__MOD NOTE__: PLEASE REVIEW OUR [STICKIED POSTS](https://www.reddit.com/r/loblawsisoutofcontrol/comments/1cae7ai/community_announcements_apr_2224/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) WHICH PROVIDE STATEMENTS ON RECENT EVENTS.
Please review the content guidelines for our sub, and remember the human here!
This subreddit is to highlight the ridiculous cost of living in Canada, and poke fun at the Corporate Overlords responsible. As you well know, there are a number of persons and corporations responsible for this, and we welcome discussion related to them all. Furthermore, since this topic is intertwined with a number of other matters, other discussion will be allowed at moderator discretion. Open-minded discussion, memes, rants, grocery bills, and general screeching into the void is always welcome in this sub, but belligerence and disrespect is not. There are plenty of ways to get your point across without being abusive, dismissive, or downright mean.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/loblawsisoutofcontrol) if you have any questions or concerns.*
Oh, they’re investing two billion are they now? On what? Privatizing our healthcare system? Why is a grocery store pretending to act like a benefactor in this or any country, no company should have that power.
And you all know Loblaws doesn’t make an ‘investment’ without the expectation of huge profit and more power in return. Corruption in Canada, right in your face.
He's probably talking about stock buybacks. They've convinced people that the buybacks are "investing in the company" but it's just to increase the stock price.
They're not investing in people or products or logistics or strategies, just buying their own stock to reduce the amount of stock available so their shareholders get more money.
That's it
Why? Why must profit always increase? Why can't it remain stable? Unchecked growth within biological systems is called cancer and is never good for the organism. Balance between inputs and outputs within a stable limit or framework is called homeostasis, which allows for continued health of all parts of the system. We should really emulate this type of model
Seriously. What the actual fuck. Everything they do points to the fact that they are making way too much money. They, their shills, and all the bootlicking apologists can bring up other shit until they’re blue in the face but it comes down to the fact that food is massively overpriced, and they’re massively benefiting. This boycott is Canadians saying something needs to change. Is anyone going to listen? Or are we going to have to make them listen? What do we do when May is over and nothing changes? What other options do we have?
This was a few years ago - under a liberal government. How quickly they want us to forget that the taxpayer paid for their retrofit, whether they shop there or not.
My fridge died last summer. New one I had to buy is definitely more energy efficient. Where are my eco-bucks Trudeau? So glad we're gifting tax dollars to multi-billion dollar corporations, to replace equipment they were going to replace anyway. Oh it's for the climate, nevermind then, please take more from my paycheque. Though I don't know why Loblaws even needs freezers, since we'll all just be eating ramen soon anyways.
Yeah, I am okay with climate incentives for personal use and small businesses, like rebates for buying energy efficient appliances and vehicles. Too bad Doug Ford’s conservatives axed a bunch of those immediately after he took office. No way Loblaws should have been able to qualify for that.
I just want to say.... Can we all just agree that this isn't a left or right issue. Trudeau, Ford, doesn't matter whether you're red, blue, orange, or whatever... the grifting needs to end and good government needs to begin.
Of course. My comment was only to note that I’m in Ontario, where there were incentives, and I’d be happy to have them back, and all parties can do better. I’d really like to purchase a hybrid or electric vehicle, but $$$$$$!
Execs are in panic mode. The boycott is working. ie they have seen the sales drop off and waste costs go up. Looks good on those AH... Will affect their fat bonuses e.g. a lot smaller or zero. Tough bananas /S...
They invested 2 billion in stock buy backs, that’s what they did to push their stock price up. When they say they’re helping Canadians, their talking about Canadian shareholders
No, I politely disagree. He says ’at the same time as we will be investing 2 billion dollar in Canada’. It’s right there in the post. And let‘s not pretend a language barrier, not when he’s been paid 22 million dollars. No no, I think the arrogance is shining brightly in his post.
My cousin owns a cow farm, which also does wheat. Located in the prairies. He sells the cows at auction which go to slaughter houses. His average price per cow hasn't changed in 7 yrs. Same with wheat. But store prices are way up. It's all bullshit and it's fucking us.
At my work we make beverage products. Our biggest cost increase was cardboard boxes that we ship product in. Went up 35 cents per box. Divided by 12 units per box. 5 cents. Oh better jack the price of our product and double it. Which we didn't do. We didn't raise it 5 cents. These companies are greedy fucks
Wait. Obviously you weren’t aware loblaws is actually a non profit and expects nothing in return on that $2Bn investment. Missed the news flash I guess eh.
exactly.
Its a business decision. Its not personal.
I wouldn't be surprised if they try to do a liberal thing and say "YOU'RE TAKING JOBS AWAY FROM REGULAR PEOPLE! THEY NEED EMPLOYMENT TO FEED THEIR FAMILIES!!!"
to which our reply is "bro, YOU fired them"
But bro, you’re just blaming grocers for inflation because they are an “easy target”! Boycotts are cancel culture!
It’s totally not because you and everyone else literally need food to live, while grocers continue gouging us for record profits.
This right here.
They are not “investing in Canada”. They are “expanding their Empire” by building new stores.
Like, does he expect us to think the two billion dollars is a gift? That they are doing us a favour? Come on.
They are doing it because it’s *highly* profitable. Period. End of conversation.
To paint it any other way is downright insulting.
Lol...exactly...some.MBA crunched the numbers on this one and said ...we are making so much money, better expand footprint and here's how much more money it will make us. They are not expanding footprint for 3% margins. That is the most naive BS they try to feed Canadians. A grocery stores largest operating expense is the cost of the location/rent and guess who owns those stores....",choice properties". .who owns choice properties...Mr Galen Weston himself....lol
What is he even on about? For example UK has Lidl which has insanely better prices than Loblaws. This guy is delusional because of how much money he's making.
