Wednesday, May 5, 2021

Loblaw sales flat line, profits up by 30 per cent

Loblaw sales have flat-lined, but remain much higher than before COVID-19 hit. It also sells under the Zehr's banner.

First-quarter revenues were  $11.9-billion, compared with $11.8 billion for the same quarter last year.

In the first quarter last year, as concerns over COVID-19 grew, Canadians stockpiling groceries boosted Loblaw’s sales by $751-million just in the first few weeks of March.

The company reported net earnings available to common shareholders of $313-million, up by 30.4 per cent from the same period last year.