The Financial Post reports in its Thursday, July 27, edition that according to Loblaw second quarter results, consumer demand for pharmacy drugs and discount groceries remains resilient although shoppers continue to focus on value. The Post's Bianca Bharti writes that Loblaw on July 26 said overall revenue increased 6.9 per cent to $13.7-billion for the second quarter ending June 17. It said net income grew more than 31 per cent to $508-million or $1.58 per diluted share. Adjusted net earnings were $626-million, or $1.94. Loblaw president Galen Weston told analysts on a call, "Our hard-discount locations have never been busier, with our highest-ever customer counts, double-digit growth and No Frills was recently named the most trusted store for low prices." Loblaw also operates a number of other businesses, including Shoppers Drug Mart, Real Canadian Superstore, Provigo, Joe Fresh and PC Financial. The company's quarter was characterized by "a focus on value" and lower gross margins as food inflation continued to increase, the company said. However, Loblaw beat analyst expectations, who had forecast revenue of $13.6-billion and per share earnings of $1.91, according to Refinitiv data reported by Reuters.