April 29 (Reuters) - Loblaw Companies Ltd L.TO :
* LOBLAW REPORTS 2020 FIRST QUARTER RESULTS(1)
* QTRLY REVENUE $11.80 BILLION, UP 10.7%
* Q1 ADJUSTED EARNINGS PER SHARE C$0.97
* Q1 EARNINGS PER SHARE C$0.66
* QTRLY FOOD SAME-STORE SALES GROWTH WAS POSITIVELY IMPACTED BY COVID-19
* QTRLY FOOD RETAIL SAME-STORE SALES GROWTH WAS 9.6% VERSUS 2.0%
* QTRLY DRUG RETAIL SAME-STORE SALES GROWTH WAS 10.7% VERSUS 2.2%
* QTRLY DRUG SAME-STORE SALES GROWTH POSITIVELY IMPACTED BY COVID-19
* LOBLAW COMPANIES - EXPECT CONSUMER BEHAVIOR, RESULTING IMPACT ON SALES AND PRODUCT MIX, COST OF OPERATING BUSINESS, WILL CONTINUE TO BE VOLATILE
* HAS WITHDRAWN ITS 2020 OUTLOOK
* LOBLAW COMPANIES - LATE IN Q1, EXPERIENCED UNPRECEDENTED CONSUMER DEMAND, STOCKPILING RELATING TO COVID-19, WITH SALES SURGING IN FINAL 2 WEEKS OF MARCH
* FOLLOWING INITIAL SURGE IN MARCH, DEMAND HAS MODERATED