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## SELECTED ANNUAL INFORMATION 

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Corporation sales were $ 11,590.4 million in 2014 , up 1.7 % from 2013 sales. Sales for 2013 were $ 11,399.9 million, down 2.4 % from $ 11,674.9 million in 2012 . Excluding the 53 $^{rd}$ week in fiscal 2012, fiscal 2013 sales were down 0.5 %. After slowing slightly in the first two quarters of 2014, our sales improved in the second half of the year. Through disciplined investing, we lowered our retail prices to protect our market share and have seen encouraging sales momentum across all our banners. In 2013, fierce competition, especially in Ontario, impacted sales in our last two quarters due to an accelerated increase in competitive square footage. The absence of inflation in the food basket, the increase o f promotional sales, the closure of a few unprofitable stores and temporary ef ficiency dif ficulties following the implementation of a new management system in our pharmaceutical warehouse also brought our sales down. Fiscal 2012 sales were af fected by modest inflation that was lower than the Consumer Price Index reported by Statistics Canada. Adonis stores and distributor Phoenicia, acquired that fiscal year, contributed $236.6 million to 2012 sales. 

Net earnings for fiscal 2014 reached $ 456.2 million, down 35.2 % from the previous fiscal year . Net earnings for fiscal 2013 were $703.9 million, up 47.1% from $478.4 million in fiscal 2012. Fully diluted net earnings per share were $5.07 in 2014 , a decrease of 30.4 % from the previous year . Fully diluted net earnings per share for 2013 were $ 7.28  versus $ 4.73 in fiscal 2012, an increase of 53.9%. 

In the first quarter of fiscal 2013, we discontinued our foodservice operation and disposed of the Distagro division which supplied restaurant chains and convenience stores belonging to and operated by gas station chains. In fiscal 2013, we recorded net earnings of $6.2 million due chiefly to the gain on disposal versus net loss of $0.9 million in fiscal 2012. 

Net earnings from continuing operations for fiscal 2014 were $456.2 million, down 34.6% from the previous fiscal year. Net earnings from continuing operations for fiscal 2013 were $ 697.7 million versus $ 479.3 million in fiscal 2012 , an increase of 45.6%. Fully diluted net earnings per share from continuing operations were $5.07 in fiscal 2014, a decrease of 29.8 % from the previous year . Fully diluted net earnings per share from continuing operations were $ 7.22  in fiscal 2013 versus $4.74in fiscal 2012, an increase of 52.3%. 

