date:Nov 14, 2013
Two big Canadian grocers reported steep declines in quarterly profit on Wednesday in the face of escalating competition from the likes of Wal-Mart Stores Inc and Target Corp, a new entrant to the Canadian market.
Loblaw Cos Ltd, Canada's largest grocer, reported a 29 percent decline in profit for the September quarter and lowered its earnings outlook, while smaller rival Metro Inc reported a larger-than-expected 40 percent drop in profit.
The outlook is still very competitive. People are chasi