Market News
14May2008 |
George Weston Profit Up After Loblaw Cuts CostsGeorge Weston Ltd.'s first- quarter profit rose 26% after its Loblaw food unit reduced expenses. Net income climbed to $131 million in the period through March 22 from $104 million a year earlier. Sales rose to $7.34 billion from $7.22 billion. Weston's Loblaw Cos. Ltd. reported earnings gained for the second consecutive quarter as restructuring costs decreased. Weston's bakery unit closed inefficient bakeries and raised prices as costs for flour advanced and it developed whole-wheat breads. http://www.bloomberg.com/apps/news?pid=20601082&sid=ar5VljSdwDLM&refer=canada Source: Canadian Grocer, E-Newsletter, May 14, 2008 
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