May 3 Canadian grocery and pharmacy retailer
Loblaw Cos Ltd reported a 19.2 percent rise in quarterly
profit, helped by lower expenses and as discounting attracted
more customers to its stores.
Net earnings available to common shareholders rose to C$230
million ($168 million), or 57 Canadian cents per share, in the
first quarter ended March 25, from C$193 million, or 47 Canadian
cents per share, a year earlier.
The latest quarter also included a gain of C$11 million, or
2 Canadian cents per share.
Revenue rose marginally to C$10.40 billion from C$10.38
billion last year.
($1 = 1.3730 Canadian dollars)
(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb