Canada’s Loblaw beats estimates for quarterly revenue By Reuters

(Reuters) – Canadian retailer Loblaw Cos Ltd beat market estimates for quarterly revenue on Thursday, as demand for groceries and other essential items stayed strong.

Total revenue fell to C$12.76 billion ($9.94 billion) in the fourth quarter ended Jan. 1, from C$13.29 billion a year earlier, but came ahead of analysts’ estimates of C$12.64 billion, according to IBES data from Refinitiv.

($1 = 1.2843 Canadian dollars)

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