10:17:02 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



George Weston Ltd
Symbol WN
Shares Issued 128,101,218
Close 2014-07-29 C$ 86.96
Market Cap C$ 11,139,681,917
Recent Sedar Documents

FP/CP say Weston baking new ways to lure in customers

2014-07-30 08:47 ET - In the News

Also In the News (C-L) Loblaw Companies Ltd

The Financial Post reports in its Wednesday, July 30, edition that George Weston ($86.96) is placing its bets on gluten-free baked goods as a way to lure in more customers in a heated Canadian grocery market, amid a second quarter loss that was impacted by the acquisition of Shoppers Drug Mart by its subsidiary, Loblaw ($53.64). A Canadian Press dispatch to the Post reports that George Weston president Pavi Binning says the company knows it needs to quickly adapt to changing customer preferences if it wants to succeed. Mr. Binning says, "Innovation is critical in this business." Increasing its gluten-free products would appeal to those who are sensitive to gluten, a protein composite found in wheat, barley and rye, explains CP. The company also wants to increase its focus on its Ace Bakery breads, along with cakes, doughnuts and pies as it competes with Empire's Sobeys, Metro and Costco as well as United States banners Wal-Mart and Target for consumers' loyalty. George Weston's quarter loss amounted to $208-million or $1.71 per share for the three-month period ended June 14. That compared with a profit of $97-million or 68 cents in the same quarter last year. Adjusted earnings were $1.26 compared with $1.08.

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