Loblaw Cos. Ltd. reported its third-quarter profit and revenue rose compared with a year ago, as it said its discount stores saw higher traffic during the quarter.
Loblaw Cos. Ltd. reported a rise in profit and revenue for the third quarter, with its discount stores experiencing higher traffic. The company's profit available to common shareholders was $621 million or $1.95 per diluted share, compared to $556 million or $1.69 per diluted share in the same quarter last year. Revenue for the quarter reached $18.27 billion, up from $17.39 billion. Food retail same-store sales increased by 4.5%, while drug retail same-store sales grew by 4.6%.
On an adjusted basis, Loblaw earned $2.26 per diluted share
Loblaw Profit Revenue Q3 Quarter Traffic Discount Stores Same-Store Sales
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bad Boy Furniture Warehouse Ltd. Faces Bankruptcy Amid Slow SalesFamed Greater Toronto Area retailer Bad Boy Furniture Warehouse Ltd. is attempting to restructure its business under the Bankruptcy and Insolvency Act due to higher interest rates and slow home sales. The business, started by Mel Lastman and revived by his son, has been hit hard after 70 years of operation.
Read more »
Loblaw Raises Concerns Over Grocery Code of ConductLoblaw Companies Ltd. has expressed concerns that the grocery code of conduct could raise food prices for Canadians by more than $1 billion. The company cannot endorse the code in its current form and has requested a special meeting to address its concerns.
Read more »
Bad Boy Furniture Warehouse Ltd. to Restructure Business Amid Challenging Economic EnvironmentA storied Greater Toronto Area furniture brand founded by a former city mayor and popularized with television and radio ads proclaiming "nooobody" could beat its prices is aiming to restructure its business due to challenging economic conditions.
Read more »
Dye & Durham shares up after launching strategic review of non-core assetsTORONTO — Shares of Dye & Durham Ltd. were up more than 10 per cent in early trading after the company announced Monday that it has launched a strategic review of its non-core assets in an effort to reduce its debt.
Read more »
Canadian Government to Review Glencore's Acquisition of Teck's Elk Valley ResourcesThe Canadian government will carefully review Glencore's acquisition of Teck's Elk Valley Resources Ltd. to ensure it benefits Canada and passes a national security test. The government will consider factors such as Canadian jobs, a Canadian headquarters, environmental concerns, and the rights of Indigenous people.
Read more »
Bad Boy Furniture Retailer Faces Financial Crisis and Plans RestructuringBad Boy Furniture Warehouse Ltd., founded by former Toronto mayor Mel Lastman, is experiencing financial difficulties and intends to restructure the business due to owed money to vendors and challenges in sourcing inventory. Customers who have placed deposits on furniture and appliances will not receive their orders or refunds.
Read more »