The Financial Post reports in its Saturday edition that Loblaw reported its fourth quarter profit and sales rose compared with year ago. A Canadian Press dispatch to the Post reports that Loblaw earned a profit available to common shareholders of $541-million or $1.72 per share for the quarter ended Dec. 30. The result compared with a profit of $529-million or $1.62 in the last three months of 2022. Revenue totalled $14.53-billion, up from $14.01-billion a year earlier. Food retail same-stores sales rose by 2 per cent, while drug retail same-store sales increased 4.6 per cent, with front store same-store sales growth of 1.7 per cent and pharmacy and health care services same-store sales growth of 8 per cent. On an adjusted basis, Loblaw says it earned $2 per share in its latest quarter compared with an adjusted profit of $1.76 a year earlier. Markets were expecting earnings per share of $1.90 as of Wednesday. For 2024, Loblaw expects its retail business to grow earnings faster than sales, with growth of adjusted net earnings per common share in the high single-digits. The latest results come as Loblaw faces pressure from politicians and Canadian shoppers regarding inflation and the cost of groceries.