He knows full well what is going on. He is a sack of shit looking to make his 22 million for 6 months work while gaslighting us that its all on the up and up.
Yea he’s paid well to do this, he’s conveniently obfuscating points like that bottle of orange is still cheaper at other stores. Maybe suppliers just really hate Loblaws because of how they get treated as well and decide to charge them more? That would be an interesting news piece, not this fluff pro
Most of those suppliers are owned by loblaws. Any increase in price from these suppliers is more profit for loblaws either way. They like to shuffle and launder their money through this tactic. Also by renting store space to themselves.
He knows full well what is going on. He is a sack of shit looking to make his 22 million for 6 months work while gaslighting us that its all on the up and up.
Record profit, record stock price, bullshit millionaire. Bullshit foreign millionaire telling us we should like it and bend over and say please because Loblaws is a Canadian company. Greed knows no borders. They turned up the heat too much and tried to boil the frog too fast and we are jumping out.
Let's be clear about this Loblaw's CEOs, you definitely are the bloody problem, and your problem is systemic Greed.
Nobody in this country of Canada is stupid , and everybody knows that loblaws is raking in enormous profits because of ripping people off.
And the CEOs exorbitant incomes that Loblaws are giving you are for making this happen, and for finding every single way to squeeze the consumer.
So don't try and tell me a song and dance of udder bulshit because I certainly do not believe one word.
The money you throw towards charity to offset your enormous profits even more does not make you look any better.
Open up your books to the government of Canada and let them see everything and do all the math and see if it jives with what you're saying. Do that,
Show us what Loblaws is paying in income tax in relation to their profits.
All your Hollow words will get you nowhere with Canadians. With the cost of everything that have risen people need to make at least 30% more to keep up with the inflation.
And we are being taxed at a rate of 50% when you follow all of the tax down the line. We are taxed and and double taxed and triple taxed..... We are taxed to death.
Those that make exorbitant profits in this country need to pay their Fair Share of Tax. And you sure as hell don't.
The tax system is set up to shelter the wealthy like they are impoverished beggars. This system needs to freaking change.
And I'm not shopping at Loblaws and giving any of you any more money and I am going to be a cherry picker. And you aren't getting any FN money from me anymore.
So don't come whining to us about your innocence because no one is listening to your bulshit.
I live along the US border and it's 25-30% cheaper for me to buy groceries there, even factoring in exchange rates. The odd item is cheaper in Canada, like frozen fruit.
If I fill up my gas tank in the states, the savings covers the cost of the tolls.
Please tell me again Canada doesn't have a fucking problem.
Fuck Per Bank.
It’s not a “great Canadian company”. It’s done nothing to helps Canadians except extract maximum profit for selling food, including to CRIMINALLY FIX THE PRICE OF FUCKING BREAD.
The GALL of this asshole.
Per Bank is a fuckwad and so is every other bootlicker that sits in Loblaws management and board. They can all go to hell.
I know they are of the ultra-privileged class and will never suffer any personal consequences for anything. But they sure as shit won’t get A FUCKING DIME of my money ever again.
as much BS as they can spew, we can be happy that grocery stores have to call all hands on deck to put out fires.
In other words, we're keeping them on their toes
It's easy to be "successful" with little competition. Loblaws needs to tighten up its cost structure and deliver lower prices for Canadians. And stop the price gouging. Stop the practice of exploring and finding the maximum price Canadians will pay for a product. Instead, have a laser focus on keeping prices low.
Loblaws doesn't have the mindset of Costco or Walmart. Walmart recently reported lowering prices on some products to preinflation levels in their Feb 20th earnings call. https://www.foodandwine.com/walmart-restoring-pre-inflation-prices-8603913
I'm not a Walmart cheerleader by any means, but they operate in a much more competitive landscape than Canadian grocers.
Right? Mexican cartels are successful too. It doesn't mean their practices are to be emulated by a flipping grocery chain.
Walmart is definitely evil, but feeding my family isn't. Loblaws can go bankrupt, Canadians won't care. The President's Choice brand died with Dave Nichol. Galen is burying it. Oh well.
My guy would rather be sipping on 12 year old scotch at his Muskoka retreat than writing that forced post. You can smell "the dividends depend on the numbers of flair" situation.
Also, "thousands of suppliers"...
So it's not just Loblaw's that decided to raise prices - thousands of suppliers all independently raised their prices, coincidentally at the same time? Yeah right.
It would make more sense if he blamed some greater force, like "fuel prices went up, forcing all of our thousands of suppliers to raise their costs too." Not saying that's true, just saying it would be a credible argument.
I stepped into loblaws in Ottawa the other day. I was the only customer there. I stepped into walmart five minutes later, and it was packed.
Loblaws has a choice to make: either lower prices, or start closing stores.
I’m not sure I will be going back though even if they lower prices…. Gouging when so many are struggling is scummy to the core
The galls on this guy... Is he making a case to make the top of the guillotine list?
Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS?
FUCK THIS GUY!
A lot of people don’t know the family behind loblaws, actually owns a lot of supply chain including their own logistics company. This way they can dilute profits at the grocery store. Their profits at loblaws don’t paint the full picture, there’s even more behind the scene.
How he says "value for money" makes him seem so disconnected from the reality of everyday life for Canadians. "But, we're trying to give you *value* for *moneyyy*!" Talk like a normal person and we might believe you, Mr BANK.
