CHARLEBOIS: The missed opportunity of the Loblaw boycott

HALIFAX, N.S. — For months now, we have heard rumblings of a Loblaw boycott organized by a clandestine group aiming to penalize grocers for their perceived profiteering. This alleged boycott is set to start on May 1, with participants calling for a reduction in food prices. However, it’s important to note that many food prices have already been declining for weeks, rendering the movement somewhat misguided in achieving its purported goals.

Furthermore, any Canadian who takes two minutes to read and assess the financial reports of top grocers like Loblaw, Empire/Sobeys, and Metro will quickly realize that accusations of profiteering are largely unsubstantiated. Not only have these companies seen same-store food sales growth generally below food inflation rates in recent quarters, but their gross margins also — a true indicator of profiteering — have remained stable for at least five years across all three corporations.

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