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The North West Company Inc. Announces First Quarter Earnings and a Quarterly Dividend The North West Company Inc Winnipeg, Manitoba, CANADA WINNIPEG, Manitoba, June 09, 2021 (GLOBE NEWSWIRE) (TSX: NWC): The North West Company Inc. (the Company or North West ) today reported its unaudited financial results for the first quarter ended April 30, 2021. It also announced that the Board of Directors have declared a dividend of $0.36 per share to shareholders of record on June 30, 2021, to be paid on July 15, 2021. Growth continued in our first quarter with some banners up strongly, even compared to their exceptional results in the first quarter of 2020. Our cost structure is leaner and our retail businesses are more profitable and less volatile as a whole, after the divestiture of most of our Giant Tiger stores last year. In addition, our air cargo business achieved another quarter of high utilization, offsetting the ongoing weak ....
CEO Comments on Fourth Quarter Results and Annual Results “2020 was the most intensely active and reactive year in The North West Company’s history. We started with a great playbook and ended with completely different and unexpected outcomes, including the highest annual sales gains of any Canadian-based retailer.” Commented President & CEO Edward Kennedy. “The single constant was the adaptability of North West, or more accurately, the people of North West and the communities we are privileged to serve. Our associates handled big increases in sales volumes while dealing with new work protocols and constraints presented by COVID-19. These were challenging physical factors. Added was the stress of being front-line workers, with many living in high risk circumstances, and the Pandemic anxieties that affected us all. Under these circumstances we tried our best to financially recognize workloads and help each other stay positive, healthy and energized. ....