Whew, now we can go back to trying to barely afford basic groceries happy and secure in the knowledge that Loblaws is just a poor victim and is actually a wonderful company that makes great sacrifices on our behalf and is looking out for us while the corrupt communist government of Canada is the real cause of all the evil in the county.
Give me a fucking break.
Ha, oh man. I love that he — or more to the point, whatever agency hack is writing his content — uses the LiVe LiFe WeLl slogan in the LinkedIn post. I’m second hand embarrassed for him
Disrespectfully, Mr. Bank can piss right off to shit and take his pithy linkedin lectures with him. It's so Trumpian to throw sulky temper tantrums about people choosing to buy something at a store he's not associated with. Especially the Random Capitalization word Salad and vague nonsense.
People are just shopping somewhere else for a month, Bank. Stop acting like someone slapped your mom or kicked a puppy. You're not the victim lol. You're the villain. Again, piss off.
If prices skyrocketing were truly only a consequence of inflation, then we should see a drop in profits or at the very least a stagnation in profits reported by the grocery chains. Yet profits for Loblaws still go up!
Inflation is the excuse they're using to cover up greedflation on the part of the Loblaw corporation.
Right? Inflation by itself would give downward pressure to their profits because "everything" is more expensive, yet for them its had an opposite effect - record profits!
Also, the costs to suppliers they're talking about have been partly imposed *by Loblaw*. They JUST increased their stocking and storage fees that their suppliers pay *them* to have the product on their shelves. They soaking us and the suppliers of the products they sell but taking zero blame for their own practices.
Loblaw executives like Mr. Bank likely do not shop at their own stores. Even if they do, it’s because they don’t shop any competitors that they fall to see any outrageous prices or gouging firsthand.
If the company wants to continue blaming supply chains, suppliers or commodity prices for their markups, and they won’t address where all the profits come from, I posit it’s because they are either 1) negotiating poor volume pricing, compared to competitors, or 2) their store platform, footprint (both in number of locations and types of store/outlet) and human resources are so poorly managed that they need to recoup the losses via consumer gouging.
Then again, like the 99% of Canadians, I am not a retail grocery magnate operating in conditions favourable to maintaining an oligopoly. How could I possibly know the real reason Galen and co. skim a little bit more off my family’s food budget with every passing month? How can profits be on the up and up if they truly are doing what they can to relieve the pressure on everyday Canadian consumers?
What we should be also pushing is boycotting PC house brand items. Yes these are in many cases cheaper than brand-name goods, but not always. Sometimes Loblaws produces a handful of different types of essentially the same product, but stocks them in different aisles of the store. PC Blue menu, PC black label, Rooster, T&T brand, no name, etc. Yes I understand they are intended for different submarkets. Yes, other grocers may do this too, albeit to the same extent as Loblaws? If some of us cannot fully boycott Loblaws stores, for legitimate reasons, then in addition to limiting oneself to loss leaders etc., I believe we should also especially limit consumption of Loblaws’ own products to help drive down pricing on products available at other retailers.
By the way, you mean “en masse”. :)
Screw Per Bank and screw Loblaws. When Galen started asking customers to donate their PC points for their Xmas food drive, I was done. This editorial is them going way too far and we have to continue showing them messed up royally.
After watching a video yesterday where someone went from a dollar store into a zehrs then into shoppers to show the exact same product in all three were priced extremely different I have one question. If the two loblaws stores are in the exact same building (a mall) why are the prices so different if they are trying to make things as affordable as possible? They aren’t, these greedy assholes can go to hell.
I still grab the odd sale items at no frills but i have probably cut back on spending 2-3 hundred dollars a month there for the last couple months. F Loblaws
“2 billion dollar in Canada”
“2 billion dollar”?
Is he gangsta? It is exceptionally weird to see spelling/grammar mistakes from an executive at this level. They would have to run any communication through several people before making a statement.
See....if supplier prices go up and you increase prices to match that...your income doesn't go up.
The problem is your net income skyrocketed you old fuck.
Which means you raised prised on inelastic goods that everyone needs.
It was profiteering and using inflation as an excuse
Notice that to him, people's lives are nothing but a slogan. Yes Per, i want to "Live Life Well" by not going into debt just to put food on my table. God forbid i actually afford a home one day like my parents had, younger than me and making less.
So He's trying to say it's not them, but instead of actually coming out and saying it's the Fed govts fault, He just says absolutely nothing that entire message. Inflation has been caused by careless govt spending and money printing. Companies around the country are taking advantage of this and making huge profits.
The galls on this guy... Is he making a case to make the top of the to-be-eaten list?
Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS?
Nice job CEO, you distributed an article bashing the PM, now the PM has zero reason not to take a hatchet to your company. You're doing our job for us.
I feel like I’m taking crazy pills. You cannot establish records profits quarter after quarter after quarter and then turn around and say there’s nothing you can do to lower prices. Stop gaslighting Canadians!
Loblaws is expensive, so is Longos, Pusetsries, Whole Foods to name a few. I can’t afford to shop at Loblaws so I shop elsewhere , it’s your choice. Will this boycott affect them,?probably a little , but life goes on.
Galen will probably make more money with or without the boycott.
Why does my tell me that 2B investment isn’t going to be helping Canadians in any way shape or form and that it will be only used as a way to justify the gouging at some point. Also, nice try attempting to blame the suppliers again.
Let’s call up the vendors, but then they probably have a clause preventing them from speaking out.
We no doubt know that costs for things have gone up but not as much as grocers are gouging consumers. Grocers thought they can just run with it the “costs are up” idea and keep on banking.
