Second-quarter retail segment sales for Loblaw Cos. Ltd. were roughly $10.9 billion, up about 2.9% from the second quarter of 2018.
Food retail sales were approximately $7.86 billion, and food retail same-store sales growth was 0.6%, down from 0.8% in 2018.
“We delivered on our financial plan in the quarter,” Galen Weston, executive chairman of Loblaw, said in a news release. “We have a long-term approach to investing and to building customer loyalty, and we remain committed to our strategy.”
In addition to financial details, Loblaw provided an update on its multi-year plan, initiated in 2018, for improving processes and efficiency.
“The plan focuses on improving processes and generating efficiencies across administrative, store and distribution network infrastructure,” Loblaw wrote in the release. “Many initiatives are underway to reduce the complexity and costs associated with business operations with the aim to achieve a low-cost operating structure that allows for continued investments in the company’s strategic growth areas.
“Expenses related to these initiatives will be incurred in 2019 and beyond,” Loblaw wrote. “In the second quarter of 2019, the company recorded approximately $16 million of restructuring and other related charges, primarily related to process and efficiency initiatives ($28 million year-to-date).”