Business
The North West Company Inc. Announces First Quarter Earnings and a Quarterly Dividend
WINNIPEG, Manitoba, June 10, 2025 (GLOBE NEWSWIRE) -- (TSX: NWC): The North West Company ...
About this update from North West Company Inc.
[{"type":"text","content":"The North West Company Inc. Announces First Quarter Earnings and a Quarterly Dividend\n\n\n\n WINNIPEG, Manitoba, June 10, 2025 (GLOBE NEWSWIRE) --\n \n\n (TSX: NWC):\n \n\n The North West Company Inc. (the \"Company\" or \"North West\") today reported its unaudited financial results for the first quarter ended April 30, 2025. It also announced that the Board of Directors has declared a quarterly dividend of $0.40 to shareholders of record on June 27, 2025, to be paid on July 15, 2025.\n \n\n “Our strong first quarter performance reflects the continued momentum across our business,” said Dan McConnell, President & CEO. “Same-store sales growth and improved execution focused on meeting customer needs drove increased earnings and built on the solid foundation we established in the first quarter of last year. We’re especially encouraged by the progress we’ve made in improving on-shelf availability and refining our merchandise assortment. While it’s still early, we’re confident that our focus on operational excellence through the Next 100 initiative is the right strategy — one that will deliver meaningful value to both our customers and our shareholders. Finally, I want to acknowledge the communities affected by the wildfires in northern Canada. Our thoughts are with those impacted, and we extend our heartfelt thanks to the firefighters, community leaders, and everyone working tirelessly to protect residents and ensure their safety.”\n \n\n\n\n\n Financial Highlights\n \n\n\n\n\n\n\n Sales\n \n\n First quarter consolidated sales increased 3.9% to $641.4 million compared to $617.5 million last year led by same store sales gains, the impact of foreign exchange on the translation of International Operations sales and sales from new stores. These factors were partially offset by the impact of lower wholesale sales and one extra day of sales last year as a result of February 29. Excluding the foreign exchange impact, consolidated sales increased 1.8%, with food sales increasing 1.7% and general merchandise and other sales increasing 1.9% compared to last year. On a same store basis, sales increased 3.5%\n \n 1\n \n compared to the first quarter last year driven by a 4.0% increase in same store sales in Canadian Operations and a 2.8%\n \n 1\n \n increase in ...