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.
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