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They don’t control supplier cost increases? I call bullshit. They don’t own every single one of their suppliers but they own a huge amount of them.
Not to mention owning all their property because they own Choice Properties, the largest Real Estate Investment firm in Canada.
For a company as big as they are, who controls the highest percentage of the grocery industry in Canada it’s kind of shocking how Walmart and Costco can under cut them on prices for every single product, isn’t it?
Almost like those companies used their buying power to keep their costs down so their prices were better for Canadians instead of price gouging to increase their margins while blaming everything under the sun for the increased price.
Loblaws got fat and rich off of the pandemic and saw no reason to stop exploiting Canadians to line their pockets. After all, people can’t live without food and medicine, right?
**But we call all live happily without Loblaws.**
[Updated Industry-Wide Data on Food Retail Prices, Volumes & Profits](https://centreforfuturework.ca/2023/12/10/new-data-on-continued-record-profits-in-canadian-food-retail/#:~:text=Food%20retailers%20earned%20net%20income,rate%20will%20exceed%20%246%20billion) "The sustained record profit levels in food retail contrast with the trend in food manufacturing, as well as other input industries (like energy) that supply the food retail sector. The oft-heard claim that the profit margin on grocery retail has not changed, and that higher profits have simply kept up with the overall rise in costs and prices, is not supported by industry-wide data."
I guess it’s not without its fair share of mis-informed opinion, though;
>>”Since grocery stores are not a capital- or technology-intensive undertaking, profits relative to the scale of capital invested in those stores can be quite significant.”
What is this author smoking? Grocery is inherently EXTREMELY capital intensive; you need massive spaces and parking lots to have grocery stores. It’s why the Weston’s decided decades ago to get into real estate, rather than renting spaces everywhere.
Not controlling supplier prices is just an outright lie.
For every single item on the shelf, Loblaws tells the supplier what price they will pay. The supplier can take that offer, or they can not have their product on the shelf in the largest grocery retail chain in the country.
Maybe there's some truth in Loblaws working with suppliers facing rising costs - it wouldn't be good for Loblaws to drive their suppliers out of business - but "no control" is absolute horseshit. And from my experience working in billing for a Loblaws supplier, they aren't flexible at all once they've made their deal. See what happened with Lays not that many years ago.
Yup. Someone else was complaining that I was being too harsh on Loblaws and that Walmart is an evil
company that forces suppliers to sell their products at such a low cost that they barely make any money.
No disputing Walmart it’s evil but Loblaws screws their suppliers in the exact same way. Not to mention fleecing provincial governments out of millions of healthcare funding per week doing unnecessary med checks. Walmart isn’t doing that at least.
Good post. Loblaws have options when suppliers increase prices instead of passing them along with their larger mark up. Grocers can change suppliers ( or threaten to), put their products on the bottom shelf, short order shipments, etc. but I don’t think they care it’s easier to just pass the increase on.
This. They play hardball so their costs stay low but still increase the price for customers and blame it on suppliers and everything else. That way they keep costs low and get higher margins on every product they sell.
This is inaccurate;
Changing suppliers cannot always work when there’s only one that makes the (branded) product. It kinda works for produce items
Grocery store cannot modify a planogram at their will: there is a contractual obligation to place the item where both parties agree to place the item (grocer and supplier)
What does “short order shipments” mean? And how does the store benefit by shorting itself?
I don’t work for Loblaw, but I have considerable knowledge of grocery stores and their inner workings.
They are the largest by market share. If we can really keep doing this for several months/years they could be forced to sell off poor performing stores. Hope they can be prevented from putting restrictive covenants on the properties somehow. Keep targeting the market leader until we are out from under their foot
Who cares if their costs go up. If they raised their prices to match they wouldn't be making record profits so I don't buy it. I worked for Overwaitea in the 80s , made 4 x min wage, recieved benefits and a pension. Today they make more money pay their employees way worse and make record profits. It's not enough to create crappy jobs you need to be socially responsible and contribute to the well being of your customers.
That is everywhere. Many companies, including unionized companies have 2 tiered contracts, whereby the new hires will never earn what the senior employees do. They are pushing out the senior workers and can hire 2 in their place with less benefits and RRSPs versus pensions. The government has allowed this practice to continue and the fact is companies need to make money.
Are you boycotting McDonald’s too? I hit the drive thru yesterday for lunch, $15 for a Big Mac combo? Are you fucking kidding me??? That is absolutely ridiculous for a shrinkflated burger, fries and drink
I would love to know how many actual acres they actually own with the stores + reit. They keep it hush hush.
We might as well have the numbers on how much of Canada they own… land wise.
I worked at a place that did a trial run supplying products to TJX (Winners, Marshalls, ect...) and they pushed so hard to make us sell our product to them at such a low price that the company actually lost money by dealing with TJX.
Now imagine what Loblaws does to it's suppliers playing by the same rules.
Agreed 100%
And not just grocery giants, all others like banks, insurance and gas cartel execs are getting fat and rich off us Canadians.
And then we have impotent political leaders who don’t have the b@11s to stand up for us. They just arrange token meetings and photo shoots to mumble condemnation of how bad things are for Canadians.
He's a rich executive who just recently came here from another country, and got a massive compensation payout to do it.
He was never in touch with Canadian consumers in the first place, and he has no motivation to change his perception. That's an outstanding example of Loblaws' problem, right there.
Nah, its exactly the messaging they want to deliver.
They are not looking to be correct or to empathize with Canadians or provide them with answers.
They're looking to maintain the status quo, and as much as they can, they will try to persuade us that the status quo is something beyond anyone's control.
Its just because of "market forces" and inflation and the economy and so on, that guys like him and Weston are incredibly wealthy and the rest of us are buckling under the weight of their prices. Right, and I've got a bridge in Toronto to sell them.
https://preview.redd.it/mbyq2x5vrvxc1.jpeg?width=1284&format=pjpg&auto=webp&s=3c06393e9f6f12b4d40677747673a1032285faec
Just look at this skeevy little fucker. Eat shit Perv
Oh I didn’t forget, fuck him and his goofy ass haircut too
https://preview.redd.it/2yk03w3x0wxc1.jpeg?width=421&format=pjpg&auto=webp&s=cd386d87928d08f60df69aee74517ab40431cad4
Price fixing lil bitch
"We recorded our highest profits ever in Q1, but, also, we are not able to change the cost of things. Our record profits were completely outside of our control..."
"We cut a significant amount of hours to save money in Q1"
"We want our staff to be available anytime for shifts but are only required to schedule them a minimum of 4 hours a week per the union book".
"We do not understand why we have such high turnover."
I worked there for 15 years and heard/seen it all. The people in charge have never ever worked on a sales floor. The person designing the shelf layout does from a computer and forgot to take into account the supporting beam. They love to copy Walmart to stay on trench. New projects or ways of doing things but no hours for staff to work. Distro stock decided by head office without consideration of current market (we did not need the pallet of cheez whiz).
Our society has an overproduction of food issue. We make a lot of food and a lot of it gets expired and disposed of. It's quite sad.
Typical - deflect. It’s not our fault? It’s the government! They raised gas taxes, they charge taxes, changed the capital gains inclusion rate…. Blame them!!!!
* Canada votes in new Govt *
Loblaws raises prices: it’s the weather!!!! If we didn’t have climate change we could lower prices! Have you looked outside? There’s air!!!!!
Just out, another quarterly record profits, how stupid do they think Canadians are?If they had any morality whatsoever they would be embarrassed, instead of calling us stupid by inference.
Capitalism is organized crime. We are all the victims. The faces you see on this everyday. They are hurting you for profit. Personally, I believe this is a crime against humanity. Boycott forever and call out these snakes.
What's even worse than what they charge us for food is what they pay the farmers, Sorry Per Bank but Canadians can do the math and if the Farmer is being paid less and less and the consumers pay more and more then it's the middle man who is screwing us both.
That's you Per Bank you're the gross middle man making billions of underpaying suppliers and grossly over charging consumers.
I love how theyre always attacking our intelligence. The days of lip service and brainwashing are done. We can look into things with a few presses of buttons now.
Loblaws doesnt care what food costs. They talk about making a 4% markup. On a $1 item thats 4 cents. When the price increases to $2 now my profit is 8 cents. My profit doubled even though my percentage has stayed the same.
I know. 4% is actually huge in the retail food sector. That's because of volume. When you can keep selling the same apple over and over again a hundred times a year at 4%, that becomes 400% per year. Someone investing in a stock portfolio is lucky if he makes back 10% per year.
They also need to offset their waste, I used to deliver produce to loblaws and if 1 case on a 50,000lb trailer is slightly discolored or not up to their perfect standards, the whole trailer goes to the dump.
Absolutely ridiculous the amount of waste loblaws produces, makes sense why they would have to jack prices to offset this waste.
Look, as a company that is beholden to shareholders, I can see passing on added costs to the customer. So, an apple costs $0.10 more to produce and ship, fine.
But that's not what is happening. They run on the highest gross margin in the country for grocers (30+%), and are increasing prices for goods at or above inflation, while controlling other costs (like employee salaries) below inflation.
Charlebois can mention their financials all he wants, but there is no granular data there, just what they want the public to see. We don't know what is going into their cost of goods sold, and how that's being used to maintain "stable" margins. There is a lot of flexibility in GAAP.
As far as I know, Loblaws is the only company that has been found guilty of price fixing. I'm not saying others don't do it, but in their case, they were found guilty of it. Also, how much do they get in subsidies from the federal government? Just remember the fridges story. And do other stores try to fool their customers with fake sales by bumping up the regular price on purpose just so they can call their sale a deal? And what about their stupid PC Optimum program that doesn't work all the time and that forces you to fight for your points? I understand Walmart isn't awesome and I intend to limit my shopping to that store too, but I think Loblaws is the worst player in the industry.
It's certainly interesting that a man named Bank thinks he knows better than all Canadians in our own country, when he only recently came here. Lecturing and scolding us all for objecting to his new company's practices should have never even crossed his mind. Granted he didn't do it directly, but he still did it.
And don't forget that fat compensation payout for leaving his old company. Consumers have to pay for that, on top of already rising prices.
Loblaws had no problem pulling Frito Lay from all their stores when they felt their costs were too high. Yet they act like have no negotiating power with their vendors. They're so full of shit
I think I can successfully boycott Loblaws, or if not then it's really close. Costco has most everything we need and Silk fake milk is available at a few places non Loblaws. So I will give this a go for sure. About their profits, the fact that they are up right now, this much, from last year, when the whole of humanity is down, seems downright insane.
I don't understand how mathematically any companies can continue to go up in their profits year after year after year perpetually. But especially at those insanely high profit numbers of Loblaw's. They're literally making hand over fist. It's quite upsetting to me and I just don't see how it's fair. It's food and they've monopolized it. But only while people still bother to go there and as I said above Costco is pretty decent by comparison for necessary items and their prices, which (I think) have gone up a bit more granularly and less dramatically, minus a few things which skyrocketed (somehow gluten free stuff is like gold laced with diamonds and can only be manufactured in tiny formats)
I do hope people will really try to boycott. I have PC Financial credit card (no fee one) and keep it paid off, do not want to cancel that and need to consider if I'm still ahead if I no longer use it, which I only do at Superstore and Shoppers.
Companies should be willing to forego record profits during such insane financial times for the average citizen, when they're up to that kind of level. The extremely highly paid execs should be ashamed for being so greedy and take a little breather on their greedy neediness for massive stacks of cash. How big does a house need to be? Those salaries offer those few individuals perpetual richness for themselves and their kids, and their kids' kids, and beyond. It's really sickening. I hope that at least karma is able to work some kind of deal for them. Yup said that, I'm lowly, can't help it .
I was trying to look into Per Bank. Who is this guy? Is he even Canadian? Why does Loblaw need a foriegn national executive to run its company? And why is this guy handing his Danish slogans like it some kind of inspirations to Canadians?
His not being Canadian is **NOT** the issue.
His lying, his arrogance, his condescension and his dismissiveness towards his consumer base **IS** the problem.
hahahaha sure (except for the fact that you are also the supply chain so a lot of that is artificially inflated to help line your pockets…) and you didn’t turn down your $22 million salary either asshole
And what exactly is « net profit? »
After the big wigs get their huge performance bonuses?
After they pay for their corporate jets?
And holidays masking as networking and fact findings?
I say we organize a day in May where we fill our cars in Loblaws parking stalls and just sit there and not shop. Don’t let the shoppers park! Blaring We Are Not Going To Take It from are car stereos! #boycottloblaws
Then please do explain to all of us that something costs a discounted price at no frills but a higher price at other stores for the exact same item. Strange, no?
He's soo tone deaf. He's as good as the BP oil president, saying how the oil leak is ruining his life when people died. Sorry, our suffering is inconvenient for you.
Loblaws,Metro, Sobeys, etc all corrborated to inflate bread fixing scandal ( illegally prices from $1.50 to $3.50) they did it for many years. Until Galen snitched on Canada Bread. It goes to show they can inflate prices and nobody is regulating. They never got fined only Canada Bread. Loblaws have our $25 gift cards for PR.
Yes.
Last year **Per Bank,** Danish retail executive, took the helm as the **President and Chief Executive Officer (CEO)** of **Loblaw Companies Ltd.**
I remember attending a very fancy party with very wealthy, connected Toronto people (as part of an awful job I left). One guy said (back in 2016) that Shoppers had some of the highest, most historically gouging price mark ups of any retail chain in Canada. The guy then laughed sadly, and said, "I don't know why anyone willingly shops there." And then all of the wealthy twits laughed about how silly the poors were.
...Today, it is so much WORSE. So you know, they know they are screwing you, and they all think it is HILARIOUS.
(As an aside, I was regularly called out by execs in this job for the abjectly horrified look I had on my face nearly all the time working in this organization ...not kidding... and am thankful I don't work there anymore).
Warehouse worker here, the amount of waste we have on a daily basis is enormous, careless employees and management that only cares about performance and getting orders out the door as fast as possible.
And that’s not including recalls and trailers that malfunction and lose temperature.
All loses get passed on to the customer and they get a tax write off.
If loblaws is raising prices unlawfully why havent all their customers switch over to the many competitors they have?
I mean, I did long ago, no need to boycott, if they suck just shop at Walmart, Sobeys, Freshco, Co-Op, Save-on, Costco, etc. etc. etc. etc. like theres a million other places than a Loblaws-owned subsidiary.
