Loblaw expects sales to grow amid high food inflation, pandemic — via financialpost food inflation pandemic
Loblaw — a network of more than 2,400 stores, including Shoppers Drug Mart, No Frills and Real Canadian Superstore — reported a 30.1-per-cent jump in profits during its last quarter, with adjusted net earnings of $515 million beating the previous year by $119 million.
“Loblaw anticipates that in the first half of 2022 sales will benefit from the continued impact of the pandemic and elevated industry-wide inflation,” the company said in a news release, adding that it expects earnings per common share to grow “in the low double digits” in 2022, with higher growth in the first half of the year.
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