2026 SECOND QUARTER HIGHLIGHTS
Sales of $5,113.0 million, up 4.1%
Food same-store sales(1) up 1.8%
Pharmacy same-store sales(1) up 5.1%
Net earnings of $246.6 million, up 12.1% and adjusted net earnings(1) of $236.5 million, up 4.4%
Fully diluted net earnings per share of $1.16, up 17.2% and adjusted fully diluted net earnings per share(1) of $1.11, up 8.8%
Returned $222.5 million to shareholders through share repurchases
Opened or converted three stores in the quarter
12 weeks / Fiscal Year
(Millions of dollars, except for net earnings per share)
2026
%
2025
%
Change (%)
Sales
5,113.0
100.0
4,909.9
100.0
4.1
Operating income before depreciation and amortization
508.6
9.9
461.0
9.4
10.3
Net earnings
246.6
4.8
220.0
4.5
12.1
Fully diluted net earnings per share
1.16
—
0.99
—
17.2
Adjusted net earnings(1)
236.5
4.6
226.6
4.6
4.4
Adjusted fully diluted net earnings per share(1)
1.11
—
1.02
—
8.8
24 weeks / Fiscal Year
(Millions of dollars, except for net earnings per share)
2026
%
2025
%
Change (%)
Sales
10,398.8
100.0
10,027.0
100.0
3.7
Operating income before depreciation and amortization
991.2
9.5
942.5
9.4
5.2
Net earnings
472.9
4.5
479.5
4.8
(1.4)
Fully diluted net earnings per share
2.21
—
2.15
—
2.8
Adjusted net earnings(1)
485.2
4.7
472.0
4.7
2.8
Adjusted fully diluted net earnings per share(1)
2.27
—
2.12
—
7.1
PRESIDENT'S MESSAGE
"We delivered solid second quarter results, driven by strong revenue growth and disciplined expense control, as our teams continue to offer the best possible value to customers. across all our banners. We are very pleased with the expansion of our discount store network, which continues to fuel food sales growth, as well as with the sustained sales momentum in our pharmacy business. We are disappointed with the strike at our produce distribution center in Laval, our contingency plan is in place and our Quebec stores are now generally well stocked. We look forward to a resolution that considers the needs of our employees and customers while ensuring the long-term competitiveness of our company(2).", declared Eric La Flèche, President and Chief Executive Officer.
OPERATING RESULTS
SALES
Sales in the second quarter of Fiscal 2026 ended on March 14, 2026 were $5,113.0 million, up 4.1% versus the second quarter of the prior year which ended on March 15, 2025. Sales were positively impacted by new store openings, same-store sales growth, as well as the transfer of one significant pre-Christmas shopping day to the second quarter this year.
Food same-store sales(1) were up 1.8% in the second quarter of Fiscal 2026 (2025, 5.3%) and up 1.5% when adjusting for the Christmas shift(3). Online food sales(1) were up 19.8% versus last year (2025, 26.2%). Our food basket inflation was in line with the reported CPI of 4.3% for food purchased from stores. Pharmacy same-store sales(1) were up 5.1% (2025, 7.0%), with a 6.1% increase in prescription drugs(1) and a 2.8% increase in front-store sales(1), primarily driven by cosmetics and health and beauty. When adjusting for the Christmas shift(3), front-store sales(1) were up 2.3%.
Sales in the first 24 weeks of Fiscal 2026 totalled $10,398.8 million, up 3.7% compared to $10,027.0 million for the corresponding period of 2025.
OPERATING INCOME BEFORE DEPRECIATION AND AMORTIZATION
This earnings measurement excludes financial ...