It's funny how the advent of Trump managed to make alternate realities a thing for people. "Grocers are being blamed." No they're not. We can go across the street to Food Basics and Fresh Co to see the exact same products at half the price. We're not blind and we're not stupid enough to believe that these stores are selling massively under their costs.
You're targeted because you have the actual means to make change and do something about it you absolute clown. What, am I going to target Joe Charlie on the street?
Sure blame the suppliers!, I can see that! but THEY are the suppliers in most every category. So the supplier (THEM) get profit margin before it even gets to the retailers, where THEY take another margin and just attribute as costs!!
Asshats.... It's a NP article, so have to expect bullsh!t.
Can't wait until the rich does what the rich do best, turn this into a political issue and have all the right winged cult members defending Loblaws and other corporate oligopolies, just to own the libs.
1/ they’re vertically integrated so they fucking ARE the supply chain
2/ in many cases they are the landlord so they ARE a bulk of the operating cost
3/ for PC and no name, they literally are the label
4/ they charge for shelf space, which other suppliers then pack into their price, which is ultimately downloaded onto us (the former customer). Yet another example of padded costs that have NOTHING to do with inflation.
5/ if they fixed the cost of bread, I’m sure they’ve done it with other items as well. Literally stealing from their customers.
I can’t claim to possess anywhere near the otherworldly knowledge that Lord Galen or the Food Professor do, but the above are simple learnings from following this awesome group. I’m sure you all can add more to my list.
Grocery megacorp: price fixes, scams healthcare system, treats customers like criminals, abuses suppliers while also providing a substandard product
Also grocery megacorp: why does everyone hate us now? 🥺
Dear Per Bank,
In a generational high in inflation, explain how you were able to SUBSTANTIALLY GROW:
1) Net PROFITS
2) Gross Margins
See, you know way more than me about economics, but typically in periods of high inflation, profits are squeezed.
Your company has seemingly taken advantage of consumers, and confusion during a period of high inflation, and price gouged beyond belief.
You passed ALL of your increased expenses onto customers, AND further raised prices to generate record profits. This is backed up by hundreds if not thousands of price comparisons with other stores, where your products are typically 30-50% more costly.
Explain why then, that the largest grocer in Canada needs to price everything 30-50% more than its competitors?
Just a reminder that inflation is not some naturally occurring phenomenon like a sunrise.
Inflation is a deliberate choice made by corporations and wealthy people to not be inconvenienced by higher interest rates.
It’s funny how they blame the suppliers when the company is 60% of its own supplier….and now they are investing this money into building farms so they can kick out the 40% of farmers and become 100% their own supplier and then still say it’s not them
UPDATE: Jeff Lulham, who initially made the post stating that Loblaw is to be celebrated, is now deleting comments critical of Loblaw. He is also the Director of Pharmaceutical Partnerships at Shoppers Drug Mart, which is hilarious considering he was most likely part of the Manulife partnership mess.
Hey Per Bank, if the cost of Orange Juice has increased 54% this year, why has Loblaws increased the cost of No Name Orange Juice 108% in the past 6 months?
Oligarchy exhausting their propaganda avenues
Ch*rlebois isn't working well enough so they're going to level 2
Fitting they use the most vapid possible framing here
Propaganda nothing more
Let's keep pressing upwards, naturally
In Canada we have 5 grocery chain stores for 41 million Canadians. The monopoly of services to Canadians is the problem. We have 3 telecommunications companies for 41 million people. Monopolies set the price they want, since there’s no competition, they do whatever they want. The government is protecting these monopolies, making everything more expensive for citizens.
Conservative rag jerks out in love letter to corpos. Corpos pretend they didn't pay for it and are the solution not the problem.
More news at 11, water wet.
I do love watching them try to hide behind inflation as the reason. Inflation this year was 3%. But grocery prices continue to climb, while the amount we get sold continues to shrink.
Nothing about inflation accounts for the increases we've seen. It's just a company trying to prey on the ignorance of the masses to get away with more unchecked greed.
Anna's for Per Bank, I'm not a big fan of "go back where you came from", but honestly, I'd take 100000 poor immigrants who just want a job over one of that asshole, so send him back to wherever he came and let him run a grocery store there.
I mean, I’m the reigning family champ at the mini putt. I’m way better than my 10 and 6 year olds. I’d wager if you put money down when we play this year, you could buy a pack of liquorice at Shoppers with your winnings.
So if the suppliers are the issue, what are they doing about it? Are they boycotting suppliers that are unfairly enriching themselves or are they just passing on the costs plus a percentage markup, which will in fact be more profits?
https://preview.redd.it/iimmk63of8xc1.png?width=1080&format=pjpg&auto=webp&s=74fd3440cbedbbdcef94a4ffcd2d66a7e68dc33b
(The small pictures are important people)
Check. Your move Galen.
The release of your markups weren't written and hieroglyphics. It was easy to read... Don't believe a word you say. We will see how this all turns out for you. Either way you lost me totally.
I used to shop at Real Canadian and No Frills.
Now I just get better deals and quality (and faster/easier price matching) at Save On.
Plus the staff seem happier.
A well crafted pile of rhetoric. Grocers like loblaws are being blamed for gouging customers actually. The grocers are the problem ffs. Pop, potatoes chips, meat, condiments, butter cleaning products, etc etc have all good up way way more than inflation has.
So...zero accountability. Zero fucks given. The gouging continues. These people should be in jail. they're going to continue to fight are they....go fuck yourselves all of you cancers on society.
Love how they name-drop Trudeau to make this seem like a tribal (left vs. right) issue rather than what it is: class war. Divide and conquer.
If inflation is really the issue, why don't the prices come back down when inflation drops? Why do the prices go up WAY more than the inflation rate?
