Loblaw profit falls on restructuring charge
Feb 21 (Reuters) - Loblaw Cos Ltd, Canada's largest grocer, posted an 18 percent fall in fourth-quarter profit on a restructuring charge.
Net earnings fell to C$143 million ($141 million), or 48 Canadian cents per share, from C$174 million, or 60 Canadian cents per share, a year earlier.
Sales at the company, majority-owned by George Weston Ltd , rose marginally to C$7.47 billion.
Loblaw said in October that it planned to cut about 700 head office and administrative jobs.
The company said on Thursday it took a related C$61 million restructuring charge in the fourth quarter.
© Thomson Reuters 2016 All rights reserved.