Maximize your media exposure with our single PR package
Canadian retailer Loblaw posts Q2 FY21 sales of $12.5 bn
02 Aug 21 1 min read
Loblaw Companies Ltd, a Canadian food retailer (also retails apparel brands), reported 4.5 per cent sales increase to $12.5 billion (Canadian dollars) in its second quarter (Q2) FY21 ended on June 19, 2021, compared to $11.9 billion in the same period of previous fiscal. Net earnings for Q2 FY21 rose to $378 million (Q2 FY20: $172 million).
Advertisement
“In the second quarter, Loblaw delivered strong financial performance while lapping the heightened sales and significant Covid-related costs experienced at the beginning of the pandemic,” Galen Weston, president and chairman at Loblaw Companies Limited, said in a press release.
Due to the lapping of the high penetration rates in Q2 FY21, the company’s e-commerce sales slipped 0.5 per cent compared to 280 per cent growth in Q2 FY20. However, operating income surged to $752 million ($404 million).
“We maintained our focus on delivering value and quality to Canadians while providing a safe shopping experience, and are well-positioned to meet the evolving needs of customers as the pandemic restrictions begin to lift,” Weston added.
Fibre2Fashion News Desk (JL)
Popular News
|
|
Sri Lanka's garment exports ease 1.1% to $1,145 mn in Jan-Mar 2024 |
|
|
ICE cotton faces heavy selling; prices drop despite positive factors |
|
|
Cotton yarn market bearish in north India; prices down in Ludhiana |
|
|
Cotton yarn prices down in Delhi, sentiments weak in north India |
|
|
European fashion giants post diverse regional performance in Q1 FY24 |
|
|
NCTO outlines steps for US to reverse fall in textile manufacturing |
