Loblaw Companies (TSE:L) has released an update.
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Loblaw Companies Limited reported a 1.5% increase in revenue to $13.947 billion in the second quarter of 2024, despite a 10% decrease in net earnings primarily due to a settlement of a bread price-fixing lawsuit. The company saw a growth in e-commerce sales by 14.2% and continued strength in Drug Retail sales over Food Retail, with customers being drawn to Loblaw’s value offerings and private label brands.
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