Loblaw Cos. Ltd. and Metro Inc. say they've received fresh rounds of cost increase notices from food suppliers in recent weeks.
The comments came as both grocery and drugstore operators posted higher sales and profits in their latest quarterly results. Loblaw chairman and president Galen G. Weston said the company is "actively participating" in the Competition Bureau's study. A recent study found Canada's top three grocers all posted higher profits this year compared with their average performances over the last five years.
Loblaw's food gross margins have been "essentially flat" every quarter since inflation took off last summer, Dufresne said. The Montreal-based company reported its fourth-quarter profit fell compared with a year ago as it took a $60-million charge related to the company's decision to have its Jean Coutu drugstore chain withdraw from the Air Miles loyalty program next year.
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