E-Commerce Efforts Not Enough to Offset Ongoing Headwinds for No-Moat George Weston
With its retail Loblaw operations (96% of 2018 revenue) having already reported 0.2% sales growth for the year (near our 0.7% estimate) there was not much new material information in no-moat George Weston's fourth-quarter results. George Weston reported 2018 revenue growth and earnings per share of 0.6% and $6.85, respectively, compared with our 0.2% growth and $6.81 estimates. We don't expect a material change to our CAD 117 fair value estimate and see shares as undervalued.As expected, George...
George Weston is a holding company. Co. has two reportable operating segments: Weston Foods and Loblaw. The Weston Foods operating segment is engaged in fresh and frozen baking company in Canada and frozen baking and biscuit manufacturing in the United States. The Loblaw operating segment is engaged in distributing and providing drugstore, general merchandise and financial products and services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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