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

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

(Corrects to say company posted lower, not higher, profit)

* 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below