WINNIPEG, Manitoba, April 10, 2024 (GLOBE NEWSWIRE) -- (TSX:NWC): The North West Company Inc. (the "Company" or "North West") today announced its unaudited financial results for the fourth quarter ended January 31, 2024 and released its 2023 Annual Report and Annual Information Form. The Annual Report includes the Company's Annual Audited Consolidated Financial Statements and Management's Discussion and Analysis for the year ended January 31, 2024. These documents are available on the Company's profile on the SEDAR+ website at www.sedarplus.com and on the Company's website at www.northwest.ca. It also announced that the Board of Directors has declared a dividend of $0.39 per share to be paid on April 29, 2024 to shareholders of record on April 18, 2024. CEO Comments on Fourth Quarter Results and Annual Results "The results in the quarter reflect continued momentum in our Canadian Operations," said President & CEO Dan McConnell. "Overall, I am pleased with the results for the year considering the impact of lower income support payments for customers in our International Operations and the wildfires in Canada and I am encouraged by the progress we are making from our focus on operational excellence." Fourth Quarter and Annual Results The following table provides a summary of selected information for the 2023 fourth quarter and annual results. Further information on the fourth quarter and annual financial performance is provided in the 2023 Annual Report available on the Company's website at www.northwest.ca or on SEDAR+ at www.sedarplus.com. Selected Fourth Quarter(3) and Annual Information     Three Months   Three Months   Twelve Months   Twelve Months     Ended   Ended   Ended   Ended ($ in thousands, except per share)   January 31, 2024   January 31, 2023   January 31, 2024   January 31, 2023 Sales   $ 643,109     $ 635,164     $ 2,471,678     $ 2,352,760   Same store sales % increase/(decrease)(2)     1.4 %     2.1 %     2.9 %     (0.8 )% Gross profit   $ 214,692     $ 201,177     $ 809,419     $ 747,915   Selling, operating and administrative expenses     (162,995 )     (153,353 )     (613,522 )     (567,610 ) EBITDA(1)     79,136       73,460       301,173       278,678   Earnings from operations     51,697       47,824       195,897       180,305   Interest expense     (4,894 )     (4,192 )     (19,051 )     (14,836 ) Income taxes     (10,792 )     (8,503 )     (42,555 )     (39,633 ) Net earnings     36,011       35,129       134,291       125,836   Net earnings attributable to shareholders of the Company     34,492       33,930       129,391       122,190   Net earnings per share – basic     0.72       0.71       2.71       2.55   Net earnings per share – diluted     0.71       0.69       2.67       2.51   Cash flow from operating activities     90,481       100,230       230,427       182,838   Cash flow used in investing activities     (41,606 )     (51,907 )     (107,701 )     (106,802 ) Cash flow used in financing activities     (66,916 )     (38,500 )     (128,270 )     (68,298 )