CANADA BREAD CO. LTD. $48 - Toronto symbol CBY

CANADA BREAD CO. LTD. $48 (www.canadabread.ca) is seeing lower demand for its fresh baked goods. At the same time, its costs for wheat and other ingredients are rising. As a result, its earnings fell 62.5% in the first quarter of 2012, to $0.21 a share from $0.56 a year earlier. Sales rose just 0.4%, to $371.8 million from $370.2 million. Hold.

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