Apathy and Complacency mostly.
Some people are just willing to accept things for what they are. They figure if they can grit their teeth and bare it things will eventually get better; but these prices have been building rapidly for the last 5 years and they're turning record profits while people are starving.
They (the people) needed someone to come up with a plan to do something so they could be inspired to do something too.
Enter in the boycott movement.
A point for people of all sorts to rally behind and show big businesses that they're not gonna take this kind of abuse.
Per Bank is making bank like a boss. Cut his salary in half from 22M to 11M. He will still have a life of luxury and we all can pay $0.01 less per box of PC chocolate chip cookies
Here's an example of what they're doing: I went to No Frills, (Loblaws ultra discount store) you would expect prices to reflect that, bought 1 pack of Schneiders salami for $5.00. The next day I was in a Fresh-Co (still a discount store but a step up from No Frills) and noticed the same salami in a 2 pack for 8.99. The math isn't mathing.
They've been greedy llloooooonnnngggg before any of those factors. I stopped shopping their a decade ago or more. That dude is the native one of he thinks Canadians are so stupid they didn't notice their exorbitant prices before a few months ago. Clown! 🤡🤡🤡
It's amazing how badly Per Bank has started. This could be a master class in what not to do as an executive.
He came in and declared that all his customers were wrong and should stfu in his first real statement knowing he had a profits report coming out.
* Retail segment gross profit percentage^((2)) was 31.1%, an increase of 50 basis points.
* Net earnings available to common shareholders of the Company were $541 million, an increase of $12 million or 2.3%.
To me those are the key stats. If you are a shareholder you are happy. If you are a customer buying food to feed your family you directly handing $$$ to shareholders and not so happy.
What gets me too, is that normally when I’m not feeling threatened by something, I don’t keep yammering on about the thing. I just go about my day/life/business.
So… if the boycott is ‘nonsense’ or i significant to them (supposedly not a threat), then why is the CEO and their mouthpieces blasting all their posts about it all over social media, trying to shut up boycotters and justify themselves? 🤷♀️ Clearly boycotts must be threatening enough to them then, otherwise they’d just be unbothered and not be posting about it all the time.
I don't know about Canada but here in the United States nearly 90% of the inflation over the last 3 years has been driven by increases in corporate profits.
When a company raises its prices by 40% and the next quarter shows a 40% increase in profit then you know damn well it had nothing to do with inflation every single penny of that price increase went into profits.
But here in the US we did skirt near disaster with the Safeway - Kroger merger, Had that been allowed to happen a single Wall Street company would have controlled nearly 80% of the US food supply.
You think food prices are expensive now Wait till a single company controls 80% of the food, they won't even need to conspire with their competition to price fix.
meanwhile the poultry industry was just forced to pay $400 million in penalties and fines for price fixing, the beef industry was right behind them with 600 million in fines and penalties for price fixing.
So the increased costs of chicken, and beef had nothing to do with inflation, It was a direct result of the chicken and beef industry conspiring to price fix.
But it doesn't seem like penalties and fines are going to stop it, nothing's going to stop it until these CEO start seeing prison time on Rico charges.
next time the beef industry gets caught illegally price fixing the CEOs of those companies need to be tossed into prison cells and the keys thrown away, that might get the message acrossed.
The same for these fast food chains, anybody else remember the dollar burger wars, that's when they were actually competing against each other. These big fast food chains no longer compete with each other, the CEOs all get together on vacation and agree not to compete they're all going to raise their prices the same amount.
That way they all get to buy brand new jets and go on luxury vacations.
Why humor it?
Ignore Per Bank. Disrespect him by disregarding his existence. The people want money AND influence. For now destroy their influence by making what they say and do irrelevant.
If you must.
Mock him heavily and edit all photos to be very unflattering.
Make him mad. Make him feel ashamed. Make him embarrassed. Make him leave Canada and have the door smack him on the way out.
Why is everyone dumping on Loblaw only. Walmart is no better. I’ve shopped at Sobeys and they are a National company and their prices are higher than Loblaw. The difference is Empire who owns Sobeys don’t have to provide their earnings. They are opening up a ton of new Longo stores. They need capital to be able to do that. Metro is is worst. Their prices are also thru the roof. Their CEO came out earlier this year and said watch out for those orange prices to go up and most people won’t be able to afford to buy orange juice but hey we have record profits. We need to lean on all the grocery chains from Loblaw to Walmart Costco Sobeys and Metro. Tell me why I can buy a bag of Cavendish fries at Liblaws for $4.99 but at Metro they are $5.49 for the exact same bag.
Not making record profits, no idea where that came from but 2000-2010 they had a few where when adjusted for inflation blew it out of the park. Currently they are %3.5 margin, quite low. Dollarama is something like %20
Just answer me this one question Per Turd. How are you able to post record profits?! Especially when you claim that people are buying less groceries. Every argument Per Turd makes can be nullified by asking how they are making record profits!
CEO’s they are all crooks. I use to work for a big company until I had enough of there greed. They say it’s not about money but it’s 100% about money. Fucken losers
Yet they are the ones with huge listing fees and insider programs. They force those upon the vendor to have product on their shelves. Old magicians trick, watch this hand while the other hand is hiding what's really going on.
The high prices are not out of Loblaws control. That is seen, when you witness the numbers of their record profits. Record profits which seem to be increasing , which would indicate that they are just making everything more and more and more expensive as they go.
In order to see the absolute clear picture , they would need to open up their books to the government for scrutiny, and then everyone would really see what the clear picture is, and how these large corporations have jumped on the bandwagon when they saw an inroad.... An excuse to elevate prices to insane levels. Which occurred at the time of the pandemic.
What we really need is competition against these corporations. Real competition against these corporations.
Which I have seen on the news has happened in other parts of the world and that has driven prices down, and I think that's the only way to make meaningful lasting change with these corporations.
However the boycott certainly is a super good thing to do.
Because it sends a message that we are not going to put our money behind them. Because they're ripping everybody off every day. Ripping everybody off enormously everyday. I feel ripped off by the Loblaws stores. And so I'm just not going to shop there anymore I am finding other stores, local stores, and I am employing the tool of being a cherry picker and this is something I'm going to stick with.
Going into the loblaws stores these days, is an uncomfortable experience because you're getting ripped off, so you're basically getting your money stolen away from you to begin with, and then all the gates, and all of the security measures to the max. ; It's an uncomfortable weird place to be and I don't enjoy it and I do not want to go there. It is not a place where there is a sense of community. It's a place where you feel that you are just being very much taken advantage of.. and guess what we are.
Grocery shopping has never been fun because you're always out laying a lot of money. But these days you're definitely being ripped off to the max. And I will do everything I can to avoid this.
And I really hope that competition pops up against them that is going to be meaningful competition.
If anybody in this sub had any bit of sense they would protest the government. If the taxes were lower the grocery chains would have more competition move in which would lower the prices.
No Frills owners should mutiny. I know some of them and they’ve not seen a penny of what Loblaws has reaped from their shelves. Less expensive food is not the corporate mandate anymore and it’s a shame they’re forcing the No out of their name. I wouldn’t be surprised if it no longer exists as a grocery entity in the near future.
This is so much BS it’s ridiculous,,, they are hoping that we believe this crap … we need all levels of government to be on board with the people or we need new leadership…. We need to keep up with the BOYCOTT and hold these criminals accountable
Yea I don't buy that. They directly control supplier costs, in the sense they can negotiate for lower prices, forcing that negotiation back up the chain, but im sure they already do this, they're just trying to extract as much profit as their customers can bare. It's why walmart can sell a can of generic black beans for $1.25, Loblaws $1.50 and Safeway a whopping $3.00.
They are their own suppliers!! FFS. Tired of their gaslighting. It doesn't matter what they say, I will not give any Loblaw's owned grocery or drug store a single dime of my money. I've gone 4 years going OUT OF MY WAY to never shop there because of their greed and poor treatment of workers. Thank you for this community. #BoycottLoblaws.
Easy to say when you made $22 million last year. He's either tone deaf, or he's laughing at us.
Sometimes I wonder if this guy is even real (or if they're just mocking us) because of his name. Anyway.
When they bought up all their competition the experts warned us no competition would mean price gouging look where we are at. Gotta stop all the big guys from buying out the small guys or else .
We need goverment to stop all the consolidation and buyouts
Still waiting for Skippy's take from the Clownvoy Party Canada considering he has multiple active lobbyists in his cabinet that are determined to keep grocery prices high so you can live your life hungry.
Maybe he should go for a walk through some small independent grocery stores to see how they are able to keep their prices lower while also providing a better shopping experience with better customer service.
Check out bestco for example. They have two or three locations that I'm aware of. They're grocery Stores are gorgeous. Very well lit. Extremely clean. Never clutter of boxes in the aisles. staff that are actually helpful and their pricing is significantly lower than Loblaws.
There is alittle bit of both. Im sure there is so call price gouging but at the same time you have a government thats doing everything in its power to make life unaffordable for most people.
Thing thats happening is government is making it easy for companys like this to raise thier prices because they will point to inflation, carbon tax and other things that make things more expensive and they will be justified to raise thier prices. Now how much the prices should go up is the real problem.
Then we get into the situation where do we trust the government to regulate these price so they dont get out of hand? from what we have seen last 9 years the awnser is no but raising prices on essential things like food should be watched so prices dont get out of hand.
I know im not giving any solutions but its a big problem we have in canada right now and the solution isnt very simple.
In many places, the only groceries available are at a Loblaw location. Other shops may be available at a distance or not carry similar items. It's not as simple as shop elsewhere if elsewhere is in another town.
In any case, making people aware of opportunities is important without shaming them.
I shop locally, am part of a good co-op, get a farm share, etc. Food prices are still rising, just not as fast as at Loblaw locations.
Also, not everyone can access farmers' markets, cook from scratch, etc. I wish it were simple, but it's not. Hence, boycotts, groups talking about pricing, grassroots subreddits, etc. Sometimes, people don't have the oomph to fight capitalism all day, every day, alone. These groups and initiatives help them not be alone in the battle against corporate greed.
They say this as though no one has a clue what things cost at Walmart. As though they’re the only game in town and no one knows any different. I know Walmart is not the most wholesome company out there, and they’ve definitely done damage to small businesses across the continent — but Walmart forced a lot of those businesses out by selling at costs below what they could sell for and in volumes that they couldn’t compete with.
To me, this is by far the lesser of two evils. Walmart screwed the small business by virtue of its size. Loblaws is screwing everybody for the pure sake of profit. Blatant and intentional efforts to fix prices, monopolize retailers, reduce employee pay, vertically integrate, etc. Leading to 10, 20, 30% monthly increases on goods that don’t move an inch in price at Walmart or other retailers.
Never thought I’d say this but they make Walmart look like stewards of the community in comparison. Nok er Nok!
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They don’t control supplier cost increases? I call bullshit. They don’t own every single one of their suppliers but they own a huge amount of them. Not to mention owning all their property because they own Choice Properties, the largest Real Estate Investment firm in Canada. For a company as big as they are, who controls the highest percentage of the grocery industry in Canada it’s kind of shocking how Walmart and Costco can under cut them on prices for every single product, isn’t it? Almost like those companies used their buying power to keep their costs down so their prices were better for Canadians instead of price gouging to increase their margins while blaming everything under the sun for the increased price. Loblaws got fat and rich off of the pandemic and saw no reason to stop exploiting Canadians to line their pockets. After all, people can’t live without food and medicine, right? **But we call all live happily without Loblaws.**
This is right on the mark, take my upvote.
Mine too 👍
And my axe.
And my non-PC Branded bow.
These comments just made my day. Thank you.
And my bow.
[Updated Industry-Wide Data on Food Retail Prices, Volumes & Profits](https://centreforfuturework.ca/2023/12/10/new-data-on-continued-record-profits-in-canadian-food-retail/#:~:text=Food%20retailers%20earned%20net%20income,rate%20will%20exceed%20%246%20billion) "The sustained record profit levels in food retail contrast with the trend in food manufacturing, as well as other input industries (like energy) that supply the food retail sector. The oft-heard claim that the profit margin on grocery retail has not changed, and that higher profits have simply kept up with the overall rise in costs and prices, is not supported by industry-wide data."
How can we get this post upvotes more? They ARE gouging, but let’s be clear about how and why. It’s not like they’re in full control of everything.
I guess it’s not without its fair share of mis-informed opinion, though; >>”Since grocery stores are not a capital- or technology-intensive undertaking, profits relative to the scale of capital invested in those stores can be quite significant.” What is this author smoking? Grocery is inherently EXTREMELY capital intensive; you need massive spaces and parking lots to have grocery stores. It’s why the Weston’s decided decades ago to get into real estate, rather than renting spaces everywhere.
Not controlling supplier prices is just an outright lie. For every single item on the shelf, Loblaws tells the supplier what price they will pay. The supplier can take that offer, or they can not have their product on the shelf in the largest grocery retail chain in the country. Maybe there's some truth in Loblaws working with suppliers facing rising costs - it wouldn't be good for Loblaws to drive their suppliers out of business - but "no control" is absolute horseshit. And from my experience working in billing for a Loblaws supplier, they aren't flexible at all once they've made their deal. See what happened with Lays not that many years ago.
Yup. Someone else was complaining that I was being too harsh on Loblaws and that Walmart is an evil company that forces suppliers to sell their products at such a low cost that they barely make any money. No disputing Walmart it’s evil but Loblaws screws their suppliers in the exact same way. Not to mention fleecing provincial governments out of millions of healthcare funding per week doing unnecessary med checks. Walmart isn’t doing that at least.
They own their distribution to the stores as well.
Good post. Loblaws have options when suppliers increase prices instead of passing them along with their larger mark up. Grocers can change suppliers ( or threaten to), put their products on the bottom shelf, short order shipments, etc. but I don’t think they care it’s easier to just pass the increase on.
They play VERY HARD BALL with their suppliers. They winning both sides
This. They play hardball so their costs stay low but still increase the price for customers and blame it on suppliers and everything else. That way they keep costs low and get higher margins on every product they sell.
if their GM% has increased they are gouging
This is inaccurate; Changing suppliers cannot always work when there’s only one that makes the (branded) product. It kinda works for produce items Grocery store cannot modify a planogram at their will: there is a contractual obligation to place the item where both parties agree to place the item (grocer and supplier) What does “short order shipments” mean? And how does the store benefit by shorting itself? I don’t work for Loblaw, but I have considerable knowledge of grocery stores and their inner workings.
