The Canadian food and drug retailer, which owns grocers like No Frills, Fortinos and Real Canadian Superstore, reported $14.7 billion in revenue for the second quarter, exceeding analyst expectations of $14.6 billion, according to estimates compiled by Visible Alpha. Loblaw’s sales increased $725 million year-over-year, up 5.2 per cent from the same quarter last year. The company’s stock rose 2 per cent as of 12:30 p.m. ET. (The Logic)

Talking point: Tariffs remain a factor in the company’s growth, chief executive Per Bank told investors. “About a third of all supplier cost submissions have been tariff-related,” Bank said. The company’s credit card industry data shows that growth and spending have slowed “quite significantly,” Bank said, which has benefited the company’s discount stores. E-commerce sales in food and pharmacy performed well, increasing 17.5 per cent year-over-year.