07:12 AM EST, 02/20/2025 (MT Newswires) -- Loblaw ( LBLCF ) on Thursday reported higher fourth-quarter adjusted profit on marginally increased revenue.

The grocery company said adjusted profit rose 6.2% to $669 million, or $2.20 per adjusted diluted share, from $630 million, or $2 per adjusted diluted share, in the prior-year period.

Revenue increased 3%, to $15 billion. Food retail sales was $10.6 billion, a 3% increase, while same-store sales growth was 1.5%. Drug retail sales were $4.4 billion, and same-store sales grew by 1.3%, down from 2023's 4.6%.

In its outlook, Loblaw ( LBLCF ) noted that 2025 will include the impact of a 53rd week, which which is expected to benefit adjusted profit per common share growth by 2%. The company also expects adjusted EPS growth to be in the high single-digits.

Loblaw ( LBLCF ) will pay a quarterly dividend of $0.513 per share on April 1.