• Linkdin
Coats Webinar
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Canadian retailer Loblaw posts Q2 FY21 sales of $12.5 bn

02 Aug '21
1 min read
Pic: Loblaw Companies/ Joe Fresh
Pic: Loblaw Companies/ Joe Fresh

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).
 
“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)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search