[Street Pharmacist]

Originally Posted by Harry Lime

Loblaw earns $529M in Q4 profits as Canadians struggle with rising food prices. Almost a 10% rise in profits. Does anyone think that the government will act on this, or is it a 'let them eat cake' scenario?

https://www.cbc.ca/news/business/lob...2022-1.6757480

That's a bit misleading:

The grocer's gross margins also dipped slightly in the quarter ended Dec. 31, with an adjusted gross profit of 30.6 per cent down from 30.9 per cent in the same quarter a year earlier.

The company said a decrease in its food retail margin -- largely related to its No Name price freeze and increased promotional activity --was partially offset by growth in higher margin drug retail sales.

https://www.ctvnews.ca/business/lobl...ston-1.6285718


There was a substantial increase in OTC and cosmetic sales in 2022 which are much higher margin, as well as money from COVID vaccines and other things inflating profits. I get that I'm biased because I own a Shoppers which is a Loblaws subsidiary, but I don't think that's an entirely fair reading of the earnings call or reporting