19:43:35 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 228,856,490
Close 2023-11-15 C$ 70.43
Market Cap C$ 16,118,362,591
Recent Sedar Documents

Globe says Metro, Loblaw push back against criticism

2023-11-16 07:50 ET - In the News

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

The Globe and Mail reports in its Thursday, Nov. 16, edition that Loblaw and Metro announced quarterly sales and profit increases on Wednesday, while pushing back against criticism that they are not doing enough to fight food inflation. The Globe's Susan Krashinsky Robertson writes that executives from both retailers said they are negotiating with suppliers who continue to ask for further price increases on their products. Substantial price hikes over the past two years have severely affected household budgets, causing customers to change their shopping habits. Loblaw and Metro both benefited from that trend, as customers flocked to their discount grocery banners, looking for some relief. "Overall affordability remains a pressing issue on Canadians' minds, and lower food prices remain a top priority for us throughout the business -- from our stores, to our supply chain, to our suppliers," Loblaw board chairman Galen Weston said during his final conference call with analysts to discuss the company's financial results. Mr. Weston repeated his assertion that grocers are not to blame for high food prices. He added on Wednesday that retailers "are unable to resolve inflationary pressures on our own."

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