Loblaw’s has reported revenue of $7,520 million in a favorable unaudited second quarter financial report.
Revenue increased by 2% from $7.37-billion during last year’s period and same-store sales grew by 1.1%.
Net earnings rose as well, climbing 14.5% from $156-million to $178-million. EBITDA also rose from 6.4% to 6.8%
"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.
