Loblaw's net income increased by 8.8% during their second fiscal quarter, which ended June 18th. Although the Canadian retailer experienced a 1.4% decrease in same-store sales, Galen Weston, Loblaw's chairman, cited ongoing infrastructure improvements and cost savings as the catalyst for the income boost. Overall sales for the period topped out at $7.7 billion, an increase of 0.2%. Mr. Weston noted that Vincente Prius, Loblaw's new president, will take over for Allen Leighton on August 2nd. He said Mr. Prius quote "understands the strategy, the path that we're on, and he agrees with it, and so we expect this to be a fairly smooth transition."<hr class="legacyRuler"><hr class="invisible minimal-padding">
