Loblaw calls out ongoing 'outsized' price hikes from big brand-name food companies

Canada'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.

His comments come after Loblaw Companies Ltd. said cost hikes from suppliers appear out of sync with the commodity cost environment, and are contributing to elevated food inflation in Canada. The grocer made the decision to highlight the ongoing oversized price increases as it's "one of the big drivers of cost inflation that we are seeing," Loblaw chairman and president Galen Weston said.

Many big food makers with headquarters outside of Canada are continuing to pass along significant price increases to retailers.

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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
منبع: TheTorontoSun - 🏆 23. / 68 ادامه مطلب »

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.
منبع: CTVNews - 🏆 1. / 99 ادامه مطلب »