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.