“We’ve listened to the feedback from our customers and colleagues and are reverting [where it existed before] to the 50 per cent off discounts,” the company, whose stores include Atlantic Superstore, No Frills, Dominion and Freshmart to name a few, told CBC News in an email on Friday.
“In the Atlantic, we had not implemented the change and will not. In the rest of the country, customers can expect to see 50 per cent stickers returning in the next few weeks.”
They’re all crooks
2023 THIRD QUARTER HIGHLIGHTS
Revenue was $18,265 million, an increase of $877 million, or 5.0%.
Retail segment sales were $17,982 million, an increase of $852 million, or 5.0%.
Food Retail (Loblaw) same-stores sales increased by 4.5%.
Drug Retail (Shoppers Drug Mart) same-store sales increased by 4.6%, with front store same-store sales growth of 1.8% and pharmacy same-store sales growth of 7.4%.
E-commerce sales increased by 13.6%.
Operating income was $1,065 million, an increase of $74 million, or 7.5%.
Adjusted EBITDA(2) was $1,926 million, an increase of $80 million, or 4.3%.
Retail segment adjusted gross profit percentage(2) was 30.6%, a decrease of 20 basis points.
Net earnings available to common shareholders of the Company were $621 million, an increase of $65 million or 11.7%. Diluted net earnings per common share were $1.95, an increase of $0.26, or 15.4%.
Adjusted net earnings available to common shareholders of the Company(2) were $719 million, an increase of $56 million, or 8.4%.
Adjusted diluted net earnings per common share(2) were $2.26, an increase of $0.25 or 12.4%.
Repurchased for cancellation 2.9 million common shares at a cost of $341 million and invested $676 million in capital expenditures, net of proceeds from property disposals. Free cash flow(2) used in the Retail segment was $663 million.
And they want us to pay more? Fuck Loblaws and fuck the rest;
Atlantic Superstore, Dominion, Loblaws, Maxi, No Frills, Provigo Le Marché, Valu-Mart, Real Canadian Superstore, Wholesale Club, Your Independent Grocer and Zehrs.
Safeway never did it. At least not the one I go to and I’m there 2-3 days a week. Just bought stewing beef with a 5$ off that was expiring next day.
“I think that’s just wonderful news and isn’t it good news to think that a large company like Loblaws is able to listen to the customers and react and do the right thing. I can’t be more complimentary to them in terms of being able to see the light on this issue,” VanGorder said.
This guy has lost his fucking mind
Good on Loblaws for… not going through something really scummy? Am I supposed to be happy about this?
At least it shows we (as in Canadians) have some say in it, but hopefully people will catch on to how brazen Loblaw’s ideas are that are designed to screw us over.
I bet this was their plan all along.
- Make a small but obvious change that the public will grab onto as an icon of grocery store greed.
- Wait for public outrage
- roll back the change
Now the public has “a win” and feel like they’ve accomplished something, even though we’re exactly where we were a week ago
Bob Loblaw
