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Canada's Loblaw beats quarterly revenue estimates

Reuters · 11/16/2022 06:35
Canada's Loblaw beats quarterly revenue estimates

- Canadian retailer Loblaw Cos Ltd L.TO surpassed Wall Street estimates for third-quarter revenue on Wednesday as groceries and drugs continued to see robust demand despite higher prices.

Total revenue rose to C$17.39 billion ($13.14 billion) in the quarter ended Oct. 8, from C$16.05 billion a year earlier. That beat analysts' estimates of C$16.85 billion, according to IBES data from Refinitiv.

($1 = 1.3246 Canadian dollars)


(Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Devika Syamnath)

((Aatrayee.Chatterjee@thomsonreuters.com;))