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The company says its net earnings available to common shareholders from continuing operations totalled $610 million or $4.41 per diluted share for the quarter ended Oct. 7, down from $889 million or $6.14 per diluted share a year earlier.

George Weston says the decrease was due to the unfavourable year-over-year net impact of adjusting items, primarily driven by a fair value adjustment on investment properties.

Revenue totalled $18.41 billion for the quarter, up from $17.52 billion in the same quarter last year.

On an adjusted basis, George Weston says it earned $3.36 per diluted share from continuing operations in its latest quarter, up from an adjusted profit of $3.12 per diluted share a year earlier.

George Weston owns a majority stake in Loblaw Cos. Ltd. and a large stake in Choice Properties REIT.

This report by The Canadian Press was first published Nov. 21, 2023.

Companies in this story: (TSX:WN)

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The Canadian Press

The Canadian Press

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The Canadian Press is a national wire service that provides real-time stories for more than 600 media companies.

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