Reported 11 days ago
Loblaw Companies, a major Canadian supermarket retailer, reported that its third-quarter revenue fell short of expectations due to weak demand for non-essential household items and electronics, as consumers reduced discretionary spending despite easing inflation. The company recorded a slight increase in revenue to C$18.54 billion, compared to analyst predictions of C$18.65 billion, and same-store sales in food retail only grew by 0.5%. However, Loblaw's discount brands saw better performance, and its adjusted earnings per share exceeded expectations.
Source: YAHOO