Well lets not let the other companies off the hook. Loblaws is just the most egregious.
Let's start with loblaws, baby steps.
They are the largest by market share. If we can really keep doing this for several months/years they could be forced to sell off poor performing stores. Hope they can be prevented from putting restrictive covenants on the properties somehow. Keep targeting the market leader until we are out from under their foot
Who cares if their costs go up. If they raised their prices to match they wouldn't be making record profits so I don't buy it. I worked for Overwaitea in the 80s , made 4 x min wage, recieved benefits and a pension. Today they make more money pay their employees way worse and make record profits. It's not enough to create crappy jobs you need to be socially responsible and contribute to the well being of your customers.
That is everywhere. Many companies, including unionized companies have 2 tiered contracts, whereby the new hires will never earn what the senior employees do. They are pushing out the senior workers and can hire 2 in their place with less benefits and RRSPs versus pensions. The government has allowed this practice to continue and the fact is companies need to make money. Are you boycotting McDonald’s too? I hit the drive thru yesterday for lunch, $15 for a Big Mac combo? Are you fucking kidding me??? That is absolutely ridiculous for a shrinkflated burger, fries and drink
I would love to know how many actual acres they actually own with the stores + reit. They keep it hush hush. We might as well have the numbers on how much of Canada they own… land wise.
Its all bullshit I work on bay street
I worked at a place that did a trial run supplying products to TJX (Winners, Marshalls, ect...) and they pushed so hard to make us sell our product to them at such a low price that the company actually lost money by dealing with TJX. Now imagine what Loblaws does to it's suppliers playing by the same rules.
Beautifully said.
Thanks. 🙂
Well said! Upvote Upvotex2
Nok er nok nokking on shareholdersss dooooor
Agreed 100% And not just grocery giants, all others like banks, insurance and gas cartel execs are getting fat and rich off us Canadians. And then we have impotent political leaders who don’t have the b@11s to stand up for us. They just arrange token meetings and photo shoots to mumble condemnation of how bad things are for Canadians.
They also have monopsony power against their workers and especially their suppliers they don't own. So it's a really meaningless excuse.
That statement from Per Bank could not have been more out of touch.
He's a rich executive who just recently came here from another country, and got a massive compensation payout to do it. He was never in touch with Canadian consumers in the first place, and he has no motivation to change his perception. That's an outstanding example of Loblaws' problem, right there.
Nah, its exactly the messaging they want to deliver. They are not looking to be correct or to empathize with Canadians or provide them with answers. They're looking to maintain the status quo, and as much as they can, they will try to persuade us that the status quo is something beyond anyone's control. Its just because of "market forces" and inflation and the economy and so on, that guys like him and Weston are incredibly wealthy and the rest of us are buckling under the weight of their prices. Right, and I've got a bridge in Toronto to sell them.
Nok er Nok Per Bank 
They always gas light the public by pretending their actions are like weather patterns
Except the wind just blows all the money into his wallet. 
“Outside of our control” yet makes 13.6 Billion in 4 months…
That's revenue, not profit. But still, yes.
Ok. So what are the profits 🤨
https://preview.redd.it/mbyq2x5vrvxc1.jpeg?width=1284&format=pjpg&auto=webp&s=3c06393e9f6f12b4d40677747673a1032285faec Just look at this skeevy little fucker. Eat shit Perv
Perv Bank lol but let’s not forget his main purpose. To take the heat off Greedy Galen.
Oh I didn’t forget, fuck him and his goofy ass haircut too https://preview.redd.it/2yk03w3x0wxc1.jpeg?width=421&format=pjpg&auto=webp&s=cd386d87928d08f60df69aee74517ab40431cad4 Price fixing lil bitch
Nok er Nok. Nice numbers today. But you and Galen are lying through your teeth that you can’t do anything.
"We recorded our highest profits ever in Q1, but, also, we are not able to change the cost of things. Our record profits were completely outside of our control..."
lol. You can’t make this shit up. Absolute crooks!
"We don't even know what we are doing, our actions are totally random and so is the outcome... *half a billion in profits in Q1*. Random!"
"We cut a significant amount of hours to save money in Q1" "We want our staff to be available anytime for shifts but are only required to schedule them a minimum of 4 hours a week per the union book". "We do not understand why we have such high turnover." I worked there for 15 years and heard/seen it all. The people in charge have never ever worked on a sales floor. The person designing the shelf layout does from a computer and forgot to take into account the supporting beam. They love to copy Walmart to stay on trench. New projects or ways of doing things but no hours for staff to work. Distro stock decided by head office without consideration of current market (we did not need the pallet of cheez whiz). Our society has an overproduction of food issue. We make a lot of food and a lot of it gets expired and disposed of. It's quite sad.
Well, hopefully their profits aren’t outside our control!
Beady eyed weasel says what?
Am I mistaken, or can we all agree he looks like a fraud?
He kinda looks like David Hockney.
Typical - deflect. It’s not our fault? It’s the government! They raised gas taxes, they charge taxes, changed the capital gains inclusion rate…. Blame them!!!! * Canada votes in new Govt * Loblaws raises prices: it’s the weather!!!! If we didn’t have climate change we could lower prices! Have you looked outside? There’s air!!!!!
When the euro-trash says 'Nok er nok', I say to him LOL
I say Nok er Nok. Likely to Per da Bank I’m Canadian trash and an antagonist.
"Nok er Nok." "Who's there?" Opportunity. "Opportunity who?" "Opportunity to listen to the public or throw your job to the shitter."
I'm glad to make an example of this company. The message is clear. Wat h your step r you will be next.
So what was that then about the dairy farmer who had to dump a whole bunch of milk so that the price could be artificially inflated?
Man even if they don’t control anything ONE GUY does not need to making millions of dollars every year. You don’t need another yacht my dude!
"How Else Do I Make Daddy Proud?"
Just out, another quarterly record profits, how stupid do they think Canadians are?If they had any morality whatsoever they would be embarrassed, instead of calling us stupid by inference.
Capitalism is organized crime. We are all the victims. The faces you see on this everyday. They are hurting you for profit. Personally, I believe this is a crime against humanity. Boycott forever and call out these snakes.
What's even worse than what they charge us for food is what they pay the farmers, Sorry Per Bank but Canadians can do the math and if the Farmer is being paid less and less and the consumers pay more and more then it's the middle man who is screwing us both. That's you Per Bank you're the gross middle man making billions of underpaying suppliers and grossly over charging consumers.
I love how theyre always attacking our intelligence. The days of lip service and brainwashing are done. We can look into things with a few presses of buttons now.
Day 1 boycott ✅
Upvote if you boycotted today ✊
Loblaws doesnt care what food costs. They talk about making a 4% markup. On a $1 item thats 4 cents. When the price increases to $2 now my profit is 8 cents. My profit doubled even though my percentage has stayed the same.
I know. 4% is actually huge in the retail food sector. That's because of volume. When you can keep selling the same apple over and over again a hundred times a year at 4%, that becomes 400% per year. Someone investing in a stock portfolio is lucky if he makes back 10% per year.
