Loblaw boycott hits the halfway mark: Here are 5 things to know

financialpost.com:

As a month-long boycott of Loblaw Cos. Ltd. enters its third week, the Canadian grocery giant’s investors appear largely unfazed. Though the movement continues to see a rise in supporters, evidence of its impact remains largely anecdotal. And Loblaw stock has not suffered, reaching an all-time high of $156.76 one week after the boycott began and remaining in positive territory for the month. The Financial Post’s Denise Paglinawan breaks down where things stand.

The nationwide boycott stemmed from a Reddit group called “r/loblawsisoutofcontrol” (LobIaws is out of control). The group boasts about 77,000 members, up from 56,000 on May 1, the start of the boycott. Emily Johnson created the subreddit page back in November and was subsequently joined by eight other organizers from across Canada in urging consumers to avoid all Loblaw subsidiaries (Loblaws, No Frills, Real Canadian Superstore, and Shoppers Drug Mart/Pharmaprix) for the month of May. According to the organizers, the Reddit page has had 4.5 million views to date, while the group’s Instagram account of the same name has grown to more than 10,600 followers.

In an interview with the Financial Post, Phoenix (Vince) Geisler, an organizer who works with Johnson, said the boycott picked up momentum entering week two. He said that data, based on Google Maps, suggested strong participation in Eastern regions such as Ontario, Nova Scotia and Newfoundland, as well as in Alberta. The group’s figures have not been verified by the Financial Post, and Loblaw did not respond to questions about the impact of the boycott.

Motivated by what organizers describe as “the ridiculous cost of living in Canada,” shoppers participating in the boycott are vowing to spend their grocery money