10:59:30 EDT Wed 15 Apr 2026
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Empire Company Ltd
Symbol EMP
Shares Issued 127,216,042
Close 2026-04-14 C$ 47.46
Market Cap C$ 6,037,673,353
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Globe says Metro, rivals hear gov't wants to meddle

2026-04-15 08:02 ET - In the News

See In the News (C-MRU) Metro Inc

The Globe and Mail reports in its Wednesday, April 15, edition that Toronto City Council received a cautionary letter from the food bank Daily Bread before voting on a pilot project for municipally run grocery stores. A Globe editorial says the letter noted that with grocery margins at only 3 to 5 per cent, a city-run model would save residents only $11 to $18 per month, likely less after operating costs. These savings would not significantly ease the burden of high food prices without additional subsidies. Daily Bread has fought for more than 40 years to end hunger and poverty. The idea of publicly owned grocery stores appeals to many Canadians facing high food prices, but it distracts from the structural changes needed to address food affordability. Toronto's council proposes waiving the grocery stores' property taxes and development charges, a de facto acknowledgment that these costs drive up prices for businesses and customers. It is unclear if these stores would occupy city-owned buildings and avoid the need to pay for rent. Public grocery stores might be a grabby idea for getting attention on social media, but it's a simplistic policy that should be left on the shelf.

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