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Highlights
- At the end of the trading session on March 30, the Loblaw stock closed 0.1 per cent higher at C$ 111.16 per share.
- Last year, Loblaw's e-commerce sales were C$ 3.1 billion, representing an annual increase of 13.9 per cent.
- On March 14, 2022, Loblaw announced that its wholly-owned subsidiary Shoppers Drug Mart would acquire Lifemark Health Group.
Some public health experts have warned Canada that it is at a risk of a fresh COVID-19 wave. The warning comes as the authorities look to ease public health measures due to a significant drop in cases and a high vaccination rate.
In Ontario, free rapid antigen tests would be provided until the end of July as the Ontario Science Advisory Table reportedly anticipates a sixth wave of the coronavirus pandemic.
Some published reports suggest that Alexandra Hilkene, the press secretary from Minister of Health Christine Elliott, said that the tests would be available across pharmacies, grocery stores, hospitals, schools, and workplaces.
According to the Government of Canada, the country had 6,670 cases as of March 30. Meanwhile, the daily per cent positive was 15.7 per cent in the last seven days.
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As concerns of another wave of the pandemic rise, let's find out if it is worth considering exploring consumer defensive retail stocks. In this article, we will be looking at the stock of Loblaw Companies Limited (TSX:L).
Loblaw Companies Limited (TSX:L): Key details
On March 14, 2022, Loblaw announced that its wholly-owned subsidiary Shoppers Drug Mart would acquire Lifemark Health Group for a cash consideration of C$ 845 million.
Lifemark is one of the leading providers of physiotherapy, chiropractic, mental health, and other ancillary rehabilitation services across 300 clinics.
The healthcare sector remains important as the pandemic continues and expanding the business by acquiring healthcare companies could help Loblaw grow in future.
On March 3, Loblaw's subsidiary T&T Supermarkets said it plans to open two new stores in Western Canada and two stores in Toronto and Montreal.
As the company's subsidiaries are looking to expand by opening new stores and acquiring companies, the parent company Loblaw Companies Limited, appears to be on the right track to continue expanding business operations.
At the end of the trading session on March 30, the Loblaw stock closed 0.1 per cent higher at C$ 111.16 per share. Notably, it is a dividend-paying stock, and Loblaw distributes a quarterly dividend of C$ 0.365 per unit, and its dividend yield was 1.3 per cent.
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Bottom line
In Q4 2021, Loblaw's revenue was C$ 12,486 million, up 2.6 per cent year-over-year (YoY). Meanwhile, the operating income was C$ 705 million, representing an increase of C$ 70 million from Q4 2020.
Last year, Loblaw's e-commerce sales were C$ 3.1 billion, representing an annual increase of 13.9 per cent. Hence, if public health restrictions like a lockdown situation are enforced again, it seems that Loblaw is ready to face that situation.
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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
