Canadian grocery chains report rise in profits as shoppers struggle amid rising costs



E-mail : *

Some large grossers continue to see their year-over-year earnings increase significantly according to their latest numbers lbla the parent company of L Blas and Shoppers saw profits disc quarter jump up by $95 million to $621 million compared to last year according to its latest financial report its profits were driven by drug and food

Retail sales it’s not the only grocery chain seeing record profits despite a five-week strike that saw Metro workers at 27 stores walk off the job to seek better wages Metro reported a fourth quarter jump to 222 million from 168 million in the same quarter last year

That’s a 14% increase and $54 million in additional profits the company says the strike led to $27 million in missed Revenue while the profits are increasing for major Grocers Canadians say they’re frustrated by grocery prices as a cost of living remains steep it’s uh disheartening it’s horrible frustrating

Like they’re just passing it off on the consumers and saying that it’s inflation but they it’s all about the profit these big chains it just makes me feel like like where do I where do I go do I move out of the city like what do I do with

One in 10 people in Toronto now relying on a food bank as food prices sore according to a report by daily breed food bank and North York Harvest Food Bank One grocery industry expert says the solution is multipro it is not lack of food it is not the price of food or

It is not just the profits of Corporations so we really have to address all of these problems collectively Grocers have been under pressure from the federal government to stabilize food prices with a code of conduct for the industry set to be installed in the near future amaron Global News

Two of Canada’s biggest grocers reported a rise in sales and profits year-over-year in their latest quarterly earnings reports on Wednesday.

According to Metro and Loblaw, sales growth in their pharmacy and cosmetics divisions helped drive profits in the last quarter.

But the increase in profits comes as Canadians are increasingly frustrated with rising costs.

Ahmar Khan breaks down the numbers.

For more info, please go to
Subscribe to Global News Channel HERE:
Like Global News on Facebook HERE:
Follow Global News on Twitter HERE:
Follow Global News on Instagram HERE:
#GlobalNews #foodpricesincreasing #foodprices #groceryprices



  1. I wonder if the record profits these large grocers are collecting have anything to do with the Trudeau carbon tax? I wonder how much the Trudeau government collects in kick backs from these large grocers? Why did the Trudeau government give 12 million taxpayer dollars to Loblaw to "help" the grocery chain convert refrigeration systems in about 370 stores when Loblaw has a net worth of 38.7 billion dollars? After 12 million in taxpayer dollars given by the Trudeau government to "help" Loblaw transition into compliance with the Carbon Tax, Why are Canadians dealing with grocery prices that they can't afford, while the 2 largest grocers in Canada are collecting record profits that have been increasing annually?

  2. Literally bought a pack of chicken wings in "special" to realize that half the damn box was air and thicker/heavier cardboard FFS Went from 797g to 597g but they slap a "special" on it.

    May they rot in hell.

  3. Loblaws is flipping a Zehrs store in Bolton On to a Fortinos all owned by Westons , Loblaws and of course prices are higher and the lower wages and cut in benefits go hand i hand with Weston's profits , a mom and pops store is cheaper the Fortinos lots of town people switching to Food Basics in town and Loblaws profits sore and soar at the hands of the consumer.

  4. In the meantime poverty allieviation completed in 🇨🇳 🇷🇺 economy booming… CGTN The Point-Hub-Heat, RT International. Why is Canada not on BRI map? Reporterfy-Cyrus Janssen-The Duran

  5. I hit smaller stores, Italian Asian Arabic African markets. Big chain stores hide behind their buzzword excuses charging preposterous prices. I can spend $30 at a smaller market for the exact same stuff that Id pay 50-60 at a big chain.

  6. La blaws, owned by the richest family in Canada, now has security gates to filter people out and filter them in like a prison.
    They don’t have any staff, except for the addition of security guards to make sure you’ve paid for your chicken.

    Only Canadians put up with his bullshix

  7. What a surprise……. Who else made huge profits, politicians who approved Arrive Can for $54 million! Or is the aim to starve the population? And watch them suffer? While rich get richer and people in power get richer!

  8. The professional liars and big supporters of the Trudeau-Singh government at Global "News" want you mad grocery stores instead of being mad at those actually responsible for inflation: the Liberal-NDP federal government.

  9. I tell you what Spain did. They slashed the taxes of certain food items and that has been on for at least a whole year. And they are planning to renew that at least until summer 24. Companies there have done nothing but the state, the government has. Why this Liberal government (Provincial too) don't do the same? If grocers do nothing then you get rid off the tax, help! Don't just stay there with your arms crossed while people are struggling. Like, isn't that what governments are set to do? help the people?

  10. So since you think since we Consumers are having a tough time a business should give us a break? This seems to be the just of your reporting on the grocery store industry lately. Well I did some digging into Global, your parent company is Rogers who so far this year has had a whopping 24% increasing revenue, I guess this means I’m getting a discount on my cell and internet bill since you are so sympathetic to how tough it is!

  11. Why was there no mention of the actual net profit margins? I suspect because they haven't changed much or at all.

    This sounds like the government is trying to blame stores for the increased prices they themselves caused by devaluing our currency and increasing production costs, shipping costs, and carbon tax costs which are ALL paid for by the consumer.

  12. Industry expert making it a "collective" issue is bogus and misleading. BUT its the old strategy of making things seemingly super complicated to avoid changes.

Leave a Reply