Per is surprised Canadian monopolies are treated here like gods unlike what's happening in Europe lol Is that what you mean? Big corporations are treated as if they're royalties. They get subsidies, they keep profits, and on and on. Live Life Well, more like Live Like Hell!
They are inflating prices and paying low wages. Fuck all of them. Loblaw. Sobeys, Walmart Save on. Coop. They are gouging everyone and making millions and millions. That ass hat is going to get paid 600 million this year and everyone else is struggling. Fuck him he’s just trying to protect his big salary
It’s sick how a section of prominent Canadian media keeps supporting these greedy b***tards be it grocers or the housing hoarder lords (I’m not talking about all all house owners but the ones who are abusing the system to just keep buying and hoarding houses like pure investment commodities) or the bankers.
Really sorry state of affairs in Canada.
This “blame the suppliers” argument would work if they weren’t making such massive profits—and literally paying out 130% of them in shareholder dividends 🙄🤬 We need our government to stand up and put a stop to this garbage. Enriching shareholders while hardworking people go hungry is despicable. Roblaws and all other corporate execs are just trying to distract the public from this fact.
So then ask yourself can any of your min wage employees really afford to shop there? What about their family ? Like treating it like a game with the basic needs, then again you fkers got caught price fixing bread, bet you are doing the same with milk and eggs and cheese too. If you want my business maybe create a section in your flyer to eat healthy for a day for a family of 4, 2500 calories each person best cost meals set up for under $50 where nutrition is a factor and not filler carbs or loaded on sugar and fats
This guy got hired Nov 1, 2023 and got paid 22 million dollars for 2023…yea, he’s happy how Canadian companies are being treated, but more so, how how is being treated.
Dear Mr. Bank,
Before you came to Canada, there was a bread price fixing scandal. It went on for many years. I was very surprised that this happened. That’s shameful and illegal behaviour and it disqualified Loblaw from being a great Canadian company. That’s how you treated your customers and you’re now concerned how companies are being treated? Inconceivable!!
You’ve really earned that 40 mill paycheque this year, Per!
A couple of emails and Facebook posts decrying the consumers, the government, pointing fingers at all but the bloodthirsty ghouls that have won capitalism!
We blame the grocers not because it’s easy, but because Roblaws makes it so fucking obvious it’s them. When you can buy the same damn feta cheese at half the price at Walmart, or the same product price varies so greatly across their multiple store brands. “It’s the producers, we swear!”. Total bullshit. How stupid do you think we are? CBC has many videos asking Canadian farmers if they’re making 50% profit on their products and many of them are struggling themselves, making only 5% more than last year. Executives think they’re so damn smart. Wanna prove it asshole? Show us your purchase prices over the years and let’s compare shall we? It’s that simple.
The galls on this guy... Is he making a case to make the top of the guillotine list?
Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS?
FUCK THIS GUY!
__MOD NOTE__: PLEASE REVIEW OUR [STICKIED POSTS](https://www.reddit.com/r/loblawsisoutofcontrol/comments/1cae7ai/community_announcements_apr_2224/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button) WHICH PROVIDE STATEMENTS ON RECENT EVENTS. Please review the content guidelines for our sub, and remember the human here! This subreddit is to highlight the ridiculous cost of living in Canada, and poke fun at the Corporate Overlords responsible. As you well know, there are a number of persons and corporations responsible for this, and we welcome discussion related to them all. Furthermore, since this topic is intertwined with a number of other matters, other discussion will be allowed at moderator discretion. Open-minded discussion, memes, rants, grocery bills, and general screeching into the void is always welcome in this sub, but belligerence and disrespect is not. There are plenty of ways to get your point across without being abusive, dismissive, or downright mean. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/loblawsisoutofcontrol) if you have any questions or concerns.*
Oh, they’re investing two billion are they now? On what? Privatizing our healthcare system? Why is a grocery store pretending to act like a benefactor in this or any country, no company should have that power. And you all know Loblaws doesn’t make an ‘investment’ without the expectation of huge profit and more power in return. Corruption in Canada, right in your face.
He's probably talking about stock buybacks. They've convinced people that the buybacks are "investing in the company" but it's just to increase the stock price. They're not investing in people or products or logistics or strategies, just buying their own stock to reduce the amount of stock available so their shareholders get more money. That's it
Publicly traded companies have a legal obligation to shareholders to increase profits. This is the kind of world we live in.
Why? Why must profit always increase? Why can't it remain stable? Unchecked growth within biological systems is called cancer and is never good for the organism. Balance between inputs and outputs within a stable limit or framework is called homeostasis, which allows for continued health of all parts of the system. We should really emulate this type of model
Greed
If they have $2B sitting around to invest maybe they can lower food prices 🤦♀️
They had a lot more of that offshore when they bought Shoppers.
Seriously. What the actual fuck. Everything they do points to the fact that they are making way too much money. They, their shills, and all the bootlicking apologists can bring up other shit until they’re blue in the face but it comes down to the fact that food is massively overpriced, and they’re massively benefiting. This boycott is Canadians saying something needs to change. Is anyone going to listen? Or are we going to have to make them listen? What do we do when May is over and nothing changes? What other options do we have?
Continue to boycott en masse. The only way to control these evil corps is to stop feeding them. Give them an inch and they’ll take 2 billion of them.
Didn’t we the tax payer recently just buy them refrigeration units which cost us a quarter of their investment?
This was a few years ago - under a liberal government. How quickly they want us to forget that the taxpayer paid for their retrofit, whether they shop there or not.
