Loblaw reported a profit of $418 million in its first quarter, down from $437 million last year when the company saw a one-time gain from a court ruling. Revenue for the 12-week period totalled nearly $13 billion, up from nearly $12.3 billion a year earlier.
“We did not pass the full amount of cost inflation to customers, leading to food gross margin declines yet again this quarter.” PepsiCo Inc., the company behind products like Tropicana orange juice and Lay’s chips, increased prices 16 per cent in its latest quarter, helping boost its profit by 18 per cent, it said last month.
Loblaw raised its dividend 10 per cent as it reported its first quarter earnings, saying it will now pay a quarterly dividend of 44.6 cents per share, up from 40.5 cents per share.
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Loblaw calls out ongoing 'outsized' price hikes from big brand-name food companiesCanada's largest grocer says its product costs have risen by nearly $1 billion so far this year — double the historic norm — as it continues to see 'outsized' price increases from big multinational food brands. Loblaw Companies Ltd. said Wednesday the cost hikes appear out of sync with the commodity cost environment, and are contributing to elevated food inflation in Canada. While small- and medium-sized Canadian food suppliers appear to be 'catching up on costs,' the price increases passed on b
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Loblaw Companies reports $418M Q1 profit, raises quarterly dividend 10%Revenue for the 12\u002Dweek period totalled nearly $13 billion, up from nearly $12.3 billion a year earlier
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Loblaw Companies reports $418M Q1 profit, raises quarterly dividendLoblaw Companies Ltd. raised its dividend 10 per cent as it reported a profit available to common shareholders of $418 million for its first quarter.
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