Loblaw’s senior vice-president of retail finance, said the company has been sheltering Canadian consumers from large food manufacturers all looking to charge more at the wholesale level to recoup higher fuel and ingredient costs.
and rewarding their shareholders at a time when grocery bills are rising at the fastest rate in four decades. Amid the blowback this fall, the House of Commons agriculture committee opted to investigate, vowing to summon grocery executives and other experts to explain why costs are going up while “while large chains are making profits.”
“I can assure you this is completely untrue in Empire’s case,” said Pierre St-Laurent, the company’s chief operating officer.That spirit of defiance among the grocers was in evidence again at the committee meeting. In one of the most notable exchanges during the two-hour session on Parliament Hill, a top Loblaw executive shifted blame for the spike in food prices to the companies that make it.
“We’ve pushed back about half a billion dollars of added costs this year,” Hussain said via video link.this spring, when the global food giant pulled its line of Frito-Lay and Quaker products from Loblaw shelves in a pricing dispute.
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Loblaw says it's saved Canadians $500 million this year by preventing bogus price hikesLoblaw has sheltered consumers from manufacturers\u0027 price hikes, executive says at corporate greed and food inflation committee. Read more.
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Loblaw says it's saved Canadians $500 million this year by preventing bogus price hikesLoblaw has sheltered consumers from manufacturers\u0027 price hikes, executive says at corporate greed and food inflation committee. Read more.
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Loblaw says it's saved Canadians $500 million this year by preventing bogus price hikesLoblaw has sheltered consumers from manufacturers\u0027 price hikes, executive says at corporate greed and food inflation committee. Read more.
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