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North West sees Q4 jump in sales

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The North West Company has reported a 4.2 per cent jump in sales and a 2.2 per cent increase in profit for the final three months of its 2013-14 fiscal year.

The Winnipeg-based retail chain said sales for the three months that ended on Jan. 31 climbed to $402.9 million from $386.6 million in the fourth quarter of the previous fiscal year.

Net earnings for the quarter rose to $15.9 million from $15.5 million, while diluted earnings per share was unchanged at 32 cents.

"Our international performance reflects gains we have made in reducing product costs and a general improvement in economic conditions," said Edward Kennedy, the company’s president and CEO.

"In Canada, the retail market continues to be more challenged and we are responding with more innovation in getting sales and in building our store network capability."

North West operates a total of 226 stores under the Northern, NorthMart and Giant Tiger banners in Canada, AC Value Center in Alaska, and Cost-U-Less in the South Pacific and Caribbean.

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