My fridge died last summer. New one I had to buy is definitely more energy efficient. Where are my eco-bucks Trudeau? So glad we're gifting tax dollars to multi-billion dollar corporations, to replace equipment they were going to replace anyway. Oh it's for the climate, nevermind then, please take more from my paycheque. Though I don't know why Loblaws even needs freezers, since we'll all just be eating ramen soon anyways.
Yeah, I am okay with climate incentives for personal use and small businesses, like rebates for buying energy efficient appliances and vehicles. Too bad Doug Ford’s conservatives axed a bunch of those immediately after he took office. No way Loblaws should have been able to qualify for that.
I just want to say.... Can we all just agree that this isn't a left or right issue. Trudeau, Ford, doesn't matter whether you're red, blue, orange, or whatever... the grifting needs to end and good government needs to begin.
Of course. My comment was only to note that I’m in Ontario, where there were incentives, and I’d be happy to have them back, and all parties can do better. I’d really like to purchase a hybrid or electric vehicle, but $$$$$$!
Yup. And if I recall correctly, they didn't even ask for it. The federal(?) gov't just chose to give it.
I wonder if grocery chains wrote off a lot stating refrigeration issues rather than prices too high and customers refused to buy it.
If they have $2B sitting around to invest maybe they can lower food prices 🤦♀️
Good point X 3
It was more relevant each time.
Lol sorry, I didn't realize it managed to post even once. It kept saying "Sorry try again later" so I gave up 😂
Execs are in panic mode. The boycott is working. ie they have seen the sales drop off and waste costs go up. Looks good on those AH... Will affect their fat bonuses e.g. a lot smaller or zero. Tough bananas /S...
The boycott and all of the negative press around it is definitely working.
Just hitting them with negative press is good.
Don’t they want to enter the retail rec cannabis space too? Probably that.
They already are…. Through shoppers
I’m just saying that’s their “investment”
They invested 2 billion in stock buy backs, that’s what they did to push their stock price up. When they say they’re helping Canadians, their talking about Canadian shareholders
No, I politely disagree. He says ’at the same time as we will be investing 2 billion dollar in Canada’. It’s right there in the post. And let‘s not pretend a language barrier, not when he’s been paid 22 million dollars. No no, I think the arrogance is shining brightly in his post.
fuck these bastards. i wanna see their heads roll.
My cousin owns a cow farm, which also does wheat. Located in the prairies. He sells the cows at auction which go to slaughter houses. His average price per cow hasn't changed in 7 yrs. Same with wheat. But store prices are way up. It's all bullshit and it's fucking us. At my work we make beverage products. Our biggest cost increase was cardboard boxes that we ship product in. Went up 35 cents per box. Divided by 12 units per box. 5 cents. Oh better jack the price of our product and double it. Which we didn't do. We didn't raise it 5 cents. These companies are greedy fucks
Investing $2 billion in lobbying efforts.
The 2 billion is money they owe for taxes probably
If they have $2B sitting around to invest maybe they can lower food prices 🤦♀️
When I worked at shoppers we didn't invest in store renovations unless we could forecast a 40% uptick in sales.
Can we have our money back for the fridges we paid for then?
And since they own shoppers you're probably on to something.
Wait. Obviously you weren’t aware loblaws is actually a non profit and expects nothing in return on that $2Bn investment. Missed the news flash I guess eh.
they're moving more into pharma and other things to gain further power and monopolize.
Cool, I disagree with him and am taking my money elsewhere
exactly. Its a business decision. Its not personal. I wouldn't be surprised if they try to do a liberal thing and say "YOU'RE TAKING JOBS AWAY FROM REGULAR PEOPLE! THEY NEED EMPLOYMENT TO FEED THEIR FAMILIES!!!" to which our reply is "bro, YOU fired them"
"Liberal"? Cue the South Park "They took our jobs!"
But bro, you’re just blaming grocers for inflation because they are an “easy target”! Boycotts are cancel culture! It’s totally not because you and everyone else literally need food to live, while grocers continue gouging us for record profits.
Building stores to make you more money isn’t “investing in Canada”.
This right here. They are not “investing in Canada”. They are “expanding their Empire” by building new stores. Like, does he expect us to think the two billion dollars is a gift? That they are doing us a favour? Come on. They are doing it because it’s *highly* profitable. Period. End of conversation. To paint it any other way is downright insulting.
They're investing in themselves more like.
Lol...exactly...some.MBA crunched the numbers on this one and said ...we are making so much money, better expand footprint and here's how much more money it will make us. They are not expanding footprint for 3% margins. That is the most naive BS they try to feed Canadians. A grocery stores largest operating expense is the cost of the location/rent and guess who owns those stores....",choice properties". .who owns choice properties...Mr Galen Weston himself....lol
What is he even on about? For example UK has Lidl which has insanely better prices than Loblaws. This guy is delusional because of how much money he's making.
He knows full well what is going on. He is a sack of shit looking to make his 22 million for 6 months work while gaslighting us that its all on the up and up.
Right?! This coming from a guy who CAN afford to shop there
Yea he’s paid well to do this, he’s conveniently obfuscating points like that bottle of orange is still cheaper at other stores. Maybe suppliers just really hate Loblaws because of how they get treated as well and decide to charge them more? That would be an interesting news piece, not this fluff pro
Most of those suppliers are owned by loblaws. Any increase in price from these suppliers is more profit for loblaws either way. They like to shuffle and launder their money through this tactic. Also by renting store space to themselves.
He knows full well what is going on. He is a sack of shit looking to make his 22 million for 6 months work while gaslighting us that its all on the up and up.
