Loblaw reports strong third-quarter sales

As grocery retailers take criticism for high profits amidst an inflationary economy, George Weston Ltd. has released its third-quarter results. Its Loblaw business reported Loblaw revenue of $18.27 billion, an increase of $877 million, or five percent, over the same period in 2022. The company attributed the rise to an increase in retail sales and in financial services revenue. Loblaw’s retail sales were $17.98 billion, up $852 million, or five percent. Food retail same-store sales growth was 4.5 percent.