-- The North West Company (NWC.TO), up near 6% on last look, on Wednesday reported lower fourth-quarter adjusted earnings.
The company, which operates grocery stores in Canada's North and the Caribbean, said adjusted earnings, excluding most one-time items, edged down to $43.5 million, from $44.6 million, in the prior year period. The company did not provide per share amounts.
Sales for the fourth quarter rose 0.1% to $675.5 million. Analysts polled by FactSet had forecast sales of $658.0 million. Higher sales in the company's international operations sales were largely offset by lower sales in Canada.
Canadian same store sales , down 2.8% compared to very strong same store sales gains last year of 6.7%, were negatively impacted by a decrease in the distribution of funding to individuals from First Nations Child and Family Services programs, North West added.
North West also said refinanced its $400.0 million and US$52.0 million loan facilities that were originally maturing March 1, 2027. The loan facilities, refinanced with existing lenders, will now mature April 8, 2031.
The company will pay a regular quarterly dividend of $0.41 per share on April 24, to shareholders of record on April 15.
North West Company shares were last seen up $3.03 to $55.25 on the Toronto Stock Exchange.
Price: $55.21, Change: $+2.99, Percent Change: +5.73%