Loblaw has reported on a strong third quarter of 2010, with earnings rising to C$213m, or C$0.77 per share, from the C$189m, or C$0.69 per share, it recorded in the same period last year.
Canada's largest grocer, which operates over 1,000 outlets across the country, noted that same-store sales fell 0.4 per cent through the three-month period, while overall sales grew 1.3 per cent to C$9.59bn.
The sales jump was attributed to the acquisition of T&T Supermarkets at the end of the third quarter in 2009, Reuters reported.
Gross profit for the quarter rose 7 per cent to C$2.32bn, or 24.2 per cent as a percentage of sales, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) margin improved to 6.2 per cent from 5.9 per cent.
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