North West Company Clocks 2.5% Sales Growth In Q4

North West Company Inc NWC NNWWF reported fourth-quarter sales growth of 2.5% year-over-year to C$579.2 million.
Same-store sales improved 0.1% compared to a 16.8% growth last year.
EPS improved to C$0.71 from C$0.63 in 4Q2Q.
The gross margin contracted by 134 bps to 31.9%.
Selling, operating, and administrative expenses decreased by C$3.6 million to C$135.13 million compared to last year and were down 121 bps as a percentage of sales.
Adjusted EBITDA was C$67.09 million (-2.7% Y/Y), and the margin declined by 62 bps to 11.6%.
North West opened six new stores, three in Canada and three in International Operations, in FY21.
The company's Chairman of the Board Sandy Riley will retire following the Annual General Meeting on June 8, 2022. He will be succeeded by Brock Bulbuck subject to his re-election at that meeting.
Price Action: NWC shares are trading lower by 2.22% at C$38.62 on TSX on the last check Wednesday.

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