Loblaw second-quarter profit soars a year after getting a lift from COVID-19 onset

[ASFN Admin]

TORONTO — Loblaw Companies Ltd. says its second-quarter profit soared on a 4.5 per cent increase in revenues as it marked a year since it posted heightened sales and COVID-related costs from the outset of the pandemic. Canada's largest grocery and pharmacy chain says its net income attributable to common shareholders was $375 million or $1.09 per diluted share, up from $169 million or 47 cents per share a year earlier. Adjusted profits for the three months ended June 19 was $464 million or $1.35

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