Weston's Bakery Segment Headwinds Should Start to Wane, but Landscape Remains Competitive
With its retail Loblaw operations (93% of 2018 revenue before intersegment eliminations) having already reported 3% sales growth for the first quarter (giving us little reason to change our five-year outlook of low-single-digit annual sales growth for the business) there was not much new material information in no-moat George Weston's earnings update. That said, we plan to lift our 2019 0.2% sales growth forecast toward a 2% rise to account for additional lease revenue recognized from the compan...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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