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 ...
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