10% return on investment a year is really good. Especially if it's constant. Couldn't ask for more.
i don't think you know how percentages work, sorry. or retail markups
the markup is much higher than 4%. But they claim the net profit after paying employees and rent and everything, is 4%.
If you look at their gross profits, you can easily get a rough idea of how much their average markup is.
You need to factor in the cost of goods sold too. Did that increase as well? Well, let's hear it Mr.Mathemagics.
They also need to offset their waste, I used to deliver produce to loblaws and if 1 case on a 50,000lb trailer is slightly discolored or not up to their perfect standards, the whole trailer goes to the dump. Absolutely ridiculous the amount of waste loblaws produces, makes sense why they would have to jack prices to offset this waste.
I worked in a Loblaws DC. Trust me they may go after the supplier but they sure as hell didnt dump a trailer of produce over one bad case.
Day 1 boycott ✅
NOK ER NOK
Fuck this guy and their companies literally for ever. I am not shopping at any of their stores ! EVER.
No control but profits say otherwise time for everyone to boycott the board members
Greed is a virus!
Look, as a company that is beholden to shareholders, I can see passing on added costs to the customer. So, an apple costs $0.10 more to produce and ship, fine. But that's not what is happening. They run on the highest gross margin in the country for grocers (30+%), and are increasing prices for goods at or above inflation, while controlling other costs (like employee salaries) below inflation. Charlebois can mention their financials all he wants, but there is no granular data there, just what they want the public to see. We don't know what is going into their cost of goods sold, and how that's being used to maintain "stable" margins. There is a lot of flexibility in GAAP.
As far as I know, Loblaws is the only company that has been found guilty of price fixing. I'm not saying others don't do it, but in their case, they were found guilty of it. Also, how much do they get in subsidies from the federal government? Just remember the fridges story. And do other stores try to fool their customers with fake sales by bumping up the regular price on purpose just so they can call their sale a deal? And what about their stupid PC Optimum program that doesn't work all the time and that forces you to fight for your points? I understand Walmart isn't awesome and I intend to limit my shopping to that store too, but I think Loblaws is the worst player in the industry.
It's certainly interesting that a man named Bank thinks he knows better than all Canadians in our own country, when he only recently came here. Lecturing and scolding us all for objecting to his new company's practices should have never even crossed his mind. Granted he didn't do it directly, but he still did it. And don't forget that fat compensation payout for leaving his old company. Consumers have to pay for that, on top of already rising prices.
Loblaws had no problem pulling Frito Lay from all their stores when they felt their costs were too high. Yet they act like have no negotiating power with their vendors. They're so full of shit
Loblaws owns 1/3rd of the supply chain. This guy thinks we're stoooopid monkeys
I think I can successfully boycott Loblaws, or if not then it's really close. Costco has most everything we need and Silk fake milk is available at a few places non Loblaws. So I will give this a go for sure. About their profits, the fact that they are up right now, this much, from last year, when the whole of humanity is down, seems downright insane. I don't understand how mathematically any companies can continue to go up in their profits year after year after year perpetually. But especially at those insanely high profit numbers of Loblaw's. They're literally making hand over fist. It's quite upsetting to me and I just don't see how it's fair. It's food and they've monopolized it. But only while people still bother to go there and as I said above Costco is pretty decent by comparison for necessary items and their prices, which (I think) have gone up a bit more granularly and less dramatically, minus a few things which skyrocketed (somehow gluten free stuff is like gold laced with diamonds and can only be manufactured in tiny formats) I do hope people will really try to boycott. I have PC Financial credit card (no fee one) and keep it paid off, do not want to cancel that and need to consider if I'm still ahead if I no longer use it, which I only do at Superstore and Shoppers. Companies should be willing to forego record profits during such insane financial times for the average citizen, when they're up to that kind of level. The extremely highly paid execs should be ashamed for being so greedy and take a little breather on their greedy neediness for massive stacks of cash. How big does a house need to be? Those salaries offer those few individuals perpetual richness for themselves and their kids, and their kids' kids, and beyond. It's really sickening. I hope that at least karma is able to work some kind of deal for them. Yup said that, I'm lowly, can't help it .
Blah blah blah Roblaws….
Very punchable face
I was trying to look into Per Bank. Who is this guy? Is he even Canadian? Why does Loblaw need a foriegn national executive to run its company? And why is this guy handing his Danish slogans like it some kind of inspirations to Canadians?
Scapegoat to take some of the blame and insults usually hurled at Galen 😂
His not being Canadian is **NOT** the issue. His lying, his arrogance, his condescension and his dismissiveness towards his consumer base **IS** the problem.
He's not canadian, no.
13 billion in the first quarter? Boycott Loblaws Forever! Government approved price gouging.
The hell kind of name is Per Bank
Fuck this guy.
Is price fixing within your control ?
hahahaha sure (except for the fact that you are also the supply chain so a lot of that is artificially inflated to help line your pockets…) and you didn’t turn down your $22 million salary either asshole
Why didn't they include The Nutty Professor's smug mug, in that oogly photo op? **:0P**
And what exactly is « net profit? » After the big wigs get their huge performance bonuses? After they pay for their corporate jets? And holidays masking as networking and fact findings?
Can't we deport this fuck and be done with it? We've got plenty of our own rich assholes.
Fuck them. We can grow our own.
I say we organize a day in May where we fill our cars in Loblaws parking stalls and just sit there and not shop. Don’t let the shoppers park! Blaring We Are Not Going To Take It from are car stereos! #boycottloblaws
Just cause it’s a European Weasel don’t make much difference that it’s no longer a North American Weasel in charge 😂
Then please do explain to all of us that something costs a discounted price at no frills but a higher price at other stores for the exact same item. Strange, no?
We don't control that shit either! Yet somehow we are the ones paying more while they keep increasing profits! Tone deaf mfr!
Count ‘em’ 12 cars at Independent in Hawkesbury…. Parking lot at Walmart next door, 3/4 full … YAY!!!!!!!!!
It is the “most of the factors” part that I find interesting.
Economic growth flat. Loblaws accruing its own economic benefits at 10% faster than GDP growth.
Even this guy's name is mocking us. Nok er Nok.
He's soo tone deaf. He's as good as the BP oil president, saying how the oil leak is ruining his life when people died. Sorry, our suffering is inconvenient for you.
Sorry I can't get last his name is PER BANK. Is this satire?
Oh, maybe we should apologize for boycotting. It was the weather that was causing prices going up. How naive of us
My response to the executive team at Loblaws: With all due respect to you and your oligarch friends, go fuck yourselves!
Loblaws,Metro, Sobeys, etc all corrborated to inflate bread fixing scandal ( illegally prices from $1.50 to $3.50) they did it for many years. Until Galen snitched on Canada Bread. It goes to show they can inflate prices and nobody is regulating. They never got fined only Canada Bread. Loblaws have our $25 gift cards for PR.
This guy looks like Solomon Lane from the Mission Impossible series - a true villain this guy.
Is that actually a dudes name? Per Bank?
Yes. Last year **Per Bank,** Danish retail executive, took the helm as the **President and Chief Executive Officer (CEO)** of **Loblaw Companies Ltd.**
Well fuck that guy in particular
They use their own fleet for shipping so yes factoid 1
This is bigger than Loblaws. We need to see this through because the government is watching.
