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Company News

Loblaw second-quarter profit falls 2.4%

July 24 (Reuters) - Loblaw Companies Ltd reported a 2.4% fall in quarterly profit on Wednesday, as the Canadian food retailer continues to invest in building its e-commerce network and for promotions.

Net profit attributable to common shareholders fell to C$289 million ($219.9 million) in the second quarter ended June 15, from C$296 million a year earlier. ($1 = 1.3141 Canadian dollars) (Reporting by Arundhati Sarkar in Bengaluru; Editing by James Emmanuel)

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