Loblaws sees increase in Q2 profit, revenue

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On Wednesday, Canada’s largest grocery chain, Loblaw Companies Ltd, released their report for the second quarter of 2022.

The report showed marked increases in revenue, retail sales, and net earnings.

“Loblaw delivered strong operational and financial results,” the company wrote in a statement, “as it continued to execute on retail excellence in its core businesses, while advancing its growth and efficiencies initiatives.”

They explained that their drug store, Shoppers, “continued to drive overall margin expansion, as sales benefited from growth in higher margin front-store categories. ” Overall, drug retail was up 5.6 percent.

Loblaw chief financial officer Richard Dufresne said cough and cold sales were near where they usually are “in the middle of winter.”  

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