Loblaw Companies Ltd

L: XTSE (CAN)
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Loblaw Earnings: Pharmacy and Discount Formats Offset Slow Food Retail Growth; Shares Overvalued

Loblaw's second-quarter results featured a 4.1% increase in revenue and an 8% jump in adjusted EPS to CAD 0.62. Food retail same-store sales grew 1.6%, while drug retail same-store sales rose 4.6%. Retail gross margin expanded 10 basis points to 32.2% due primarily to improvement in shrinkage.

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