14:37:36 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Loblaw Companies Ltd
Symbol L
Shares Issued 313,125,278
Close 2023-12-19 C$ 122.24
Market Cap C$ 38,276,433,983
Recent Sedar Documents

Globe says Loblaw boss accused of feeding MPs malarkey

2023-12-20 06:56 ET - In the News

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The Globe and Mail reports in its Wednesday edition that groups representing food suppliers and independent grocers are accusing Loblaw chairman Galen Weston of providing inaccurate information to members of Parliament this month. The Globe's Susan Krashinsky writes that industry groups have worked for two years to develop a code that would govern relationships between grocery retailers and their suppliers. Loblaw and Walmart have said they will not sign the code. On Dec. 7, Mr. Weston appeared at a House agriculture committee meeting in Ottawa, saying the code as it stands could contribute to higher food prices. Mr. Weston cited the experience of retailers in Australia, where a code is already in place. Mr. Weston told MPs that in disputes over manufacturers' requests for increases in product costs in Australia, the mechanism supported those increases "essentially 100 per cent" of the time. Other industry groups say Mr. Weston's statements are not accurate. "There is no third party mechanism involved in the cost price increase process," Australian Food and Grocery Council deputy head Samantha Blake wrote. Ms. Blake added that she had watched a video of Mr. Weston's appearance, "and am equally baffled by the comments."

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