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Restructuring Drags Down Loblaw Cos. Q1 Profits
TORONTO -- Mainly due to charges relating to an ongoing restructuring, first quarter earnings at Loblaw Cos., Ltd. here nosedived by CAN $86 million (US $77 million), or 61.4 percent, to CAN $54 million (US $49 million), compared to CAN $140 million (US $126 million) in the year-ago period, the retailer said yesterday. -
Loblaw Names New C.F.O.; Braces for Q4, Year Losses
TORONTO -- Loblaw Cos., Ltd. said yesterday it had appointed William Wells to the position of c.f.o., effective April, 2, 2007. At that time, Richard Mavrinac will step down as e.v.p. of the company. Steve Smith, e.v.p., financial control, will also leave the retailer, effective today.