(Reuters) – Canadian retail group Loblaw Cos Ltd reported quarterly revenue below estimates on Wednesday as consumers rein in discretionary spending amid high inflation.
Total second-quarter revenue rose to C$12.85 billion ($9.99 billion) from C$12.49 billion a year earlier. Analysts on average were expecting revenue of C$12.98 billion, according to IBES data from Refinitiv.
($1 = 1.2863 Canadian dollars)
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)
