By Adriano Marchese

Loblaw Cos. reported a 32% rise in third-quarter earnings as the company's pharmacy business' strong sales contributed to revenue growth in the period.

On Wednesday, the Canadian food retailer said earnings per share were 1.27 Canadian dollars ($1.01), up from C$0.96 in the comparable quarter a year ago.

Net earnings attributable to shareholders of the company were C$434 million, compared with C$345 million a year ago.

Adjusted earnings were C$1.59 a share. According to FactSet, analysts were expecting C$1.47 a share.

Revenue for the quarter rose to C$16.05 billion from C$15.67 billion.

Same-store sales for the company's drug retail segment, Shoppers Drug Mart, increased by 4.4%, with pharmacy sales growth of 4.8% and front store growth of 4.1% on the same metric.

Loblaw, the company's food retail segment, had a same-store sales increase of 0.2% in the quarter.

"Seasonal shopping for back-to-school and Thanksgiving was robust, demonstrating an enthusiastic return to certain pre-pandemic routines," President and Chairman Galen Weston said. "This was also evident in our pharmacy businesses. Beauty sales climbed with the gradual return to social and work activities. In addition, drug sales grew, supported by demand for pharmacy services, including patient health consultations, vaccination administration and testing."

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

11-17-21 0710ET