Loblaw surpasses revenue expectations due to strong demand for essential items.

(Reuters) – Canadian retailer ⁢Loblaw ⁣on ⁣Wednesday exceeded expectations for second-quarter revenue, delivering impressive⁢ results driven by higher prices and sustained demand for groceries and drugs.

The company’s ⁤revenue⁤ surged by 6.9% ‍to C$13.74 billion ($10.40 billion) in the quarter ended June 17, surpassing analysts’ average estimate of ‌C$13.63 billion, according to Refinitiv data.

($1 = 1.3208 Canadian dollars)

​ (Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar and Shounak Dasgupta)

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