February 23, 2012 / 1:17 PM / 6 years ago

Loblaw earnings rise on lower interest, taxes

TORONTO Feb 23 (Reuters) - Loblaw Cos Ltd, Canada’s No.1 grocery store operator, reported slightly higher quarterly profits on Thursday, helped by lower interest expenses and a decline in its effective tax rate.

Net earnings for the quarter ended Dec. 31 rose to C$174 million ($174.1 million), or 60 Canadian cents a share, from C$165 milllion, or 58 Canadian cents, a year earlier.

Revenue rose 3.6 percent to C$7.37 billion. Sales at established stores, a key measure for retailers, rose 2.5 percent.

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