TORONTO — Loblaw Cos. said it expects net income for fiscal 2012 to be lower than 2011 as it undertakes several investments and focuses on improving its store base. The company said it planned to invest about $1.1 billion (U.S.) in capital expenditures in 2012, including 40% on IT and supply chain and 60% on store renovations and new stores. Loblaw said it expects that “operations will not cover the incremental costs related to the investments in IT and supply chain and its ...

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