Loblaw Q3 revenue up 1.4% on better price strategy

BRAMPTON, Ontario - Loblaw Companies on Wednesday posted revenue gains of 1.4% to $10.5 billion.



"We lowered prices and consumers responded," stated Galen Weston, executive chairman and president, Loblaw Companies Limited. "In the third quarter we continued to gain momentum, improving our sales performance, while remaining focused on executing our financial plan."



Same-store sales across Shoppers Drug Mart outlets were up 2.8%, with same-store pharmacy sales increasing by 1.6% and same-store front store sales increasing by 3.9%.