MONTREAL -- Provigo, Canada's third-largest supermarket chain, said second-quarter profit rose 5.3%, thanks to a new emphasis on less expensive fresh products and meals.
C convenience store chain. Canadian figures are based on $1 Canadian equals 65 cents U.S.
Sales remained virtually unchanged at $1.1 billion. The company said the new Provigo and Loeb supermarket concept, with a focus on fresh products and meals, produced excellent results in the quarter. The company also credited improved figures to a discount stores' program launched in May, which guarantees the lowest-priced basket of quality fresh food.
Provigo said it would accelerate renovation of its Provigo and Loeb stores, and convert 30 units to the new concept by the end of January. The improvements are part of a $63.7 million plan to renovate 95 stores in a two-year period.
