Loblaw revenue, food sales climb amid store expansion

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeRetail & MarketingLoblaw revenue, food sales climb amid store expansionLoblaw opened a total of 14 stores in the quarter, including seven hard discount storesLast updated 12 minutes ago You can save this article by registering for free here. Or sign-in if you have an account.The company said its discount banners outperformed again in the second quarter, reflecting continued consumer demand for value and greater access to Maxi and No Frills stores. Photo by Jean Levac/Ottawa CitizenLoblaw Cos. Ltd. reported a total revenue of $15.27 billion in the second quarter, up 4.1 per cent from the same period last year.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIts net earnings increased 5.2 per cent to $751 million in the quarter ended June 20, and diluted net earnings was up 8.5 per cent to $0.64 per share. On an adjusted basis, net earnings were $774 million, up 8.6 per cent, and adjusted diluted net earnings were $0.66 per share, up 11.9 per cent.“We are investing in new stores and growth as we make everyday essentials and healthcare more accessible while continuing to deliver strong financial results,” chief executive Per Bank said in a press release.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againLoblaw said it opened a total of 14 stores in the quarter, including seven hard discount stores, three drug stores and the first T&T location in California.Food retail sales grew 3.3 per cent to $10.6 billion, which Loblaw said was due to higher customer traffic and basket size, and e-commerce sales growth.The company said its discount banners outperformed again in the second quarter, reflecting continued consumer demand for value and greater access to Maxi and No Frills stores.Drug retail sales were up 6.1 per cent to $4.43 billion, driven by continued strength in specialty and chronic prescriptions, as well as the beauty and over-the-counter categories.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.