15:11:42 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Loblaw Companies Ltd
Symbol L
Shares Issued 310,526,379
Close 2024-01-18 C$ 135.00
Market Cap C$ 41,921,061,165
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Globe/CP say NDP MP suspicious of new Loblaw pricing

2024-01-19 08:23 ET - In the News

Also In the News (C-MRU) Metro Inc

The Globe and Mail reports in its Friday, Jan. 19, edition that Loblaw's move to reduce discounts on last-day sale items is a normal practice in the industry, not a sign of collusion, says Michael Osborne, the chairman of the Canadian competition practice at law firm Cozen O'Connor. A Canadian Press dispatch to The Globe reports that Mr. Osborne says, "It's perfectly lawful to observe the prices that your competitor is charging, to observe the discounts that they have, and to just follow suit on your own." His comments came after NDP MP Alistair MacGregor asked the competition commissioner to investigate a recent change in discount practices at Canada's largest retailer. News broke this week that Loblaw would no longer offer discounts of up to 50 per cent on items nearing expiry, instead marking them down by 30 per cent across the board. Mr. MacGregor says that comments by Loblaw indicated they changed their discount to align with their competitors, and that this was cause for suspicion. CP notes Metro has been marking down expiring foods by up to 30 per cent for more than two decades. J.C. Williams Group retail analyst Lisa Hutcheson says Loblaw's shift to 30 per cent is in line with its competitors.

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