Growth in Store…
More growth in store… The NorTh WesT CompaNy iNC. 2010 summary annual report 2010I F nanCIal hIGhlIGhts a ll currency figures in this report are in Canadian dollars, unless otherwise noted year ended year ended year ended ($ in thousands, except per share information) January 31, 2011 January 31, 2010 January 31, 2009 resulTs For The year sales $ 1,448,104 $ 1,444,366 $ 1,392,634 same store sales % increase 1 2.7% 0.1% 2.7% trading profit 2 (earnings before interest, income taxes and amortization) $ 125,302 $ 130,274 $ 122,257 earnings before interest and income taxes 2 I(eB t) 89,810 95,124 90,203 net earnings 76,594 81,813 75,378 Cash flow from operations 2 113,076 116,486 106,324 FiNaNCial posiTioN total assets $ 620,482 $ 623,800 $ 609,173 total debt 192,596 209,170 213,026 total equity 302,497 289,926 274,410 FiNaNCial raTios Debt-to-equity .64:1 .72:1 .78:1 return on net assets 3 17.5% 18.7% 19.8% return on average equity 25.8% 29.3% 28.6% sales blend: Food 76.0% 77.0% 75.0% General merchandise 20.0% 20.0% 22.0% o ther 4.0% 3.0% 3.0% per share ($) ¬ DiluTeD 4 trading profit $ 2.58 $ 2.69 $ 2.52 net earnings 1.58 1.69 1.56 Cash flow from operations 2.33 2.40 2.20 market price ¬ January 31 21.09 17.94 16.14 ¬ high 23.00 19.60 19.99 ¬ low 17.02 14.88 13.00 s ales t rading profit2 Cash Distributions ($ in millions) ($ in millions) p er unit ¬ Diluted ($) 1,444 1,448 1.42 1,500 150 1.50 1,393 1.40 1.39 130 122 125 1,250 125 1.25 1.13 1,064 107 1,000 945 100 96 1.00 0.80 750 75 0.75 500 50 0.50 250 25 0.25 0 0 0.00 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 1 same store sales, excluding the foreign exchange impact, on an equivalent year basis 2 See non-Gaap measures section on page 26 in the annual Financial report which is available through SEDar at www.sedar.com and the Company’s website at www.northwest.ca 3 Earnings before interest and income taxes as a percent of average net assets employed 4 Effective January 1, 2011, north West Company Fund converted to a share corporation called the north West Company Inc.
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