Restructuring Sinks Loblaw Earnings; Sales Up

TORONTO Aggressive price investment is sparking sales increases for Loblaw Cos., but the growth is coming at a price, and difficult times lay ahead, officials of Loblaw, based here, said last week. Overall sales grew by 3.5%, and same-store sales increased by 4.2%, during Loblaw's fiscal second quarter, which ended June 16. But operating margins were down sharply from the same period a year ago, and

TORONTO — Aggressive price investment is sparking sales increases for Loblaw Cos., but the growth is coming at a price, and difficult times lay ahead, officials of Loblaw, based here, said last week.

Overall sales grew by 3.5%, and same-store sales increased by 4.2%, during Loblaw's fiscal second quarter, which ended June 16. But operating margins were down sharply from the same period a year ago, and earnings fell by 39.4% as the company held the line on prices despite cost in

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