Loblaw Q2 profit jumps to $387M amid higher drugstore, discount store sales
Revenues were $12.85 billion, an increase of $356 million or 2.9 per cent compared with $12.49 billion in the prior year quarter.Food same-store sales increased 0.9 per cent and pharmacy same-store sales increased 5.6 per cent.Galen G. Weston, Loblaw chairman and president, says customers recognized the value, quality and convenience of the company’s diverse store formats, store brands such as No Name and the PC Optimum loyalty program.
“In the quarter we also continued to pursue our strategic growth agenda, with the completion of our acquisition of Lifemark Health Group, bolstering our healthcare services offering and furthering our purpose to help Canadians Live Life Well.”
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