Food Prices

[fotze2]

I just don’t get why everything is so expensive. But I get a cheque. So all is good.

[Wormius]

Originally Posted by fotze2

I just don’t get why everything is so expensive. But I get a cheque. So all is good.

Is this a commentary or is someone saying this?

[Doctorfever]

You get a cheque so it’s all good.

Wait, what?

What do you mean he is paying me with my money?!!

/g

[jayswin]

Originally Posted by Faust

Galen Weston just warned all of Canada that grocery bills are going to spike:

https://www.blogto.com/city/2023/12/...d-bills-go-up/

The lower classes will grow and rise up. It's coming, no matter how much the upper middle and upper class try to speak of life like everything is okay. (Yes, I understand that the majority of CP is middle upper to upper class and will laugh this off as absurdity).

[cam_calderon]

Can you elaborate on 'rise up'?

[Ozy_Flame]

Does Weston know something he shouldn't? That sounds like either normal inflation chatter or illegal price fixing.

[Huntingwhale]

Start stealing.

[you&me]

Originally Posted by jayswin

The lower classes will grow and rise up. It's coming, no matter how much the upper middle and upper class try to speak of life like everything is okay. (Yes, I understand that the majority of CP is middle upper to upper class and will laugh this off as absurdity).

I think you've said this in a few threads now... It would be interesting to hear your elaborate on this.

Besides, clearly the plan is to keep food prices so high that the lower classes are malnourished to the point of being non-threatening.

[calgarygeologist]

Originally Posted by you&me

I think you've said this in a few threads now... It would be interesting to hear your elaborate on this.

Besides, clearly the plan is to keep food prices so high that the lower classes are malnourished to the point of being non-threatening.

The lower classes will start eating each other to survive and gain the strength to overthrow the rich.

[cam_calderon]

Originally Posted by you&me

I think you've said this in a few threads now... It would be interesting to hear your elaborate on this.

Besides, clearly the plan is to keep food prices so high that the lower classes are malnourished to the point of being non-threatening.

I've asked him twice now. Not really surprised there's been no reply, because je knows there won't be a revolution in Calgary or anywhere else.

[MoneyGuy]

https://twitter.com/user/status/1734355576023376098

[Sylvanfan]

So how to we do that South Park episode where we get in a room with Gaelon Weston, lock ourselves in, and decide to Eric Roberts him when we get hungry in two hours?

[Slava]

I feel like we've been over this and no one wants to consider the facts. The net margins for Loblaws are under 3% though, which is not a big deal. Look at almost any other sector and these are easily double digits. I know that people see this all the time, and I'm fairly sure you could talk about "can you believe that $100 of groceries fits into this bag" and people would agree any time. The reality is though, margins don't appear to be rising. Metro is the highest in my brief foray looking at statements and it was about 4.5% IIRC.

But Costco, Empire, Loblaws are all between 2-3%.

[Captain Otto]

I got 3 large beets for $0.53 today. Bananas I think I paid $1.50 for 6.

Anyone know any good beet and banana recipes?

[MoneyGuy]

Originally Posted by Captain Otto

I got 3 large beets for $0.53 today. Bananas I think I paid $1.50 for 6.

Anyone know any good beet and banana recipes?

http://www.fussfreecooking.com/recip...baby-beetroot/

[GGG]

Originally Posted by Slava

I feel like we've been over this and no one wants to consider the facts. The net margins for Loblaws are under 3% though, which is not a big deal. Look at almost any other sector and these are easily double digits. I know that people see this all the time, and I'm fairly sure you could talk about "can you believe that $100 of groceries fits into this bag" and people would agree any time. The reality is though, margins don't appear to be rising. Metro is the highest in my brief foray looking at statements and it was about 4.5% IIRC.

But Costco, Empire, Loblaws are all between 2-3%.

Does it show profit creating store branded products? Like do they seek themselves no name product and then sell it in there stores in which case it would be separate?

[Slava]

Originally Posted by GGG

Does it show profit creating store branded products? Like do they seek themselves no name product and then sell it in there stores in which case it would be separate?

I don’t have access to anything that granular. But, those are the net margins and they’re really unchanged over the past 5-6 years at least. They tend to separate pharmacy, front of store and grocery. If they have gas stations, they break that out also. But seriously, it sure looks like rising prices because inputs are more expensive…which is hardly surprising. Grocery margins are just not as great as people might think.

[GordonBlue]

Originally Posted by Slava

I feel like we've been over this and no one wants to consider the facts. The net margins for Loblaws are under 3% though, which is not a big deal. Look at almost any other sector and these are easily double digits. I know that people see this all the time, and I'm fairly sure you could talk about "can you believe that $100 of groceries fits into this bag" and people would agree any time. The reality is though, margins don't appear to be rising. Metro is the highest in my brief foray looking at statements and it was about 4.5% IIRC.

But Costco, Empire, Loblaws are all between 2-3%.

I'm looking a the fact each quarter they're making record profits.
Then they guy comes out to say that prices will likely rise.

I don't give a #### what their margins are. The bottom line is these guys are making billions in profit.

They can afford to give us a break for something we need to survive, and still make billions in profit.

[you&me]

Originally Posted by GordonBlue

I'm looking a the fact each quarter they're making record profits.
Then they guy comes out to say that prices will likely rise.

I don't give a #### what their margins are. The bottom line is these guys are making billions in profit.

They can afford to give us a break for something we need to survive, and still make billions in profit.

I think Slava's point is that the grocers aren't necessarily gouging; they're making the same margins they always have, just on higher input costs.

Most businesses will operate on fairly static margins (costs go up, prices go up) and because the demand in the grocery business is essentially inelastic, they're likely to have some of the stickiest margins.

In this case, record profits are a function of higher input costs, not unnecessarily gouging the consumer.

[Doctorfever]

Ya. The whole “record profits” is kinda misleading.

Every time I get a raise in pay I am also making record profit.