the historical building was important to preserve the memory that a great brand in 1928 continues to be a great brand over 90 years later.” Barry Columb, President, PC Financial: “PC Financial is all about providing everyday rewards to Canadians through digital-first payments innovations,” says Barry Columb, President, PC Financial.
  • ITZ Loblaw Native Plant Store List 2021

    ITZ Loblaw Native Plant Store List 2021

    POSTAL CODE / PHONE NUMBER / STORE / MAGASIN STREET / RUE CITY / VILLE CODE POSTAL NUM. DE TÉLÉPHONE Ajax Superstore 30 Kingston Road West Ajax L1T 4K8 (905) 683-2272 Zehrs Alliston 30 King Street South Alliston L9R 1H6 (705) 434-9391 Fortinos Ancaster 54 Wilson Street West Ancaster L9G 1N2 (905) 304-5740 Aurora Superstore 15900 Bayview Avenue Aurora L4G 7Y3 (905) 726-9532 Provigo Aylmer 375, chemin d'Aylmer Aylmer J9H 1A5 (819) 682-4433 Loblaws Bayfield 472 Bayfield Street Barrie L4M 5A2 (705) 735-6689 Zehrs Essa Road 11 Bryne Drive Barrie L4N 8V8 (705) 733-1119 Zehrs Duckworth 607 Cundles Rd East Barrie L4M 0J7 (705) 722-3636 Zehrs Big Bay Point 620 Yonge Street Barrie L4N 4E6 (705) 735-2390 Zehrs Bolton 487 Queen St. S Bolton L7E 2B4 (905) 951-9555 Loblaws Bowmanville Market 2375 Highway #2 Bowmanville L1C 5A3 (905) 623-2600 Fortinos Mountainash 55 Mountainash Road Brampton L6R 1W4 (905) 793-8200 Fortinos Hwy 10 & Bovaird 60 Quarry Edge Drive Brampton L6V 4K2 (905) 453-3600 Fortinos Highway 7 & Brisdale 35 Worthington Avenue Brampton L7A 2Y7 (905) 495-8108 Hwy 10 & Steeles Superstore 85 Steeles Ave West Brampton L6Y 0B5 (905) 451-4999 Zehrs Fairview 410 Fairview Drive Brantford N3R 7V7 (519) 754-4932 Zehrs King George 290 King George Rd Nth/Highway24 Brantford N3R 5L8 (519) 751-8988 Fortinos Plains Road 1059 Plains Road East Burlington L7T 4K1 (905) 634-1591 Fortinos Upper Middle 2025 Guelph Line Burlington L7P 4M8 (905) 336-6566 Fortinos Burlington Appleby 2515 Appleby Line Burlington L7R 0B6 (905) 319-1690 Fortinos New Street 5111 New Street Burlington L7L 1V2 (905) 631-7227 Zehrs Caledonia 322 Argyle Street South Caledonia N3W 1K8 (905) 765-8207 Zehrs Cambridge Centre 400 Conestoga Blvd Cambridge N1R 7L7 (519) 620-1376 Zehrs Hespeler 180 Holiday Inn Drive Cambridge N3C 3Z4 (519) 658-4689 Zehrs South Cambridge 200 Franklin Blvd Cambridge N1R 5S2 (519) 624-8170 Provigo Le Marché Charlesbourg 4545, boul.
  • 2018 Annual Report

    2018 Annual Report

    2018 Annual Report George Weston Limited Footnote Legend (1) See Section 18, “Non-GAAP Financial Measures”, of the Company’s 2018 Management’s Discussion and Analysis. (2) For financial definitions and ratios refer to the Glossary beginning on page 174. (3) To be read in conjunction with “Forward-Looking Statements” beginning on page 4. (4) Certain current and comparative figures have been restated to present Continuing Operations at Loblaw as a result of Loblaw’s spin-out of Choice Properties. See note 5 in the Company’s 2018 annual consolidated financial statements. (5) Certain figures have been restated as a result of IFRS 15, “Revenue from Contracts with Customers” and a change in accounting policy. See note 2 in the Company’s 2018 annual consolidated financial statements. Financial Highlights 1 / Report to Shareholders 2 / Management’s Discussion and Analysis 3 / Financial Results 79 / Three Year Summary 172 / Glossary 174 / Corporate Directory 176 / Shareholder and Corporate Information 177 Financial Highlights(2) As at or for the years ended December 31 ($ millions except where otherwise indicated) 2018 2017(5) Consolidated Operating Results Sales $ 48,568 $ 48,289 Operating income 2,585 2,561 Adjusted EBITDA(i) 4,528 4,337 Depreciation and amortization(ii) 1,746 1,685 Net interest expense and other financing charges 948 523 Adjusted net interest expense and other financing charges(i) 762 555 Income taxes 639 449 Adjusted income taxes(i) 680 712 Net earnings 998 1,589 Net earnings attributable to shareholders of the Company(iii)
  • (905) 634-1591 Longo's 1225 Fairview Street

    (905) 634-1591 Longo's 1225 Fairview Street

    Bob’s No Frills Assumption Catholic SS 571 Brant Street (866) 987-6453 3230 Woodward Avenue (905) 634-1835 Fortinos Blyth Academy 1059 Plains Road East (905) 634-1591 Longo’s 422 Pearl Street (905) 637-0346 1225 Fairview Street (905) 637-3804 Burlington Central HS Sobeys 1433 Baldwin Street (905) 634-7768 1250 Brant Street (905) 332-3373 Central PS Walmart Burlington Supercentre 638 Brant Street (905) 634-7739 2065 Fairview Street (905) 637-3100 King’s Road PS 660 Greenwood Drive (905) 637-3477 Lakeshore PS 2243 Lakeshore Road (905) 634-3244 BMO Oxford College 519 Brant Street (905) 637-8224 760 Brant Street (855) 949-6936 CIBC St. John Elementary 2400 Fairview Street (905) 632-5622 653 Brant Street (905) 632-3541 RBC Tecumseh PS 360 Pearl Street (905) 634-1891 3141 Woodward Avenue (905) 639-8330 Scotiabank Thomas Merton Centre for 547 Brant Street (905) 637-5509 TD Bank Continuing Education (High School) 510 Brant Street (905) 639-8921 760 Brant Street (905) 632-5858 Tom Thomson PS 2171 Prospect Street (905) 639-2010 Elizabeth Street Pharmacy 500 Elizabeth Street (905) 681-3784 Maple IDA 573 Maple Street (905) 333-0031 Burlington Central Public Library Medisystem Pharmacy 2331 New Street (905) 639-3611 802 Hager Street (905) 637-1774 Shoppers Drug Mart 900 Maple Avenue (905) 681-1277 Brant Plaza Pharmacy (Retail Outlet) 561 Brant Street (866) 607-6301 Burlington CSC Brant Children’s Centre 688 Brant Street (866) 607-6301 2225 New Street (905) 634-5518 Shoppers Drug Mart (Retail Outlet) Brant YMCA Child Care Centre 1182 North Shore East (905) 631-5862 3023 New Street (866) 607-6301 Les Coccinelles 777 Guelph Line (866) 607-6301 1226 Lockhart Road (905) 333-0202 501-503 Plains Rd.