Loblaw Companies Ltd., Toronto symbol L, continues to expand its private-label business. That’s because the company earns higher profits selling private-label merchandise than national brands.
In October 2011, Loblaw is launching a new line of gourmet foods under the President’s Choice Black Label brand. These foods include mustards, condiments, dressings and sauces, biscuits, crackers, nuts and desserts. Products like these should help Loblaw compete with high-end food retailers like U.S.-based Whole Foods, which is now expanding in Canada.
Stock investment advice: Loblaw adds to its stand-alone clothing stores
Loblaw has opened five stand-alone Joe Fresh casual-clothing stores since October 2010. It plans to open five more stores by the end of 2011. It eventually wants to expand the chain to 20 stores.
As well, Loblaw continues to sell Joe Fresh clothing in its supermarkets. That’s helping it compete with general retailers, like Wal-Mart, which have expanded into groceries.
In the quarter ended June 18, 2011, Loblaw’s basic net earnings per share were up 7.7%. Revenue inched up 0.1% over the second quarter a year earlier. Overall sales had a modest increase of 0.2%, with same-store sales declining by 0.4% from the same quarter the year before.
The company’s dividend of $0.84 currently yields 2.3%.
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