Loblaw Financial News

For some Loblaw customers in Ontario, their next grocery run might look and feel a little different.

Canada’s biggest grocers are investing money and space in discount stores such as No Frills, Food Basics and FreshCo as shoppers look for ways to save on food amid the higher cost of living.Converting grocery stores to discount is a relatively easy move, experts say, and one that is helping the grocers keep profits steady despite consumers seeking ways to rein in their spending.“There’s all sorts of things that … people are doing, but one of them is looking for cheaper options. And so they are going to discount stores,” said Michael von Massow, a food economy professor at the University of Guelph.Each of the major Canadian grocers has several different store brands, also known as “banners” — from high-end to conventional to discount.

When Diana Skakavac scrolls grocery store loyalty apps, she’s always looking for her “unicorn”: personalized offers for Tide laundry powder.

Galen Weston may not be the president of grocery giant Loblaw anymore, but you wouldn’t know that based on how often his name and face appear in connection with the company: in memes, on social media, and now emblazoned across the top of a new Reddit forum dedicated to high food prices in Canada.

Loblaw Cos. Ltd. set an all-time high for the second time this week as Canada’s biggest grocer rallied on a fourth-quarter earnings beat and expansion plans.

Loblaw Cos. Ltd. says it will build more than 40 new stores as part of a record investment plan of more than $2 billion.

A Costco executive says the retailer is open to supporting Canada’s long-planned grocery code of conduct, but it does not have enough details to make a decision yet.

Some pharmacare policy experts are raising concerns about competition and patient access to much-needed medication after Manulife Financial Corp. announced its coverage of certain prescription drugs will only apply at Loblaw Cos. Ltd. pharmacies.

TORONTO — Manulife Financial Corp. says patients who require specialty drugs will be able to fill their prescriptions at any pharmacy after backlash sparked by the insurance provider signing an exclusive arrangement with Loblaw Cos. Ltd.

Manulife Financial Corp. says patients who require specialty drugs will be able to fill their prescriptions at any pharmacy after backlash sparked by the insurance provider signing an exclusive arrangement with Loblaw Cos. Ltd.

Loblaw confirmed that it’s no longer offering discounts of up to 50 per cent on items nearing expiry.It’s a move that the Canadian Association of Retired Persons (CARP) is surprised and disappointed by.“It is a major increase for some people. It really hurts them.

grocery code of conduct says its launch is being held back by a lack of support from two major grocers.“We’re at an impasse,” said Michael Graydon, CEO of the Food, Health & Consumer Products of Canada association and chairman of the interim board for the code.The board sent a progress report to the federal, territorial and provincial agriculture ministers on Wednesday.“There is a concern that without the full participation of all major grocers, the implementation of the Code would create an unlevel playing field and put affected stakeholders at a competitive disadvantage,” the report reads.Without the support of all major grocers, the interim board said it can’t proceed in implementing the required steps to launch the code.“What we’re faced with now is no consensus and a failure to achieve what industry has told us they would achieve without government intervention. To say this is disappointing would be an understatement,” said federal Agriculture Minister Lawrence MacAulay in an emailed statement on Wednesday evening.The code was always intended to be industry-led, but the industry has “failed to meet the moment,” he said.“We’re actively examining all available federal options _ that includes legislation,” added MacAulay.“I’ve also met with my colleague, (federal Industry Minister Francois-Philippe Champagne), and his provincial and territorial counterparts.

Profits in the Canadian grocery sector will likely exceed $6 billion in 2023, setting a new record as they rise eight per cent from last year, according to the Centre for Future Work.

The bread supplier that admitted to price-fixing earlier this year says in new court filings that any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods.

Galen G. Weston says “we know we all need to do more to help” as he and the head of Walmart Canada appeared back to Ottawa to explain their plans to stabilize food prices.The appearance comes just hours after a new 2024 Food Price report from Canadian researchers suggested grocery prices are expected to rise next year, but not at the same pace as was seen in 2023 as inflation cools.The researchers estimate food prices will increase by 2.5 to 4.5 per cent in 2024.

Canadians hoping for better food prices going into 2024 may not get their wish immediately, but as inflation cools, a new report suggests people could soon see some savings at the grocery store.

single-use plastic ban is “unconstitutional and unreasonable” is generating disappointment for some in the environmental movement.And it is also raising questions about whether the plastic bags, straws and takeout containers listed under the ban could make a comeback.“I mean, we were very disappointed. And this is a real setback to the federal government’s plans to address the plastic pollution crisis,” said Ashley Wallis, associate director with Environmental Defence in Toronto.Both Environmental Defence and Greenpeace Canada are calling on the federal government to appeal the ruling, something Environment Minister Steven Guilbeault said he’s “strongly considering.”But where do things go from here?The court challenge was brought forward by a group called the Responsible Plastic Use Coalition (RPUC), made up of plastic producers including Dow Chemical and Imperial Oil.They successfully argued that the May 2021 cabinet order classing “plastic manufactured items” as toxic substances under the Canadian Environmental Protection Act (CEPA) was too broad.In a statement, the RPUC said it is glad that the court upheld the provisions of the CEPA and believes industry and the government can work collaboratively to reduce plastic waste.This classification allowed Ottawa to ban a wide variety of single-use plastics because under the CEPA, the federal government can ban toxic substances.With this classification retroactively overturned, does it mean single-use plastics like bags and straws will come roaring back?Not likely, it seems.Two of Canada’s major grocers, Loblaws and Metro, both tell Global News they will not be bringing back plastic shopping bags.“No.

Loblaw Cos. Ltd. reported its third-quarter profit and revenue rose compared with a year ago.

As the grocery code of conduct nears completion, the Canadian industry’s biggest player is raising concerns the guidelines could add fuel to the food inflation fire.

Canada’s biggest grocery store CEOs are going to be called back to Parliament, and this time MPs want them to explain how they are stabilizing food prices.

affordability issues dogging Canadians.Champagne told reporters before question period Monday afternoon that it was an “historic day” to have the heads of Canada’s biggest grocers in one place, and said the roughly two-hour meeting between Ottawa and the executives had “difficult discussions” but a “constructive tone.”“The large grocers have accepted to work with the government of Canada,” Champagne said.“This is a step in the right direction. … this is just the beginning.