06:11:21 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Metro Inc
Symbol MRU
Shares Issued 227,223,950
Close 2024-01-17 C$ 68.51
Market Cap C$ 15,567,112,815
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FP/CP say Loblaw cuts discounts on items nearing expiry

2024-01-18 08:09 ET - In the News

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

The Financial Post reports in its Thursday, Jan. 18, edition that Loblaw's decision to reduce steep discounts on soon-to-expire food is a move to match its competitors as the demand for marked-down groceries rises, experts say. A Canadian Press dispatch to the Post reports that until recently, Loblaw offered last-day discounts of up to 50 per cent on items nearing expiry. The grocer said Monday it now offers 30 per cent off on last-day sale items across the board to be more predictable and consistent. Lisa Hutcheson, a retail analyst at J.C. Williams Group, said Tuesday that the shift in discounts is in line with competitors that typically offer a 30- to 50-per-cent window on items nearing expiry. Competitors including Metro have been offering discounts in the 30-per-cent range for a long time. A Metro spokesman said the grocer has been marking its nearly expired food items with up to 30 per cent off for more than two decades. Ms. Hutcheson said demand for discounted food items has gone up, giving more wiggle room to grocers to sell items at a lowered discount rate. "What drives markdowns for retailers is whether it's selling or not," she said.

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