BRAMPTON, ON, Nov. 17, 2021 /CNW/ - Loblaw Companies Limited (TSX: L) ("Loblaw" or the "Company") announced today its unaudited financial results for the third quarter ended October 9, 2021. The Company's 2021 Third Quarter Report to Shareholders will be available in the Investors section of the Company's website at loblaw.ca and will be filed on SEDAR and available at sedar.com.
"In the third quarter, our focus on core retail execution and an enthusiastic consumer response drove another quarter of strong financial results," said Galen G. Weston, President and Chairman, Loblaw Companies Limited. "As the country emerges from pandemic-related lockdown, our portfolio of supermarkets and drug stores positions us well to meet the evolving needs of Canadians."
Loblaw experienced strong demand in stores and online, as economies re-opened and eat-at-home trends remained elevated. Seasonal shopping for back-to-school and Thanksgiving was robust, demonstrating an enthusiastic return to certain pre-pandemic routines. This was also evident in our Pharmacy businesses. Beauty sales climbed with the gradual return to social and work activities. In addition, drug sales grew, supported by demand for pharmacy services, including patient health consultations, vaccination administration and testing.
Loblaw's focus on its core retail business drove another strong quarter of operational and financial improvement – characterized by increases in customer traffic and market share in Loblaw's Food and Drug businesses. Customers have responded positively to our data driven mass and personalized promotions, enabling us to deliver value where consumers and their families need it most. Online sales remain above pre-pandemic levels and are on track to exceed $3 billion in 2021, improving on last year's performance.