Loblaw leaders say boycott campaign, criticism of company ‘misguided’

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At company AGM, Chairman Galen Weston and CEO Per Bank claim misinformation leads to accusations grocery retailer is profiteering

Loblaw CEO Per Bank says higher traffic at its grocery retailers, including No Frills, is proof that customers see value in Loblaw’s stores.are an example of “misguided criticism,” chairman Galen Weston said on Thursday, as he pushed back against demands to reduce food prices.

But Mr. Weston and Loblaw CEO Per Bank both called out accusations of profiteering as misinformation during their remarks at the meeting. The rate at which food prices are rising has slowed recently, with food inflation 1.9 per cent higher in March compared with the prior year, according to Statistics Canada. That is a marked improvement compared to peaks of around 11 per cent early last year, but does not change the fact that grocery prices are now much higher than they were just a couple of years ago.That has had an impact on Canadians’ household budgets, and led to widespread anger.

The moderators of that page have distanced themselves from some online who are encouraging people to steal from Loblaw stores, writing on the page that they are not associated with those messages and condemn “all illegal activity.”“There’s a group of people who have been relentlessly propagating a narrative they know is false, and it is now being used to justify theft on a grand scale,” he said. Loblaw’s CEO echoed that sentiment.The meeting occurred the day after the Brampton, Ont.

 

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