Supermarket Giants Report Increased Profits Amid Rising Food Prices

We all know where food prices have been going the past few years. A couple of major supermarkets are out with their profit statements for the quarter just ended, and their bottom line is growing healthier.

Loblaws, the parent company of Dominion and Shoppers Drug Mart, is reporting an increase in profit of almost 12 per cent for the third quarter of the year compared with the same quarter a year ago.

Profits are up at Montreal-based grocer Metro by about 14 per cent.

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