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Loblaw reports increased sales, earnings in 3Q

Loblaw on Wednesday said third-quarter earnings were up by 16.9% on increased sales in its food and drug divisions.

Sales for period, which ended Oct. 10, totaled $10.5 billion (U.S.), an increase of 2.6% from the same period last year. Net earnings totaled $124.7 million (U.S.).

Same store sales in food increased by 3.1% and by 4.5% in drugstores, Loblaw said.

In a conference call discussing results, Galen Weston, executive chairman of the Brampton, Ontario, company, said a nascent “cick-and-collect” offering in stores has proven “very popular” with customers and will be available in 40 stores by yearend.

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