“Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what’s actually driving food prices higher in this country.”
Loblaws literally just announced their quarterly results which included a 9.8% increase in profit year over year. Unless they are claiming that the incrsased profit comes from goods that aren’t food then Weston is lying through his teeth.
Unfortunately for consumers the company cares about their shareholders first and don’t give a shit about those who can’t afford to eat.
In about a hundred years … shareholders will weigh the dead bodies of consumers to see how much more profit they can render from a lifeless corpse.
I’d like to hear him deliver a detailed analysis of how sky rocketing food prices has no bearing on Loblaws record setting corporate profits.
Him explaining
If they aren’t the problem … then the boycott shouldn’t be a problem for them then.
If you’ve done nothing wrong, then nothing bad should happen to you.
I think they have done something wrong but what is going on with this logic?
This is like saying that you are going to drown somebody to see if they are a witch, burning them if they survive, and telling them “if you’ve done nothing wrong, then nothing bad should happen to you”. If they have done nothing wrong, you are still going to murder them. Seems bad.
How is starving their business and trashing their reputation not “bad” for Loblaws regardless of how deserving they are? Again, I think they probably deserve it but the confusion of ideas in this comment makes my head spin.
it was sarcasm
If anything on Weston’s part … it’s an admission that they do have something to do with all this. If their profits are so good, a boycott wouldn’t be so threatening to them. But the possibility of a boycott has them scared so they have to make a statement about it all.
And a boycott to his business wouldn’t exactly hurt his wealth or endanger his life any way. A major well organized boycott could probably severely affect his businesses to the point of shutting some of them down … but I don’t see that happening. More than likely, the boycott will be a half-hearted attempt by Canadians and it will just mean a small decrease in the company’s profits.
In the end the boycott will just mean his family wealth will be $8,399,000,000 instead of $8,400,000,000
I don’t think it will cause his family to lose their ability to eat … unlike many Canadians across the country who can’t afford to buy their own food.
“If you’ve done nothing wrong, then the angry mob I’ve riled up by telling them you’re a child murderer won’t hurt you.”
This isn’t a defense of Loblaws. Your thinking is just wildly wrong, and inherently blames victims.
“Their frustration is understandable, but this kind of expectation betrays a misunderstanding of what’s actually driving food prices higher in this country.”
Food prices first soared above headline inflation starting in December 2021, rising as much as 11.4 per cent annually, according to Statistics Canada. February marked the first time since then that the price of food purchased from grocery stores (2.4 per cent increase year-over-year) fell below headline inflation (2.8 per cent.)
LOBLAW 2024 FIRST QUARTER HIGHLIGHTS Revenue was $13,581 million, an increase of $586 million, or 4.5%. Retail segment sales were $13,290 million, an increase of $555 million, or 4.4%.
Absolutely fuck this waste of air.
revenue is not profit, i’d like to know how much profit they made during that same time period. who cares how much they sold, it’s how much they made, while extracting that value, and how much that matches up with their price increases, off their customers backs, which is the important part.
Net earnings available to common shareholders of the Company were $459 million, an increase of $41 million or 9.8%
Do you think their profit margin is shrinking here?
I don’t think the person you’re replying to is defending Loblaws, just saying we need to look at the right numbers to correctly call bullshit.
Here,
The company’s quarterly profit was $459 million, marking a 9.8 per cent increase.
Source: https://www.cbc.ca/news/business/loblaw-q1-revenue-boycott-1.7190272
What an entitled, lying PoS. We’ve seen his company’s quarterly results. We’re not all as stupid as he thinks we are
Galen can kiss every inch of my beautiful behind. Fuck him and his castle.
Um they literally price fixed bread for how many years
20+ last I checked.
Edit: 14 officially.
And lied about it
I guess I’ll just boycott harder then.
Also not responsible for huge profits, I guess?
Weston also says that while shareholders “may be troubled by these often-repeated stories,” the grocery retailer “has and will continue to act with integrity.”
I can see his heart is in the right place.
I don’t believe that honestly.
As a retail employee at loblaws, don’t believe any of us who say it’s not a problem and the profits aren’t obscene. They offer stock options as a perk - So those doing it as a bored get out of the house option are essentially bought
Luckily, this is still a free country and we don’t need a reason for shopping elsewhere.
When Pierre Poilievre is elected with his Loblaws lobbyist employee, he might force us to shop at Loblaws. For freedom.
I’m convinced the cons don’t actually want to win. Pierre Poilievre is gotta be the snobbiest, most arrogant, most unlikable, wet sandwich of a man I’ve ever seen. Every election they find one worse than the last to run against JT. I can’t even remember that last couple, since they toss em off a cliff once they lose
Are you not aware of how insanely popular PP is right now? I agree he is a piece of shit, but he is polling very high
He is almost certainly going to be the next PM at this rate, which is a scary thought…
Rope is the solution for this typa parasite.
He sounds nervous
