Loblaw backs away from plan to end 50% discount on food nearing best-before date

Oderus, 5 months ago

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.