Loblaw Sees Profits Improve in Q1; Comps Rise 0.3%

Loblaw Cos. here said it eked out a same-store sales gain of 0.3% in the first quarter, and profits improved for the period on reduced costs, improved productivity and other factors. The company, the largest supermarket operator in Canada, posted net income of about $135 million (U.S.), a gain of 25.7%, on sales of $6.8 billion, up 3.1%, compared with the year-ago first quarter. Loblaw said

TORONTO — Loblaw Cos. here said it eked out a same-store sales gain of 0.3% in the first quarter, and profits improved for the period on reduced costs, improved productivity and other factors.

The company, the largest supermarket operator in Canada, posted net income of about $135 million (U.S.), a gain of 25.7%, on sales of $6.8 billion, up 3.1%, compared with the year-ago first quarter.

Loblaw said tonnage was about even with a year ago, but it saw increases in transa

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