Loblaw suspects food inflation crisis may have finally peaked

But even when a grocer agrees to pay more at wholesale, it still gets to decide whether to absorb the added costs or increase retail prices. And it’s clear many of the increases are making their way to the consumer.grocery bills rose 9.4 per cent year-over-year in June. That was down slightly, from a 9.7 per cent year-over-year increase in May — the worst spike in food retail prices since 1981.

The company reported that its profit margins got better in the second quarter, but stressed that the improvement wasn’t coming from food sales.Overall, the company’s gross margin — a basic measure of the profits leftover after subtracting the cost of goods — rose 60 basis points year-over-year to 31.2 per cent.

Net earnings were $428 million, down $6 million from last year. Loblaw said it recorded a charge of $111 million in the quarter, due to aOn an adjusted basis, however, profit available to common shareholders was $566 million, up 22 per cent over last year. Adjusted net earnings per share were $1.69, up 25 per cent. Analysts were forecasting earnings per share of $1.61, according to a report from Bank of Nova Scotia analyst Patricia Baker.

Source: Loan Digest (loandigest.net)

Lol loosing to much on your profit

Help your capitalist buddies lie some more their prices are directly related to price gouging “Loblaw Companies Limited generated approximately 53.17 billion Canadian dollars in revenue in 2021”

Loblaws realizes they’ve stolen enough of our hard-earned money and they can’t get away with it any longer before people revolt.

oh they finally decided to maintain their gouging levels. Nice. Feels like a bunch of rich profiteers need jail

They’ve made record profits by gouging so now they do stock buybacks with the cash thereby increasing shareholder wealth while making a nice headline to keep the politicians at bay.

'... Layoffs to follow'

The one they created?

Perhaps Loblaws have figured out people want them charged and tried for price fixing SHAMEFUL extortion

'OH no look what we've got caught doing'

Nice FakeCrisis

Hm. Probably nothing to do with them getting caught gouging eh.

Galen paid off the new yacht.

So they've decided to stop inflating their prices well above any actual inflation then? Absolutely record profits last year were enough for them? Sounds unlikely.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Loblaw Q2 profit increases to $387M amid strength in drugstores - BNN BloombergLoblaw has posted an increase in its second-quarter profit and revenues as drugstore sales boosted the company's margins and discount grocery store sales grew. We plan ahead and generally don't buy an item unless it's 'on sale'. When it is 'on sale' we buy a lot, unless it's perishable. If you base your diet a 2000 cal per days...you will save 50% of your grocery bill and also buy better quality food. With 2000cal...75% of the supermarket you don't buy....60% of the population is overweight Wanna save a bundle at the supermarket? Simple... stay out of the middle aisles! Cook fresh, at home, and your body will thank you.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Loblaw Q2 profit jumps to $387M amid higher drugstore, discount store sales - National | Globalnews.caAdjusted profits for the three months ended June 18 was $566 million or $1.69 per diluted share, up from $464 million or $1.35 per diluted share in the second quarter of 2021. $387M in a single quarter. Doesn’t raise salaries like it does prices. Galen Weston is a terrible human. Poll: Is Loblaw taking advantage of customers? To be fair, $387M in today’s money is like $100M in 2019
Source: GlobalNational - 🏆 81. / 51 Read more »

Loblaw links profit boost to health products, calls grocery margins 'stable'Loblaw said its profit\u002Dmargin boost came from its drug stores, not food retail. Find out more here. Ohhh, they are gouging us for health products not groceries. So they're price fixing health products instead of bread this time. Ya, ok.
Source: nationalpost - 🏆 10. / 80 Read more »

Loblaw links profit boost to health products, calls grocery margins 'stable'Loblaw said its profit\u002Dmargin boost came from its drug stores, not food retail. Find out more here.
Source: fpinvesting - 🏆 43. / 63 Read more »

Loblaw links profit boost to health products, calls grocery margins 'stable' | SaltWireLoblaw’s revenue hit $12.9 billion in the second quarter, up $356 million from the same quarter last year. Profit to shareholders is also up.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Loblaw links profit boost to health products, calls grocery margins 'stable'Loblaw said its profit\u002Dmargin boost came from its drug stores, not food retail. Find out more here. BS. It's the $2.50 per green pepper helping the bottom line. Canada has a vast amount of food producers where you can buy groceries directly from them! Why not pay the farmer? 🇨🇦 ReconnectWithYourFood
Source: VancouverSun - 🏆 49. / 61 Read more »