TORONTO — Loblaw Cos. officials here last week recapped events of a tumultuous fiscal 2007 and faced questions about 2008 as its complex turnaround slowly proceeds. The retailer reported lower-than-expected earnings and reduced gross margins in the fourth quarter, which ended Dec. 30, as price investments continued in its discount and superstore formats. But those investments also resulted in volume and same-store sales increases, giving officials confidence that Loblaw's strategy was ...

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