TORONTO, Feb. 1 /CNW/ - On January 1, 2011, George Weston Limited ("Weston") and Loblaw Companies Limited ("Loblaw"), along with all publicly accountable companies in Canada, adopted International Financial Reporting Standards (IFRS). IFRS are a set of accounting standards, developed by the International Accounting Standards Board (IASB), that are becoming the global standard for the presentation of public company financial statements.
Weston and Loblaw will be hosting a joint session for users of their consolidated financial statements on March 3, 2011 at 2 p.m. to discuss the main changes and impacts that the transition to IFRS will have on their consolidated financial statements and notes to the consolidated financial statements. A live question-and-answer session with equity analysts will follow the discussion.
To access via tele-conference please dial (647) 427-7450. The playback will be made available two hours after the event at (416) 849-0833, access code: 40977519.
Access to audio webcast and presentation materials will be available in the "Investor Zone" section of www.loblaw.ca. Pre-registration for audio webcast will be available.
About George Weston Limited
George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America's largest food processing and distribution groups. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. The Weston Foods operating segment is primarily engaged in the baking industry within North America. Loblaw is Canada's largest food distributor and a leading provider of general merchandise, drugstore and financial products and services.
About Loblaw Companies Limited
Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada's largest food distributor and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ over 138,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada's strongest control (private) label program, including the unique President's Choice® no name® and Joe Fresh Style® brands. In addition, the Company makes available to consumers President's Choice financial services and offers the PC points loyalty program.