February 24, 2011 / 12:20 PM / 7 years ago

CORRECTED - UPDATE 1-Loblaw profit falls on lower food, drug sales

* EPS C$0.54 vs year-earlier C$0.59

* Revenue falls 2.3 pct, missing expectations

TORONTO, Feb 24 (Reuters) - Loblaw Cos Ltd (L.TO) posted a lower quarterly profit on Thursday, hurt by charges and a drop in food and drugstore sales.

Earnings for the fourth quarter ended Jan. 1 fell to C$151 million, or 54 Canadian cents a share, from C$165 million, or 59 Canadian cents, a year earlier. Analysts were looking for 60 Canadian cents a share.

Revenue fell 2.3 percent to C$7.16 billion, compared with the C$7.33 billion analysts were looking for. (Reporting by S. John Tilak)

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