Loblaw to close 52 stores; Q2 results up

Loblaw to close 52 stores; Q2 results up

Loblaw said Thursday it would close 52 money-losing stores over the next 12 months.

The stores represent around $300 million (Canadian) in annual sales but their closure will result in a favorable impact to operating income of approximately $35 million to $40 million.

The Brampton, Ontario-based retailer announced the pending closures Thursday while reviewing financial results for the fiscal second quarter ended

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