TORONTO -- Loblaw Cos. here said last week it has a positive outlook for the remainder of the year.
it to continue to finance a $650 million ($1 billion Canadian) capital investment program.
The company said sales for the 12-week second quarter and 24-week first half, both ended June 16, rose 4.8% to $3.3 billion and 5.1% to $6.2 billion, respectively.
For the quarter, net income rose 21.1% to $74.8 million, earnings per share were 27 cents compared with 22 cents for the previous second quarter, and same-store sales increased 4%.
For the half, net income rose 20.1% to $135.2 million and earnings per share were 49 cents compared with the previous first half's 40 cents.