05:15:54 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Empire Company Ltd
Symbol EMP
Shares Issued 154,089,235
Close 2023-06-27 C$ 36.41
Market Cap C$ 5,610,389,046
Recent Sedar Documents

Globe says Metro, rivals hear call for more competition

2023-06-28 07:39 ET - In the News

See In the News (C-MRU) Metro Inc

The Globe and Mail reports in its Wednesday, June 28, edition that Canada's grocery industry has seen significant consolidation over the years, and five grocers now control roughly 80 per cent of the retail market. The Globe's Susan Krashinsky Robertson writes that Canada's retail grocery industry is too concentrated to give consumers adequate choices, lower prices and higher-quality goods and services, says a new report from Canada's consumer watchdog. The study of the grocery market launched this past October and released Tuesday by the federal Competition Bureau makes a number of recommendations to government on how to address the issue, including introducing policies to encourage international retailers to enter Canada and boost competitiveness of the sector. The report states: "Governments at all levels need to take steps to encourage and support more grocery competition in Canada. ... Canada needs solutions to help bring grocery prices in check. More competition is a key part of the answer." The report points out that Canada's three largest grocers -- Loblaw, Empire's Sobeys and Metro -- last year made profits totalling more than $3.6-billion on more than $100-billion in sales.

© 2024 Canjex Publishing Ltd. All rights reserved.