July 24, 2019 / 2:38 PM / 2 months ago

Loblaw third-qtr profit to be hurt by Thanksgiving timing

July 24 (Reuters) - Canadian grocery retailer Loblaw Cos Ltd said on Wednesday its current-quarter profit and same-store sales would be hurt by the timing of the Thanksgiving holiday this year.

Third-quarter same-store sales are expected to be impacted by about 1% and profit by 3 Canadian cents per share, Chief Financial Officer Darren Myers said on a post-earnings call.

In Canada, Thanksgiving will be celebrated this year on Oct. 14. Last year, the day fell on Oct. 8. (Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)

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