Not even Loblaw, Canada’s biggest grocer, is prepared to stick to its earnings forecast

📆 2020/04/10 7:18:00
📰 nationalpost

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Loblaw reports higher sales, but also higher costs related to additional staffing, cleaning and security, and temporary pay premiums

Loblaw Cos., Canada’s biggest grocer and the owner of the Shoppers Drug Mart pharmacy chain, withdrew its outlook for the year on Thursday because of the volatility triggered by the coronavirus pandemic.

“In light of the uncertainty about the duration and impacts of the COVID-19 pandemic on the Canadian economy, we can expect the volatility in our business to continue,” Executive Chairman Galen Weston said.

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Here's the thing - in uncertain times - less trips to a public grocery store - less impulse buying.

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