this post was submitted on 03 May 2024
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Galen Weston calls Loblaw boycott 'misguided criticism', says grocer not responsible for higher prices (ca.finance.yahoo.com)
submitted 6 months ago by lautan@lemmy.ca to c/canada@lemmy.ca
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"Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what's actually driving food prices higher in this country."

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[–] applepie@kbin.social 3 points 6 months ago (1 children)

Do you think their profit margin is shrinking here?

[–] eezeebee@lemmy.ca 10 points 6 months ago* (last edited 6 months ago)

I don't think the person you're replying to is defending Loblaws, just saying we need to look at the right numbers to correctly call bullshit.

Here,

The company's quarterly profit was $459 million, marking a 9.8 per cent increase.

Source: https://www.cbc.ca/news/business/loblaw-q1-revenue-boycott-1.7190272