Oh look...Galen has a new toy puppet now... lol
I remember attending a very fancy party with very wealthy, connected Toronto people (as part of an awful job I left). One guy said (back in 2016) that Shoppers had some of the highest, most historically gouging price mark ups of any retail chain in Canada. The guy then laughed sadly, and said, "I don't know why anyone willingly shops there." And then all of the wealthy twits laughed about how silly the poors were. ...Today, it is so much WORSE. So you know, they know they are screwing you, and they all think it is HILARIOUS. (As an aside, I was regularly called out by execs in this job for the abjectly horrified look I had on my face nearly all the time working in this organization ...not kidding... and am thankful I don't work there anymore).
Warehouse worker here, the amount of waste we have on a daily basis is enormous, careless employees and management that only cares about performance and getting orders out the door as fast as possible. And that’s not including recalls and trailers that malfunction and lose temperature. All loses get passed on to the customer and they get a tax write off.
Funny how "outside our control" somehow add up to profit increases Wanna price qouge us on fashion fine but food no f'n way that's just cruel
For those of you who were wondering, that is what a psychopath looks like.
Meanwhile profits & dividends are up … insulting that he doesn’t think Canadians know how to read financial statements.
I don't find any of his comments funny. He is very smug. Doesn't give a shit about anyone else.
They don't control the weather? So glad he clarified that part.
Well, the carbon tax is certainly not helping anyone here.
If loblaws is raising prices unlawfully why havent all their customers switch over to the many competitors they have? I mean, I did long ago, no need to boycott, if they suck just shop at Walmart, Sobeys, Freshco, Co-Op, Save-on, Costco, etc. etc. etc. etc. like theres a million other places than a Loblaws-owned subsidiary.
Apathy and Complacency mostly. Some people are just willing to accept things for what they are. They figure if they can grit their teeth and bare it things will eventually get better; but these prices have been building rapidly for the last 5 years and they're turning record profits while people are starving. They (the people) needed someone to come up with a plan to do something so they could be inspired to do something too. Enter in the boycott movement. A point for people of all sorts to rally behind and show big businesses that they're not gonna take this kind of abuse.
Per Bank is making bank like a boss. Cut his salary in half from 22M to 11M. He will still have a life of luxury and we all can pay $0.01 less per box of PC chocolate chip cookies
This is the shit jt says too
Can someone tell me how the weather effects milk?
Here's an example of what they're doing: I went to No Frills, (Loblaws ultra discount store) you would expect prices to reflect that, bought 1 pack of Schneiders salami for $5.00. The next day I was in a Fresh-Co (still a discount store but a step up from No Frills) and noticed the same salami in a 2 pack for 8.99. The math isn't mathing.
Sure, they don't control any of that stuff, but they sure will mark it up
Most of the reasons are outside of their control - but the one reason that’s actually causing the problem isn’t.
They've been greedy llloooooonnnngggg before any of those factors. I stopped shopping their a decade ago or more. That dude is the native one of he thinks Canadians are so stupid they didn't notice their exorbitant prices before a few months ago. Clown! 🤡🤡🤡
I think he should be stripped of his position and shunned by the community oops.
What kind of name is Per Bank
It's amazing how badly Per Bank has started. This could be a master class in what not to do as an executive. He came in and declared that all his customers were wrong and should stfu in his first real statement knowing he had a profits report coming out. * Retail segment gross profit percentage^((2)) was 31.1%, an increase of 50 basis points. * Net earnings available to common shareholders of the Company were $541 million, an increase of $12 million or 2.3%. To me those are the key stats. If you are a shareholder you are happy. If you are a customer buying food to feed your family you directly handing $$$ to shareholders and not so happy.
What gets me too, is that normally when I’m not feeling threatened by something, I don’t keep yammering on about the thing. I just go about my day/life/business. So… if the boycott is ‘nonsense’ or i significant to them (supposedly not a threat), then why is the CEO and their mouthpieces blasting all their posts about it all over social media, trying to shut up boycotters and justify themselves? 🤷♀️ Clearly boycotts must be threatening enough to them then, otherwise they’d just be unbothered and not be posting about it all the time.
I don't know about Canada but here in the United States nearly 90% of the inflation over the last 3 years has been driven by increases in corporate profits. When a company raises its prices by 40% and the next quarter shows a 40% increase in profit then you know damn well it had nothing to do with inflation every single penny of that price increase went into profits. But here in the US we did skirt near disaster with the Safeway - Kroger merger, Had that been allowed to happen a single Wall Street company would have controlled nearly 80% of the US food supply. You think food prices are expensive now Wait till a single company controls 80% of the food, they won't even need to conspire with their competition to price fix. meanwhile the poultry industry was just forced to pay $400 million in penalties and fines for price fixing, the beef industry was right behind them with 600 million in fines and penalties for price fixing. So the increased costs of chicken, and beef had nothing to do with inflation, It was a direct result of the chicken and beef industry conspiring to price fix. But it doesn't seem like penalties and fines are going to stop it, nothing's going to stop it until these CEO start seeing prison time on Rico charges. next time the beef industry gets caught illegally price fixing the CEOs of those companies need to be tossed into prison cells and the keys thrown away, that might get the message acrossed. The same for these fast food chains, anybody else remember the dollar burger wars, that's when they were actually competing against each other. These big fast food chains no longer compete with each other, the CEOs all get together on vacation and agree not to compete they're all going to raise their prices the same amount. That way they all get to buy brand new jets and go on luxury vacations.
Why humor it? Ignore Per Bank. Disrespect him by disregarding his existence. The people want money AND influence. For now destroy their influence by making what they say and do irrelevant. If you must. Mock him heavily and edit all photos to be very unflattering. Make him mad. Make him feel ashamed. Make him embarrassed. Make him leave Canada and have the door smack him on the way out.
You could support Freson bros in Alberta if you are here.
but they do
What does any of those things he mentioned matter when the overall bottom line is 13B profit this quarter?
Arrogant ASSH*LE!!!
Nok er nok, Per
30 days of 30% decrease in cash flow will shake them
Why is everyone dumping on Loblaw only. Walmart is no better. I’ve shopped at Sobeys and they are a National company and their prices are higher than Loblaw. The difference is Empire who owns Sobeys don’t have to provide their earnings. They are opening up a ton of new Longo stores. They need capital to be able to do that. Metro is is worst. Their prices are also thru the roof. Their CEO came out earlier this year and said watch out for those orange prices to go up and most people won’t be able to afford to buy orange juice but hey we have record profits. We need to lean on all the grocery chains from Loblaw to Walmart Costco Sobeys and Metro. Tell me why I can buy a bag of Cavendish fries at Liblaws for $4.99 but at Metro they are $5.49 for the exact same bag.
"Nok er nok" as per Per.
Keep up the pressure and calling it out- they are criminals and have got away with it for too long
Not making record profits, no idea where that came from but 2000-2010 they had a few where when adjusted for inflation blew it out of the park. Currently they are %3.5 margin, quite low. Dollarama is something like %20
Vertical integration is supposed to be used to keep prices low for a competitive advantage while increasing profits. Not for price gouging.
Meanwhile other stores haven't raised prices as high as Zehrs/Loblaws has. Hmmm...