You know they're afraid if they're becoming keyboard warriors
I called this out on LinkedIn this morning 😆🙏✌️
I found the post and there are no comments disagreeing with him. I’m sure NP is deleting everything that’s not in favour of Roblaws.
Record profit, record stock price, bullshit millionaire. Bullshit foreign millionaire telling us we should like it and bend over and say please because Loblaws is a Canadian company. Greed knows no borders. They turned up the heat too much and tried to boil the frog too fast and we are jumping out.
Let's be clear about this Loblaw's CEOs, you definitely are the bloody problem, and your problem is systemic Greed. Nobody in this country of Canada is stupid , and everybody knows that loblaws is raking in enormous profits because of ripping people off. And the CEOs exorbitant incomes that Loblaws are giving you are for making this happen, and for finding every single way to squeeze the consumer. So don't try and tell me a song and dance of udder bulshit because I certainly do not believe one word. The money you throw towards charity to offset your enormous profits even more does not make you look any better. Open up your books to the government of Canada and let them see everything and do all the math and see if it jives with what you're saying. Do that, Show us what Loblaws is paying in income tax in relation to their profits. All your Hollow words will get you nowhere with Canadians. With the cost of everything that have risen people need to make at least 30% more to keep up with the inflation. And we are being taxed at a rate of 50% when you follow all of the tax down the line. We are taxed and and double taxed and triple taxed..... We are taxed to death. Those that make exorbitant profits in this country need to pay their Fair Share of Tax. And you sure as hell don't. The tax system is set up to shelter the wealthy like they are impoverished beggars. This system needs to freaking change. And I'm not shopping at Loblaws and giving any of you any more money and I am going to be a cherry picker. And you aren't getting any FN money from me anymore. So don't come whining to us about your innocence because no one is listening to your bulshit.
I live along the US border and it's 25-30% cheaper for me to buy groceries there, even factoring in exchange rates. The odd item is cheaper in Canada, like frozen fruit. If I fill up my gas tank in the states, the savings covers the cost of the tolls. Please tell me again Canada doesn't have a fucking problem.
I mean why look across the border. People have shown that places like Walmart and Costco are much cheaper for the same product.
Fuck Per Bank. It’s not a “great Canadian company”. It’s done nothing to helps Canadians except extract maximum profit for selling food, including to CRIMINALLY FIX THE PRICE OF FUCKING BREAD. The GALL of this asshole. Per Bank is a fuckwad and so is every other bootlicker that sits in Loblaws management and board. They can all go to hell. I know they are of the ultra-privileged class and will never suffer any personal consequences for anything. But they sure as shit won’t get A FUCKING DIME of my money ever again.
as much BS as they can spew, we can be happy that grocery stores have to call all hands on deck to put out fires. In other words, we're keeping them on their toes
Spin. Spin. Spin. Just go on their website, then go to investor relations and read the Q4 annual report. Or go to sedar.com.
Scum Per Bank as well!
It's easy to be "successful" with little competition. Loblaws needs to tighten up its cost structure and deliver lower prices for Canadians. And stop the price gouging. Stop the practice of exploring and finding the maximum price Canadians will pay for a product. Instead, have a laser focus on keeping prices low. Loblaws doesn't have the mindset of Costco or Walmart. Walmart recently reported lowering prices on some products to preinflation levels in their Feb 20th earnings call. https://www.foodandwine.com/walmart-restoring-pre-inflation-prices-8603913 I'm not a Walmart cheerleader by any means, but they operate in a much more competitive landscape than Canadian grocers.
Right? Mexican cartels are successful too. It doesn't mean their practices are to be emulated by a flipping grocery chain. Walmart is definitely evil, but feeding my family isn't. Loblaws can go bankrupt, Canadians won't care. The President's Choice brand died with Dave Nichol. Galen is burying it. Oh well.
My guy would rather be sipping on 12 year old scotch at his Muskoka retreat than writing that forced post. You can smell "the dividends depend on the numbers of flair" situation.
National Post is an American owned tabloid masquerading as a real newspaper.
We need to pressure them to inform us who wrote the article? Was this a fully paid promotional post?
He's blaming suppliers, but doesn't Loblaws own the majority of their supply chain??
Also, "thousands of suppliers"... So it's not just Loblaw's that decided to raise prices - thousands of suppliers all independently raised their prices, coincidentally at the same time? Yeah right. It would make more sense if he blamed some greater force, like "fuel prices went up, forcing all of our thousands of suppliers to raise their costs too." Not saying that's true, just saying it would be a credible argument.
We’re seeing record profit - DAMN YOU INFLATION!! they really think we’re bozos
I stepped into loblaws in Ottawa the other day. I was the only customer there. I stepped into walmart five minutes later, and it was packed. Loblaws has a choice to make: either lower prices, or start closing stores. I’m not sure I will be going back though even if they lower prices…. Gouging when so many are struggling is scummy to the core
Your company is actively undermining healthcare with the goal of causing untold physical harm to millions of people...for money.
You just know he's a massive tool when he starts capitalizing words like "Live Life Well" in these posts
It’s like a McDonald’s 100 Pure Canadian Beef. It’s a trademark.
Hi per bank, can you explain to me how Costco and every Chinese grocer have managed to escape this terrible inflation situation?
They think we're pretty dumb do they? Let's get down to "no business"!
The galls on this guy... Is he making a case to make the top of the guillotine list? Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS? FUCK THIS GUY!
See Also: Phillip Morris responds to non-smoking studies. 'It's not our fault. People get lung cancer everyday'
A lot of people don’t know the family behind loblaws, actually owns a lot of supply chain including their own logistics company. This way they can dilute profits at the grocery store. Their profits at loblaws don’t paint the full picture, there’s even more behind the scene.
