Loblaw Posts Q2 Gains


Wed. July 24th, 2013 - by Whit Grebitus

<p>Loblaw’s has reported revenue of $7,520 million in a favorable unaudited second quarter financial report.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Revenue increased by 2% from $7.37-billion during last year’s period and same-store sales grew by 1.1%.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Net earnings rose as well, climbing 14.5% from $156-million to $178-million. EBITDA also rose from 6.4% to 6.8%<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"We are also pleased with our progress during this quarter. The investments we have made to advance our customer proposition once again translated into improved same-store sales performance in an intense competitive environment," said Galen G. Weston , Executive Chairman, Loblaw Companies Limited."At the same time, better mix and good expense management delivered improved earnings. To reflect our year-to-date performance, we are raising our outlook to expect mid-single digit operating income growth for fiscal 2013.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.loblaw.ca/English/Media-Centre/news-releases/news-release-details/2013/Loblaw-Companies-Limited-Reports-2013-Second-Quarter-Results1/default.aspx" target="_new">Loblaw</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">