Loblaw CFO: We are doing everything we can to keep prices low
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- čas přidán 2. 05. 2024
- Richard Dufresne, chief financial officer at Loblaw, and president and chief financial officer at George Weston Limited, joins BNN Bloomberg to discuss how the grocer is navigating food inflation and plans to expand its discount business.
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Why does Loblaws lie so much?
The Canadian government needs to force Loblaws to break up it's oligopoly. Enough is enough.
That's never going to happen with Trudeau in office.
@@JessT-vg7ibthat's never going to happen unless you want Canada to become a communism country
Canadian anti trust laws have no teeth , talk to your mpp to force this change ,it wont change till you ask them to enforce this change.
If your government keeps increasing the price of gas, with the carbon tax hikes, the transportation of goods will keep going up. They can not force with one hand when they are strangling the producers with the other one.
Keep prices down and profits up? How does that work?
In particular the huge profits they report. If profits were near zero, I would accept their reasons to keep prices going up, but with that huge money in share holders hands, the equation does not add up.
One of the most profitable items in Superstore is make up and face products. The mark up on them is big but still less then Shoppers.
I worked at a small chain grocery store in the 90s and the profit margin was 2 or 3 %. Correct me if I'm wrong but the profit margins have drastically increased since then especially now that most of the grocery stores are publicly traded.
This is meaningless targeting without any good reason. Do you really think prices will be lower with smaller players
The focus should be more on reducing government fat and some of their stupid policies than going after the few successful companies left in the country. Allow other players for sure but it is ridiculous the way Loblaw is being targeted. I don't see prices in NoFrills very different from Costco or Walmart if you do not always buy in bulk . Only Aldi in the US offered a much better pricing
Maybe they should stand up and say something to the GOC.
It's funny that when customers complained and asked for help we were told sorry, deal with it, are to feel bad cause we made better choices ? I have always supported local and grow and raise as much food and stuff we can every year. I will only go to any chain store for sales
Lol this is the best pr they came up with, share prices would like to differ
Folks, it’s time to shed this attitude that any successful person or company is BAD!
It’s your dollar, you get to choose where you spend it. There’s competition in groceries, banking, gas stations., etc shop wherever you want to. 🤷♂️
Actually there isn't. Not much anyways. The retail grocery industry and distribution networks here are an oligopoly. Your only option if you want to avoid these large players is maybe walmart. But then it's walmart.
@@marc37921 Do you actually think a smaller scale business is going to be able to offer quality food at lower prices? Independents, farmers markets, and specialty stores may offer unique options or possibly equal or better quality but unlikely lower cost.
they charge 2 to 4 times the price for fresh produce than local produce markets. It is a shame for the small towns with not much competition with smaller produce markets. Loblaw should be ashamed of themselves , the other large supermarkets as well.
No you are NOT when people are suffering than companies need to adjust there profit margins! One side CAN'T take the hit all the time!!!
Blame inflasion on the government's inflationary fiscal and monetary policies.
Are they tho .. are they doing everything to bring down prices??
They good at lying, why there no name stuff are more expensive the great value ? 1,33 for a no name cola vs 0.97 gv cola. that list is very long.
Still record profits!
lmao comparing us to others doesnt do anything for us ....but hooray on your well panned speech lol.... you clearly price gouging ... your calculations are def off...dont take people word for facts ..." oh well he said they are doing everything{" so they are trying lmaooooooo
Wow investors are loving how the buisness can suck up poeples money.
The CFO understands what canadians are going though. He really has his fingers on the pulse of the everyman.
Bunch of lies.
dude needs a hair cut.....