Loblaw profit falls on restructuring charge
Feb 21 (Reuters) - Loblaw Cos Ltd, Canada's largest grocer, posted an 18 percent fall in fourth-quarter profit on a restructuring charge.
Net earnings fell to C$143 million ($141 million), or 48 Canadian cents per share, from C$174 million, or 60 Canadian cents per share, a year earlier.
Sales at the company, majority-owned by George Weston Ltd , rose marginally to C$7.47 billion.
Loblaw said in October that it planned to cut about 700 head office and administrative jobs.
The company said on Thursday it took a related C$61 million restructuring charge in the fourth quarter.
- Obama condemns killing of reporter, U.S. hits militants in Iraq |
- Gaza war rages on, Hamas says Israel tried to kill its military chief |
- Four beheaded corpses found in Egypt's Sinai: security sources
- Father of Texas 'affluenza' teen arrested for impersonating police officer
- U.S. attorney general visits Missouri town for meetings on fatal shooting