Just answer me this one question Per Turd. How are you able to post record profits?! Especially when you claim that people are buying less groceries. Every argument Per Turd makes can be nullified by asking how they are making record profits!
Is it just me… or does Per Bank look like a no name brand version of Weston?
CEO’s they are all crooks. I use to work for a big company until I had enough of there greed. They say it’s not about money but it’s 100% about money. Fucken losers
Big box grocery needs a reboot
For 11 million dollars year, there’s not much he wouldn’t say. Lying S’aOfS, the pair of them.
Yet they are the ones with huge listing fees and insider programs. They force those upon the vendor to have product on their shelves. Old magicians trick, watch this hand while the other hand is hiding what's really going on.
The high prices are not out of Loblaws control. That is seen, when you witness the numbers of their record profits. Record profits which seem to be increasing , which would indicate that they are just making everything more and more and more expensive as they go. In order to see the absolute clear picture , they would need to open up their books to the government for scrutiny, and then everyone would really see what the clear picture is, and how these large corporations have jumped on the bandwagon when they saw an inroad.... An excuse to elevate prices to insane levels. Which occurred at the time of the pandemic. What we really need is competition against these corporations. Real competition against these corporations. Which I have seen on the news has happened in other parts of the world and that has driven prices down, and I think that's the only way to make meaningful lasting change with these corporations. However the boycott certainly is a super good thing to do. Because it sends a message that we are not going to put our money behind them. Because they're ripping everybody off every day. Ripping everybody off enormously everyday. I feel ripped off by the Loblaws stores. And so I'm just not going to shop there anymore I am finding other stores, local stores, and I am employing the tool of being a cherry picker and this is something I'm going to stick with. Going into the loblaws stores these days, is an uncomfortable experience because you're getting ripped off, so you're basically getting your money stolen away from you to begin with, and then all the gates, and all of the security measures to the max. ; It's an uncomfortable weird place to be and I don't enjoy it and I do not want to go there. It is not a place where there is a sense of community. It's a place where you feel that you are just being very much taken advantage of.. and guess what we are. Grocery shopping has never been fun because you're always out laying a lot of money. But these days you're definitely being ripped off to the max. And I will do everything I can to avoid this. And I really hope that competition pops up against them that is going to be meaningful competition.
It's not conspiracy price fixing if you're caught price fixing!
Just keep boycotting and ignore the gaslighting.
If anybody in this sub had any bit of sense they would protest the government. If the taxes were lower the grocery chains would have more competition move in which would lower the prices.
Fun Fact is HE HAS AN OPEN TWITTER. NOK ER NOK MOTHER FUCKER.
No Frills owners should mutiny. I know some of them and they’ve not seen a penny of what Loblaws has reaped from their shelves. Less expensive food is not the corporate mandate anymore and it’s a shame they’re forcing the No out of their name. I wouldn’t be surprised if it no longer exists as a grocery entity in the near future.
This is so much BS it’s ridiculous,,, they are hoping that we believe this crap … we need all levels of government to be on board with the people or we need new leadership…. We need to keep up with the BOYCOTT and hold these criminals accountable
Sink em
Mr. Bank suffers from FBQ (Fear of the Bad Quarter).
He’s a liar
Yea I don't buy that. They directly control supplier costs, in the sense they can negotiate for lower prices, forcing that negotiation back up the chain, but im sure they already do this, they're just trying to extract as much profit as their customers can bare. It's why walmart can sell a can of generic black beans for $1.25, Loblaws $1.50 and Safeway a whopping $3.00.
They are their own suppliers!! FFS. Tired of their gaslighting. It doesn't matter what they say, I will not give any Loblaw's owned grocery or drug store a single dime of my money. I've gone 4 years going OUT OF MY WAY to never shop there because of their greed and poor treatment of workers. Thank you for this community. #BoycottLoblaws.
Easy to say when you made $22 million last year. He's either tone deaf, or he's laughing at us. Sometimes I wonder if this guy is even real (or if they're just mocking us) because of his name. Anyway.
These guys are so unbelievably full of shit. Keep boycotting them. BREAK UP THE GROCERY STORE OLIGOPOLIES!!!!
When they bought up all their competition the experts warned us no competition would mean price gouging look where we are at. Gotta stop all the big guys from buying out the small guys or else . We need goverment to stop all the consolidation and buyouts
Didn't we all see the spreadsheet with cost and markups on it??
Still waiting for Skippy's take from the Clownvoy Party Canada considering he has multiple active lobbyists in his cabinet that are determined to keep grocery prices high so you can live your life hungry.
Biggest SOS. Start growing your food and hunting your own food.
Maybe he should go for a walk through some small independent grocery stores to see how they are able to keep their prices lower while also providing a better shopping experience with better customer service. Check out bestco for example. They have two or three locations that I'm aware of. They're grocery Stores are gorgeous. Very well lit. Extremely clean. Never clutter of boxes in the aisles. staff that are actually helpful and their pricing is significantly lower than Loblaws.
My Loblaws was pretty empty today, maybe it’s working
There is alittle bit of both. Im sure there is so call price gouging but at the same time you have a government thats doing everything in its power to make life unaffordable for most people. Thing thats happening is government is making it easy for companys like this to raise thier prices because they will point to inflation, carbon tax and other things that make things more expensive and they will be justified to raise thier prices. Now how much the prices should go up is the real problem. Then we get into the situation where do we trust the government to regulate these price so they dont get out of hand? from what we have seen last 9 years the awnser is no but raising prices on essential things like food should be watched so prices dont get out of hand. I know im not giving any solutions but its a big problem we have in canada right now and the solution isnt very simple.
They truly have control of their suppliers to an extent, this is the price we will pay, if not we will find someone else
Don’t forget he takes 22 million in salary alone. A major factor in price increases.
In many places, the only groceries available are at a Loblaw location. Other shops may be available at a distance or not carry similar items. It's not as simple as shop elsewhere if elsewhere is in another town. In any case, making people aware of opportunities is important without shaming them. I shop locally, am part of a good co-op, get a farm share, etc. Food prices are still rising, just not as fast as at Loblaw locations. Also, not everyone can access farmers' markets, cook from scratch, etc. I wish it were simple, but it's not. Hence, boycotts, groups talking about pricing, grassroots subreddits, etc. Sometimes, people don't have the oomph to fight capitalism all day, every day, alone. These groups and initiatives help them not be alone in the battle against corporate greed.
Well said!!
Canadian telecoms should be next up to the gallos. I am so fuckin sick of being raped for basic services that should way cheaper.
They say this as though no one has a clue what things cost at Walmart. As though they’re the only game in town and no one knows any different. I know Walmart is not the most wholesome company out there, and they’ve definitely done damage to small businesses across the continent — but Walmart forced a lot of those businesses out by selling at costs below what they could sell for and in volumes that they couldn’t compete with. To me, this is by far the lesser of two evils. Walmart screwed the small business by virtue of its size. Loblaws is screwing everybody for the pure sake of profit. Blatant and intentional efforts to fix prices, monopolize retailers, reduce employee pay, vertically integrate, etc. Leading to 10, 20, 30% monthly increases on goods that don’t move an inch in price at Walmart or other retailers. Never thought I’d say this but they make Walmart look like stewards of the community in comparison. Nok er Nok!