Loblaw Companies Ltd. reports Q3 profit and revenue up from year ago

The grocery and drugstore retailer says its net earnings available to common shareholders totalled $556 million or $1.69 per diluted share for the quarter ended Oct. 8. The result was up from $431 million or $1.27 per diluted share in the same quarter last year.Food retail same-stores sales rose 6.9 per cent, while drug store same-store sales added 7.7 per cent.

On an adjusted basis, Loblaw says it earned $2.01 per diluted share, up from an adjusted profit of $1.59 per diluted share a year ago. Analysts on average had expected a profit of $1.96 per share and $16.85 billion in revenue, according to estimates compiled by financial markets data firm Refinitiv.

War is just an excuse to increase gas prices and grocery prices from Saputo to loblaws metro, coop,Safeway all have taken advantage to make profits$ making war as a fake reason

Omg how will loblawco ever survive, those poor poor executives

Wartime profiteering…

So why are they increasing the price of groceries. Nothing more than corporate greed!!! So absolutely disgusting.

Then why are food prices so high? They are taking advantage of the word 'inflation' and sticking it to their customers. Boycott LoblawsON They should not be posting huge profits, they should be helping Canadians survive.

Oooh!! Looks like windfall taxes for you!!

Love it!! Mo money mo top!

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Hmmmmmm how did Trudeau cause that !!

CROOKS

No competition left after climate lockdowns. Plus, Loblaws and other big corporations probably locked in many supply contracts earlier this year at pre inflation prices.

What is the importance of this information? We already know this. Prices keep going up. The next headline,if you’re into the truth, should read,profits up after Q3, on the backs of people. Should call the store Zeros,that’s who owns them.

An increased tax on any Canadian living on fixed income.

It’s almost as if higher prices correlate with profits.

Funny how their profit goes up with the cost of groceries. 🤔

I thought it was “Inflation” that was driving up the cost?

Inflation I guess.

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