Quote:
Originally Posted by bizaro86
For sure, I'm not saying definitively that they MUST do that, and I'm definitely not qualified to predict what an auditor would say on the matter. But 3 segments doesn't feel unreasonable for a business of that size, and Shoppers is pretty different than the grocery operations, imo. It does seem to meet the tests under IFRS for different segments, but obviously they don't feel it's required.
As an investor I'd value the grocery segment more highly than drugstore front-of-store sales, because I think they're less discretionary and less subject to competition.
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And I am telling you they are IFRS 8 compliant today however given the new environment and special scrutiny of inflation and food costs coupled with grocery store profits its likely PwC, their auditor likely has some further discussions with them this year on their segmentation assessments. Just trying to offer some insight and context to your assessment - coming from a CA and former auditor.