TORONTO — Aggressive price investments hacked deeply into profits at Loblaw here during the fiscal third quarter, the retailer said last week. The pricing actions sparked an overall sales increase of 1.4% and comparable-store increases of 2.8%, but helped to send operating income down by 37.8%, EBITDA by 16.1% and earnings per share by 45.9% during the 16-week quarter that ended Oct. 7. Adjusted earnings of 56 Canadian cents per share were far below analyst expectations of 77 cents. “This ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.