07:21 AM EST, 12/10/2024 (MT Newswires) -- The North West Company ( NNWWF ) overnight Monday reported third-quarter adjusted net income narrowed on slightly higher revenue.

The company, which operates supermarkets in Canada, the South Pacific and the Caribbean, said adjusted profit fell 3.1% to $40.1 million. The company did not provide per share amounts.

Consolidated sales increased 3.3% to $637.5 million, driven by same store sales gains and the impact of new stores. Excluding the foreign exchange impact, consolidated sales increased 3.4%, with food sales increasing 3.3%.

"Our Canadian and International Operations delivered solid same-store sales growth and an increase in EBITDA this quarter. However, we saw a decline in net earnings compared to last year's impressive results, primarily due to higher expenses and increased income taxes," said President & CEO Dan McConnell.

The company will pay a quarterly dividend of $0.40 on Jan. 15.