05:03:26 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Empire Company Ltd
Symbol EMP
Shares Issued 151,912,608
Close 2023-09-20 C$ 36.98
Market Cap C$ 5,617,728,244
Recent Sedar Documents

NP says Loblaw, rivals see Grits play the blame game

2023-09-20 07:39 ET - In the News

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

The National Post reports in its Wednesday, Sept. 20, edition that the federal Liberal government engaged in political theatre on Monday by summoning the chief executive officers of Canada's largest grocery chains for a meeting with Industry Minister Francois-Philippe Champagne. The Post's John Ivison writes that the Liberals have made some incremental changes that will tinker around the edges with housing and food prices. He says the Liberals are gambling that it is not how you play the game, it is all about how you pin the blame. Loblaw CEO Galen Weston was one of those forced to do the perp walk before the cameras on Monday, on his way to meet Mr. Champagne. The Post notes that politicians are falling over themselves to attack imaginary hobgoblins. Indeed, grocery prices have increased ahead of inflation but studies by both the Bank of Canada and the Competition Bureau have failed to find evidence of price gouging in recent months. BOC's research looked at whether firms had exploited their market power to raise prices more than their costs increased. It found that the markup on groceries accounted for less than one-10th of inflation in 2021 and that markups were flat or fell in 2022.

© 2024 Canjex Publishing Ltd. All rights reserved.