Loblaw Companies on Thursday forecast annual earnings above analysts’ expectations, after the Canadian retailer’s fourth-quarter results beat estimates, helped by strength in its pharmacy business and as demand held up for groceries.
The company says it earned a profit available to common shareholders of $529 million. Its fourth-quarter revenue rose about 10 per cent to $14.01 billion, topping estimates of $13.75 billion.
One industry expert put it bluntly: “This is what collusion looks like”
