The Canadian grocery giant behind Sobeys, Safeway and FreshCo on Thursday is raising its dividend for shareholders after profits spiked during the coronavirus pandemic.
“As provinces execute their reopening plans and customer behaviour shifts, we felt that this was a natural time to end our Hero Pay program,” Medline said in a letter to staff on June 12, a day after Loblaw Cos. Ltd. and Metro Inc. announced they were ending their $2/hour bonuses. Empire on Thursday also said it was increasing its quarterly dividend by 8.3 per cent to 13 cents a share.
By late March, comparable sales growth had calmed down, but was still “significantly above prior year levels, Empire said. Overall comparable sales grew 18 per cent during the quarter, not counting a 40 per cent decline in fuel, compared to 3.8 per cent growth a year ago. RBC analyst Irene said in a note to clients that Empire’s stable of stores is heavy on the big-box, conventional model, making the chain “extremely well-positioned” for the shift toward one-stop, once-a-week grocery shopping.
Corporate 🐖🐖
You can never count on ANY corporation to do the right thing. The only things that matter are share value and keeping shareholders happy. sobeys is garbage -boycott if feasible
Not very good optics or values...
WTF National Post! That’s a story I expect to see on the fake news CBC.
So what's the solution? 20$ minimum wage? Everyone shop elsewhere? In many small towns they are the only grocery store how can you boycott?
A company makes more money when it spends less. News!
Good. The primary goal of a corporation is to maximize the wealth of its shareholders.
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