Canadian grocery chain Loblaw has reported a 22% increase in quarterly profit, while its supermarket sales increased 9%.

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Loblaw, which operates supermarkets under the Provigo and Loblaws banners, posted second-quarter earnings of C$182m (US$130.3m), or 65 Canadian cents a share, compared to $149m, or 54 cents a share, in the year-ago period. Analysts polled by Reuters had expected, on average, 64 cents a share.


Revenue rose 9.2% to $5.8bn from $5.3bn in the year-ago period, while same-store sales rose 5.8%.


Loblaw, which is controlled by Canadian food processor George Weston, has a 38% Canadian market share.


Loblaw said it opened 12 corporate and franchised stores during the quarter but closed eight stores.

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