loblaw cos ltd on wednesday reported a 29 rise in profit and betterthanexpected revenue growth in the third quarter as canadians grapple with rising food prices across the country the canadian retail grocery and pharmacy company reported net earnings of 556 million canadian dollars 4186 million or c169 a share compared with the prioryear period where it reported net earnings of c431 million or c127 a share on an adjusted basis earnings rose to c201 a share according to factset analysts were expecting c196 a share sales rose jumped 83 to c1739 billion from c1605 billion while analysts expected a rise to c1683 billion samestore sales at its food retail segment rose 69 in the quarter compared with 02 a year earlier while its drug retail unit saw samestore sales rise 77 from 44 in the period the consumer price index for food purchased from stores was 107 a far cry from last years 26 at this time in september alone the cost of food purchased at stores rose 114 loblaw noted that food retail basket size decreased while traffic inside its stores increased the company said it has made efforts to moderate the cost increases and provide value to its customers through its points program and promotions