Acquisition boosts North West Company sales
June 15, 2017
Last year’s acquisition of a leading retailer/wholesaler in the British Virgin Islands is paying dividends for Winnipeg-based North West Company Inc.
The junior department store operator released its first-quarter results on Wednesday, which showed sales for the quarter were up 8.6 per cent from a year earlier to $476.8 million.
The company said much of the increase was due to last year’s acquisition of the nine-store Roadtown Wholesale Trading Ltd. (RTW), as well as improved sales within its Canadian operations.
"The quarter was a very strong one in northern Canada as we continued to build sales and expense-management momentum," said company president and CEO Edward Kennedy.