Market News
01Aug2008 |
Loblaw Moves Ahead with 40-store ExpansionLoblaw Cos. Ltd. reported a modest 1.5% increase in sales, but profit rose 18% as Canada's largest grocery-store chain faced reduced restructuring charges during the quarter. The Toronto-based company reported a rise in profit to $140-million, from $119-million in the year-earlier quarter. Loblaw announced in April that it plans to hire an additional 1,000 employees, and Allan Leighton, Loblaw president, said the company is continuing with plans to open 40 new stores under its No Frills discount banner in 2009. ttp://www.nationalpost.com/todays_paper/story.html?id=681288 Source: Canadian Grocer E-Newsletter, August 1, 2008 
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