L.TO

Cobra

这个你要是看weekly图的话可以看到是个很大的牛旗，所以这里可能是从牛期开始resume uptrend，至少这轮反弹很猛，有的话，持有，没有的话，追不追高，自己决定，但是如果有pullback的话，是buy。

thomast

Thank you, Laoda.
Hope it can re-test the breakout point so as to get loadded.

flovestock

Loblaw profit climbs 22.7%

Globe and Mail Update
Published Wednesday, May. 04, 2011 8:22AM EDT

Loblaw Cos. Ltd. (L-T40.890.842.10%) enjoyed strong profit growth in its first quarter, helped by a strong loonie and internal cost controls, but the retailer grappled with declining sales.

In the 12 weeks ended March 26, Loblaw’s profit rose 22.7 per cent to $162-million or 58 cents a share, while sales slipped 0.6 per cent to $6.87-billion. Same-store sales, which is a key measure in retailing, were about steady in the quarter – down 0.1 per cent.

“The company continues to progress with its renewal plan while it begins to turn its focus on new opportunities for growth,” Galen G. Weston, executive chairman at Loblaw, said in a statement. “We remain focused on executing the plan in an unpredictable and competitively intense market environment. At the same time, we continue to expect our investment in information technology and supply chain infrastructure to negatively impact our operating income in 2011.”

Loblaw is in the final year of a five-year turnaround process in which it is racing to reverse previous decisions. The country’s largest grocer is overhauling its supply chain systems to ensure that goods get to shelves on time, so that customers don’t arrive to empty shelves. And it’s refocusing on its core food and iconic private labels such as President’s Choice, while working to bolster its apparel, health and financial services businesses.

But sales growth in its food business was flat in the first quarter, while drugstore sales declined a little, hurt by new generic drug laws. Sales of its Joe Fresh Style fashions dropped “marginally” because of cooler weather and Easter falling in a later quarter this year from 2010.

On a positive note for the company, it reported higher food pricing in contrast to deflation a year earlier: in its first quarter, it experienced “modest average quarterly internal food price inflation,” although lower than the 2.5 per cent inflation reported by Statistics Canada. In the first quarter of 2010, Loblaw prices deflated, it said.

Its gross retail profit rose to 23 per cent of sales in the first quarter from 22.7 per cent of sales a year ago. The increase was due, among other factors, to improved private-label profitability, reduced theft or having to trash aging products and a stronger Canadian dollar. The improvements were offset by higher transportation costs and the later timing of Easter and its related supplier promotions.

First-quarter operating margin grew to 4.2 per cent from 3.9 per cent, tied to a stronger loonie, labour efficiencies and a better performance of the company’s franchise business. At the same time, margins were pinched by investments in supply chain and information technology and a charge associated with an internal corporate revamping.

New accounting rules prompted Loblaw to break out results in its financial services division for the first time: its first quarter operating profit in the division dropped 25 per cent to $18-million from $24-million a year earlier. The drop was mainly because of less revenue and an increase in marketing costs, partially offset by a lower allowance for credit-card losses.

Loblaw’s financial services’ revenue in the quarter fell 5.7 per cent to $115-million from $122-million a year earlier. Better customer payment practices helped reduce the revenues, positively affecting the annualized credit loss rate, as the company had planned, it said.