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Summary
- Sleep Country Canada Holdings Inc (TSX:ZZZ) and George Weston Limited (TSX:WN) released their first-quarter fiscal 2021 results on Tuesday, May 11.
- Following the release, Sleep Country stocks climbed by one per cent on Tuesday (10:30AM EST).
- George Weston stock dipped by one per cent and was trading at C$ 113.46 at 11 AM EST.
Businesses experienced several challenges last year due to the COVID-19 outbreak. As the pandemic persists, many companies continue to take a hit while others seem to have recovered from the worst blows.
Early on Tuesday, May 11, Canadian companies Sleep Country Canada Holdings Inc (TSX:ZZZ) and George Weston Limited (TSX:WN) released their first-quarter fiscal 2021 results. Let's take a look at these companies’ latest financials to understand their recent performance in the light of the pandemic.
Sleep Country Canada Holdings Inc (TSX:ZZZ)
Despite tough market conditions, mattress retailer Sleep Country Canada saw its net income surge by 74.1 per cent to C$ 8.7 million in Q1 2021. In the same period, its revenue was up by 20.7 per cent year-over-year (YoY) to C$ 183 million.
Sleep Country’s operating EBITDA increased to C$ 31.5 million, representing a jump of 12.9 per cent YoY, in Q1 2021.
Following the release, its scrip climbed by one per cent on Tuesday and was trading at C$ 34.93 apiece at the time of writing this article (10:30AM EST).
While its year-to-date (YTD) growth sits at 34 per cent, Sleep Country stock ballooned by 158.8 per cent over the past year.
The mattress company pays a quarterly dividend of C$ 0.195 and its current dividend yield is 2.3 per cent.
George Weston Limited (TSX:WN)
George Weston Limited, on the other hand, reported a net loss of C$ 62 million in its latest quarter results. However, the Canadian retailer giant said that it earned C$ 243 million on an adjusted basis, posting an increase of C$ 4 million from Q1 2020.
Its revenue totalled to C$ 12.35 billion in the latest quarter, up from C$ 12.33 billion in Q1 2019.
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Following the earnings release, George Weston stock dipped by one per cent and was trading at C$ 113.46 at 11 AM EST. The stock, which grew by 19 per cent in the past three months, holds a 13.5 per cent return on equity (ROE) and a price-to-earnings (P/E) ratio of 19.1, as per TMX.
George Weston's quarterly dividend, which currently stands at C$ 0.55, grew at the rate of 5.8 per cent in the past three years.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.
