(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)