Canadian Consumer Sector Weakening, But Prospects Look Brighter Beyond 2011

Two of Canada's largest grocery retailers have posted rising profits but lacklustre sales for the third quarter of 2010. For the three months to October 9 the country's largest grocery retailer Loblaw registered a 12.7% increase in net profits, which came in at US$208.6mn. However, net sales over the period increased by just 1.8%, while like-for-like sales fell by 0.4%. Meanwhile, in the three months to September 25, third-placed Metro registered an 8.7% increase in net profits, which came in at US$97mn. However, net sales were up by only 1.1%, while like-for-like sales inched up by just 0.5%. The results

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