Loblaw
Loblaw Investor Day
February 28, 2012
1
Forward looking statements
This Investor Day presentation for Loblaw Companies Limited contains forward-looking statements about the Company’s objectives, plans, goals, aspirations, strategies, financial condition, results of operations, cash flows, performance, prospects and opportunities. These forward-looking statements are typically identified by words such as “anticipate”, “expect”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions, as they relate to the Company and its management. In this presentation, forward looking statements include the Company’s expectation that: • its capital expenditures in 2012 will be approximately $1.1 billion; • costs associated with the transition of certain Ontario conventional stores under collective agreements ratified in 2010 will range from $30 million to $40 million; • incremental costs related to investments in IT and supply chain in 2012 will be approximately $70 million; • incremental costs associated with strengthening its customer proposition will be approximately $40 million; and • full-year 2012 net earnings per share to be down year-over-year, with more pressure in the first half of the year, as a result of the Company’s expectation that operations will not cover the incremental costs related to the investments in IT and supply chain and its customer proposition. These forward-looking statements are not historical facts but reflect the Company’s current expectations concerning future results and events. They also reflect management’s current assumptions regarding the risks and uncertainties referred to below and their respective impact on the Company. In addition, the Company’s expectation with regard to its net earnings in 2012 is based in part on the assumptions that tax rates will be similar to those in 2011, the Company achieves its plan to increase net retail square footage by
February 28, 2012
1
Forward looking statements
This Investor Day presentation for Loblaw Companies Limited contains forward-looking statements about the Company’s objectives, plans, goals, aspirations, strategies, financial condition, results of operations, cash flows, performance, prospects and opportunities. These forward-looking statements are typically identified by words such as “anticipate”, “expect”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may” and “should” and similar expressions, as they relate to the Company and its management. In this presentation, forward looking statements include the Company’s expectation that: • its capital expenditures in 2012 will be approximately $1.1 billion; • costs associated with the transition of certain Ontario conventional stores under collective agreements ratified in 2010 will range from $30 million to $40 million; • incremental costs related to investments in IT and supply chain in 2012 will be approximately $70 million; • incremental costs associated with strengthening its customer proposition will be approximately $40 million; and • full-year 2012 net earnings per share to be down year-over-year, with more pressure in the first half of the year, as a result of the Company’s expectation that operations will not cover the incremental costs related to the investments in IT and supply chain and its customer proposition. These forward-looking statements are not historical facts but reflect the Company’s current expectations concerning future results and events. They also reflect management’s current assumptions regarding the risks and uncertainties referred to below and their respective impact on the Company. In addition, the Company’s expectation with regard to its net earnings in 2012 is based in part on the assumptions that tax rates will be similar to those in 2011, the Company achieves its plan to increase net retail square footage by