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Loblaw Q2 Earnings up 11.9% YoY

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Loblaw Companies (L.TO) said Thursday that Q2 net earnings, stripped of most one-time expenses, jumped 11.9% to C$0.66 per share, from C$0.59 per share.

Analysts polled by FactSet had forecast C$0.65 per share.

Retail revenue increased 4.1% to C$15.05 billion, over the same period, just below analysts expectation of C$15.07 billion. Loblaw reported drug retail sales increased 4.6%, while food retail edged up 1.6%.

Loblaw will pay a regular quarterly dividend of C$0.155 per share on Oct. 1, to shareholders of record on Sept. 15.

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