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Loblaw testing small-store format
New York -- Loblaw Cos., Canada's largest grocer, is testing a small-store discount under the Box by No Frills banner.
The company debuted the concept in Calgary, in a 10,000-sq.-ft. store. The store everyday low price" on groceries and other merchandise, Sarah Davis, Loblaw's CFO said in a conference call Wednesday, The Canadian Press reported.
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Kroger remains model of consistency
Kroger trounced first quarter sales and profit forecasts, posting a 3.3% gain in identical store sales that drove a 92 cent a share profit.
Total sales increased 3.4% to $30 billion and the 3.3% gain in identical store sales was well ahead of analysts’ forecast of 2.8% growth. It was the company’s 38th consecutive quarter of positive identical store sales growth. Net income increased 9.6% to $481 million which translated to per share profit of 92 cents that was four cents better than the 88 cents analysts’ forecast.