23:35:26 EDT Thu 09 May 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,806,039,020
Close 2024-02-02 C$ 29.44
Market Cap C$ 53,169,788,749
Recent Sedar Documents

Globe says Loblaw stumbles as it tries to rebuild trust

2024-02-05 08:13 ET - In the News

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

The Globe and Mail reports in its Saturday, Feb. 3, edition that there are many things Loblaw chief executive officer Per Bank is willing to do, but going on TV, like his predecessor and controlling shareholder Galen Weston used to do, is not one of them. The Globe's Susan Krashinsky Robertson writes that Mr. Bank says part of his job is to rebuild trust with customers. Of the company's image, Mr. Bank says: "I'm not pleased with where we are. Some of the things where we're giving to customers, giving them more value, I think that will help. And doing more of the right thing." To buff its image, Loblaw launched a new promotional program that slashes prices on four items for the month of February. Loblaw plans to offer deep discounts on a handful of products each month. Loblaw, however, triggered a blowback last week when news emerged it had struck a deal with insurer Manulife Financial that would restrict people to filling prescriptions for approximately 260 specialty medications through Shoppers Drug Mart and other Loblaw-owned pharmacies. Federal Industry Minister Francois-Philippe Champagne says he is reviewing the arrangement. He says the grocers are not getting the message, "We want more competition in this country."

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