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Price Investments Boost Sales, Weaken Earnings at Loblaw

TORONTO — Lower prices helped Loblaw Cos. here boost sales during its fiscal first quarter, but accompanying lower margins — along with restructuring costs related to employee severance and other cost-cutting measures — led to a net earnings decline of 61.4% for the quarter ended March 24, the company here said yesterday. Net earnings totaled $48.8 million (U.S.), or 20 cents (Canadian) a share. Sales of $5.8 billion (U.S.) increased 3.3% for the 12-week quarter, with same

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