Loblaw Takes Impairment Charge for 1998 Acquisition

BRAMPTON, Ontario -- Loblaw Cos. here said yesterday it will take a goodwill impairment charge related to its 1998 acquisition of Provigo Inc., of about $500 million to $760 million (U.S.) -- for the year that ended Dec. 30, 2006.

BRAMPTON, Ontario -- Loblaw Cos. here said yesterday it will take a goodwill impairment charge related to its 1998 acquisition of Provigo Inc., of about $500 million to $760 million (U.S.) -- for the year that ended Dec. 30, 2006. The company said the decision to take the writedown followed its annual goodwill impairment test analysis, although it did not explain, during a conference call with analysts, why it had taken so long to book the charge. According to one Canadian an

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