Newspaper article The Canadian Press

Loblaw Companies Ltd. Reports Third-Quarter Profit and Revenue Up from Year Ago

Newspaper article The Canadian Press

Loblaw Companies Ltd. Reports Third-Quarter Profit and Revenue Up from Year Ago

Article excerpt

Loblaw reports Q3 profit up from year ago

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BRAMPTON, Ont. - Loblaw Companies Ltd. (TSX:L) says it earned $166 million in its latest quarter, up nearly 17 per cent from a year ago.

The retailer, which includes the Loblaw and Shoppers Drug Mart banners, says the profit amounted to 40 cents per share for the quarter ended Oct. 10.

That was up from a profit attributable to common shareholders of $142 million or 34 cents per share a year ago.

Revenue for the 16-week period totalled $13.95 billion, up from $13.60 billion.

On an adjusted basis, the company says it earned $408 million or 99 cents per share in what was its third quarter.

That was up from $371 million or 90 cents per share a year ago.

Same-store sales growth for the company's food business was 3.1 per cent, excluding its gas bar and the negative impact of a change in distribution model by a tobacco supplier. …

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