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Loblaw stays positive in third quarter
Facing an increasingly competitive retail landscape, Canadian retailer Loblaw Cos. posted a slight lift in retail sales but, due to incremental margin investment in the back half of the year, lowered its earnings growth expectations for 2013.
However, company executives are optimistic as the company remains focused on investing in what it refers to as the “customer proposition” and looks forward to its acquisition of Shoppers Drug Mart.
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Turnaround expert Roland Smith named CEO of Office Depot
New York -- Office Depot Inc. — the new entity created by the merger of Office Depot and OfficeMax — named Roland Smith as CEO, effective immediately. Smith, 59, most recently served as CEO of Delhaize American, a division of Belgian grocery giant Delhaize Group. Prior to that, he was president and CEO of The Wendy's Co., holding company for the Wendy's chain.