The Successful Investor Hotline – Friday, January 24, 2025
Article Excerpt
LOBLAW COMPANIES LTD., $186.54, Toronto symbol L, is a buy.
The company operates 1,113 supermarkets under several banners, including Loblaws, Zehrs, Provigo, Real Canadian Superstore and No Frills. It also operates 1,354 associate-owned Shoppers Drug Mart locations.
Loblaw is now selling its 42 Wellwise by Shoppers outlets to Verillium Health Care. Wellwise stores carry a variety of medical and fitness products, such as walkers, canes, scooters and braces.
The company has not yet said how much it will receive for the Wellwise stores when it completes the transaction by March 31, 2025.
The sale will let Loblaw better focus on its main retail and pharmacy operations. The company also continues to expand its Lifemark chain of 313 clinics that provide physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other rehabilitation services.
Loblaw’s projected earnings will probably improve 11%, from $8.57 a share in 2024 to $9.47 in 2025. The stock, which has jumped nearly 40% in the past year, trades at a reasonable 19.7…
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