As Loblaw boycott begins, execs say criticisms of grocer ‘misguided’
Global News
Loblaw President and CEO Per Bank said at the grocer's annual meeting that there’s a lot of misinformation online about Loblaw as boycott against the company gets underway.
Loblaw’s new chief executive, as well as chairman Galen Weston, pushed back on what they called “misguided criticism” of the grocer as a push to boycott the company gains steam online.
President and CEO Per Bank said at the grocer’s annual meeting that there’s a lot of misinformation online about Loblaw, and said the company is not responsible for higher food prices.
A Reddit page created for Canadians to complain about Loblaw and the other major grocers, where the talks of a boycott began, now has 66,000 members.
Consumers are frustrated with food prices, which rose by double-digits over just a few years while Canada’s biggest grocers reported higher profits.
Bank and Weston also criticized recent calls to steal from Loblaw, which the boycott organizers have said they are not affiliated with.
On Wednesday, Loblaw reported profits grew almost 10 per cent year-over-year to $459 million.
A weaker Canadian dollar tied to Donald Trump's victory could be inflationary north of the border, which could make our central bank more hesitant to cut rates too quickly.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
Stock markets were rising broadly higher on news of Donald Trump's U.S. election victory on Wednesday. Here's how investors say you should adjust your portfolio.
The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
Donald Trump was previously a crypto skeptic but changed his mind and took a favorable view of cryptocurrencies ahead of the election.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
With the costs of pet ownership rising, the Competition Bureau sees an opportunity to drive down the prices of medication by expanding distribution to pharmacies.
Major North American carriers with international operations are cashing in on a booming demand for overseas travel and a resurgence in business bookings.