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An exterior shot of Jean Coutu store in Longueuil, Quebec, May 2, 2012.
An exterior shot of Jean Coutu store in Longueuil, Quebec, May 2, 2012.
(Christinne Muschi/The Globe and Mail)

SCOTT BARLOW

Canada’s consumer debt darkens outlook for retail stocks

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The Loblaw Cos. Ltd. and Shoppers Drug Mart Corp. tie-up makes perfect sense over the long term, but the sympathy rally in other retail stocks on Monday does not. Domestic retail sales growth has been declining markedly in recent months.