The company's quarterly profit was $459 million, marking a 9.8 per cent increase.
This is far, far more important than their revenue.
The company is run by thieves.
this post was submitted on 01 May 2024
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Revenue was up 4.5% and profit was up 10%... so they cranked up their margin, nice. Greedflation indeed.
Would love to see the same figures for Sobeys/Safeway and others, cause I swear their veg has doubled in price in 3 years.
Yeah this is the real news. Doesn't matter how much revenue they are making, but artificially inflating the margin is literally greed and should be used as a proof of oligopolistic move by antitrust orgs to break them up.
why are you counting another man's hard earn money?
do you hate freedom and the divine right to fuck poors?
Locally they arn't even as expensive as Safeway (Sobleys) or Save-On-Foods (Jim Pattison Group) stores. Hell Last time I tried to shop at a safeway as I was staying somewhere else it was 20% more expensive than Superstore (Loblaws)
That’s the thing… what’s a Loblaw’s boycott going to do to solve the problem with the other major chains? I only ever see Loblaws reported on.
Nothing but help the other major chains, which makes me wonder who’s behind this boycott?
I was trying to find out who the admins are of the Facebook group pushing this boycott locally. Turns out it’s two accounts with fake names that are only a few months old, one of which only has one friend. 🤔
Independent grocers can potentially compete. There's a great one in my small town, and I had lots of options when I lived in Toronto.
Costco treats their employees and customers pretty well (but I've heard they're not amazing to their suppliers since they push returns costs onto them?)
It's not as convenient, and not quite as cheap, but I could pretty easily exclusively shop at Costco and a few small independent stores. My wife and I already joined the boycott bandwagon. We're not using our PCF MC this month, either.
... it was 20% more expensive than Superstore
And that's part of the problem. ALL the major players are scamming the hell out of us and the gov't does sfa about it. Calling them into parliament for questioning means nothing if the gov't doesn't demand to see their books as well.
Link to our own Lemmy discussion thread I posted on boycotting Loblaws.
Did anyone have a community link where something could be organized here?
That is utterly insane.
4.5% increase in a market that for sure didn't grow 4.5% is surely impressive considering they said they didn't take bigger margins on the products
How are Safeway and Sobeys doing?
Is that all? Galen isn't even trying. He needs to put the x in exploitation.