Two of Canada’s grocers say food suppliers are continuing to pass along new cost increases, signalling higher food prices will persist into 2023.
Loblaw chief financial officer Richard Dufresne said the company has seen "unprecedented cost increases from our suppliers this year and we continue to receive new cost increases." "Our objective is to make sure that we share in a transparent way all the most relevant information to make sure that the facts of what's happening in this inflationary environment are properly understood," he said.
But a Dalhousie University report said there was not sufficient data to determine whether grocers were taking advantage of high food inflation, since their financial results group food prices together with goods like pharmacy items or cookware. "This gives us the confidence to say categorically that retail prices are not growing faster than costs and the company is not taking advantage of inflation to drive profit," he said.
As long as Libs are in power
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Loblaw profits jump 23% in third quarter as Metro reports higher sales from inflationLoblaw says its profit growth comes from increased sales of high\u002Dmargin items such as cosmetics, not food. Find out more.
Source: fpinvesting - 🏆 43. / 63 Read more »
Loblaw, Metro say latest results show they aren't taking advantage of inflation, despite rising profitsLoblaw says its profit growth comes from increased sales of high\u002Dmargin items such as cosmetics, not food. Find out more. 🙄 Sorry Loblaws et al. Canadians have seen some of ur items as much as double in price well in excess of the rate of inflation and those Canadians will be calling bullshit. So explain why us farmers are getting paid the same price from loblaws but their prices are going up 3x
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Loblaw profits jump 23% in third quarter as Metro reports higher sales from inflationLoblaw says its profit growth comes from increased sales of high\u002Dmargin items such as cosmetics, not food. Find out more.
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Loblaw profits jump 23% in third quarter as Metro reports higher sales from inflationLoblaw says its profit growth comes from increased sales of high\u002Dmargin items such as cosmetics, not food. Find out more. CROOKS There is no food shortage and no supply of oil is or any essential commodity has a issue war is just an excuse to make more money from consumer. Gas&grocery prices are fixed by these company proof see their profits
Source: calgaryherald - 🏆 64. / 52 Read more »
Loblaw, Metro say latest results show they aren't taking advantage of inflation, despite rising profitsLoblaw says its profit growth comes from increased sales of high\u002Dmargin items such as cosmetics, not food. Find out more. Today's news said Loblaws profits up this year. 30%? Yep, no gouging! We'll put all that extra money where it belongs - into the bonuses & dividends for those who helped us do so well! 😡😡😡
Source: OttawaCitizen - 🏆 21. / 68 Read more »
Loblaw, Metro warn food inflation could persist as suppliers continue to hike pricesLoblaw and Metro say food suppliers are continuing to pass along new cost increases, signalling higher food prices will persist into 2023. They have to because the liberals/NDP cult in Ottawa has destroyed the energy economy. There are other suppliers. The big buyers have the negotiating power, not the suppliers. You know this so cut the bs. Thank you world leaders.
Source: TheTorontoSun - 🏆 23. / 68 Read more »