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Executives cite top-line pressure as Canadian grocer laps pandemic-fueled increases last year Gains in both the food and drug channels lifted retail sales for Loblaw Cos. in its fiscal 2021 second quarter, and per-share earnings exceeded analysts’ forecast. Loblaw said Wednesday that retail sales in the 12-week quarter ended June 19 totaled $12.28 billion (Canadian), up 4.4% from $11.77 billion a year earlier.  Food retail sales edged up 1.5% to $8.88 billion from $8.75 billion a year ago, though same-store sales were virtually flat, down 0.1%. The comparable-store dip followed a 10% gain in the fiscal 2020 quarter, which was fueled by pandemic-driven consumer demand, Loblaw noted, adding that its two-year food retail sales compound annual growth rate (CAGR) was 6.3%. Basket size was down and traffic was up on a comparable basis for the quarter.

Galen westonMart pharmaprixRichard dufresneRichard dufresne loblawLoblaw cosShoppers drug martGeorge weston ltdChief financial officer richard dufresneDrug martPresident galen westonGeorge westonகேலன் வெஸ்டன்ரிச்சர்ட் தூப்ரேஸ்னேலோப்லா கோஸ்கடைக்காரர்கள் மருந்து மார்ட்ஜார்ஜ் வெஸ்டன் லிமிடெட்