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Grocery and drugstore retailer Loblaw reports Q4 profit and revenue up from year ago

  • Loblaw reported a rise in profit and sales in the fourth quarter compared to the previous year. They earned $541 million or $1.72 per diluted share.
  • Same-Store sales for food retail increased by 2.0% and drug retail increased by 4.6%. Front store sales grew 1.7%, while pharmacy and health-care services sales grew 8.0%.
  • Loblaw expects its retail business to grow earnings faster than sales in 2024, with adjusted net earnings per common share in the high single-digits.
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