Business
The North West Company Inc. Announces Second Quarter Earnings and an Increase in the Quarterly Dividend
WINNIPEG, Manitoba, Sept. 08, 2025 (GLOBE NEWSWIRE) -- (TSX: NWC): The North West Company Inc...
About this update from North West Company Inc.
[{"type":"text","content":"The North West Company Inc. Announces Second Quarter Earnings and an Increase in the Quarterly Dividend\n\n\n\n WINNIPEG, Manitoba, Sept. 08, 2025 (GLOBE NEWSWIRE) --\n \n (TSX: NWC):\n \n The North West Company Inc. (the \"Company\" or \"North West\") today reported its unaudited financial results for the second quarter ended July 31, 2025. It also announced that the Board of Directors has declared a quarterly dividend of $0.41, an increase of $0.01 or 2.5% per share, to shareholders of record on September 29, 2025, to be paid on October 15, 2025.\n \n\n “Our results this quarter reflect the significant headwinds from community evacuations due to widespread wildfires across northern Canada, a decrease in Jordan’s Principle funding and ongoing pressures from a softer economy, particularly in our Alaska markets,” said Dan McConnell, President & CEO. “Our Next 100 work, including the continued refinement of our merchandise assortment and focus on labour efficiency and expense management helped mitigate these headwinds. We remain confident in the strength of our business and the resiliency of our product and service offering within this uncertain economic environment and we are committed to executing our Next 100 strategy to drive sustainable value for our customers and shareholders.”\n \n\n\n\n\n Financial Highlights\n \n\n\n\n\n\n Sales\n \n Second quarter consolidated sales increased 0.1% to $647.0 million compared to $646.5 million last year due to an increase in Canadian sales, new stores and the impact of foreign exchange on the translation of International Operations sales. Consolidated sales excluding the foreign exchange impact were flat to last year with food sales decreasing 0.8% and general merchandise and other sales increasing 2.8% compared to last year driven by higher third-party airline revenue and pharmacy sales in Canada. These factors were largely offset by lower same store sales which decreased 1.1%\n \n 1\n \n compared to a 4.3% sales gain in the second quarter last year due to a 1.8% decrease in same store sales in Canadian Operations and a 0.1%\n \n 1\n \n increase in same store sales in International Operations. Same store sales in Canadian Operations were negatively impacted by wildfire-related community evacuations in northern Canada and the impact of ...