North West Company Clocks 2.5% Sales Growth In Q4

• North West Company Inc (TSX:NWC) (OTC: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.