19:50:08 EDT Thu 31 Oct 2024
Enter Symbol
or Name
USA
CA



Loblaw Companies Ltd
Symbol L
Shares Issued 306,737,513
Close 2024-05-08 C$ 156.75
Market Cap C$ 48,081,105,163
Recent Sedar Documents

NP says a non-profit Loblaw could save you $3

2024-05-08 08:33 ET - In the News

The National Post reports in its Wednesday edition that the NDP has endorsed an attempted month-long boycott of all grocery stores owned by Loblaw. The Post's Tristin Hopper writes that in the House of Commons, NDP Leader Jagmeet Singh stated that consumers were forced into their position because the Prime Minister refused to take on the corporate greed driving up prices for Canadians. The NDP's Matthew Green also sponsored an anti-Loblaw petition by boycott organizers, which sought to explore the possibility of implementing price controls. It is not clear if the boycott is having a measurable effect on Loblaw sales. The boycott has been organized through a Reddit group, "Loblaws Is Out of Control," which has 73,000 members -- only a fraction of the estimated 10 million Canadians who source their food from a Loblaw subsidiary. The boycott is demanding an immediate 15-per-cent price reduction, as well as price controls across the entire food industry. However, what if they were to take it a step further and demand the complete elimination of Loblaw profits, force them to become a non-profit and channel any net earnings into reducing prices? The result would be about $3 in weekly savings for the average consumer.

© 2024 Canjex Publishing Ltd. All rights reserved.