MORE LOEB STORES THIS YEAR
By Adnews Staff
Montreal-based Provigo Inc. is building 15 new stores this year, five of which will be in Ontario. The company now has almost 100 Loeb stores in the Ottawa region; the new stores will be in areas where it currently doesn't operate, such as Peterborough and Markham. The other 10 Loeb stores will open in Quebec. Provigo profits in the first quarter jumped 12% over the same period last year, to $15 million. Sales grew 3.8% to $1.3 billion for the period ended Apr. 30. Last year Provigo reduced its stake in Consumers Distributing from 19% to 8%, with the intention of concentrating on its grocery business. Provigo owns or supplies 345 supermarkets in Ontario and Quebec, and 1,228 convenience stores in Quebec, Ontario and Alberta. Its other banners are Proprio, Axep, Jovi, Provi-Soir and Winks. Advertising for Provigo is done by Cossette Communication-Marketing in Montreal.