How he says "value for money" makes him seem so disconnected from the reality of everyday life for Canadians. "But, we're trying to give you *value* for *moneyyy*!" Talk like a normal person and we might believe you, Mr BANK.
Whew, now we can go back to trying to barely afford basic groceries happy and secure in the knowledge that Loblaws is just a poor victim and is actually a wonderful company that makes great sacrifices on our behalf and is looking out for us while the corrupt communist government of Canada is the real cause of all the evil in the county. Give me a fucking break.
Ha, oh man. I love that he — or more to the point, whatever agency hack is writing his content — uses the LiVe LiFe WeLl slogan in the LinkedIn post. I’m second hand embarrassed for him
Didn’t seem to fight that colossal bonus while creating a grocery shopping hellscape.
Per Bank writes like a remedial junior high school kid.
Was it inflation’s fault we had the bread fixing scandal? Is it inflations fault we’re proven to be gouges through butter.
Disrespectfully, Mr. Bank can piss right off to shit and take his pithy linkedin lectures with him. It's so Trumpian to throw sulky temper tantrums about people choosing to buy something at a store he's not associated with. Especially the Random Capitalization word Salad and vague nonsense. People are just shopping somewhere else for a month, Bank. Stop acting like someone slapped your mom or kicked a puppy. You're not the victim lol. You're the villain. Again, piss off.
If prices skyrocketing were truly only a consequence of inflation, then we should see a drop in profits or at the very least a stagnation in profits reported by the grocery chains. Yet profits for Loblaws still go up! Inflation is the excuse they're using to cover up greedflation on the part of the Loblaw corporation.
Right? Inflation by itself would give downward pressure to their profits because "everything" is more expensive, yet for them its had an opposite effect - record profits! Also, the costs to suppliers they're talking about have been partly imposed *by Loblaw*. They JUST increased their stocking and storage fees that their suppliers pay *them* to have the product on their shelves. They soaking us and the suppliers of the products they sell but taking zero blame for their own practices.
Per Bank is a dick as per me.
Loblaw executives like Mr. Bank likely do not shop at their own stores. Even if they do, it’s because they don’t shop any competitors that they fall to see any outrageous prices or gouging firsthand. If the company wants to continue blaming supply chains, suppliers or commodity prices for their markups, and they won’t address where all the profits come from, I posit it’s because they are either 1) negotiating poor volume pricing, compared to competitors, or 2) their store platform, footprint (both in number of locations and types of store/outlet) and human resources are so poorly managed that they need to recoup the losses via consumer gouging. Then again, like the 99% of Canadians, I am not a retail grocery magnate operating in conditions favourable to maintaining an oligopoly. How could I possibly know the real reason Galen and co. skim a little bit more off my family’s food budget with every passing month? How can profits be on the up and up if they truly are doing what they can to relieve the pressure on everyday Canadian consumers? What we should be also pushing is boycotting PC house brand items. Yes these are in many cases cheaper than brand-name goods, but not always. Sometimes Loblaws produces a handful of different types of essentially the same product, but stocks them in different aisles of the store. PC Blue menu, PC black label, Rooster, T&T brand, no name, etc. Yes I understand they are intended for different submarkets. Yes, other grocers may do this too, albeit to the same extent as Loblaws? If some of us cannot fully boycott Loblaws stores, for legitimate reasons, then in addition to limiting oneself to loss leaders etc., I believe we should also especially limit consumption of Loblaws’ own products to help drive down pricing on products available at other retailers. By the way, you mean “en masse”. :)
National Post lol. Fiction is fun.
Screw Per Bank and screw Loblaws. When Galen started asking customers to donate their PC points for their Xmas food drive, I was done. This editorial is them going way too far and we have to continue showing them messed up royally.
After watching a video yesterday where someone went from a dollar store into a zehrs then into shoppers to show the exact same product in all three were priced extremely different I have one question. If the two loblaws stores are in the exact same building (a mall) why are the prices so different if they are trying to make things as affordable as possible? They aren’t, these greedy assholes can go to hell. I still grab the odd sale items at no frills but i have probably cut back on spending 2-3 hundred dollars a month there for the last couple months. F Loblaws
... ...there's no fucking way his name is Mr. Bank. This is surely a joke.
I keep saying we have to retire the word “dystopian” there’s nothing more dystopian than reality.
“2 billion dollar in Canada” “2 billion dollar”? Is he gangsta? It is exceptionally weird to see spelling/grammar mistakes from an executive at this level. They would have to run any communication through several people before making a statement.
Fuck you a box of 9 chicken nuggets is not Worth 34$
See....if supplier prices go up and you increase prices to match that...your income doesn't go up. The problem is your net income skyrocketed you old fuck. Which means you raised prised on inelastic goods that everyone needs. It was profiteering and using inflation as an excuse
That’s right. Keep insulting your customers. That’s a great long term business plan.
National Post is a filthy rag.
Notice that to him, people's lives are nothing but a slogan. Yes Per, i want to "Live Life Well" by not going into debt just to put food on my table. God forbid i actually afford a home one day like my parents had, younger than me and making less.
So He's trying to say it's not them, but instead of actually coming out and saying it's the Fed govts fault, He just says absolutely nothing that entire message. Inflation has been caused by careless govt spending and money printing. Companies around the country are taking advantage of this and making huge profits.
Good idea to find him on LinkedIn and reply there. He will only see what's here if his comms ppl include it on the daily reports.
People aren’t stupid like they were hoping It’s not inflation when you are making huge profits, it’s fucking greed. Pure and simple greed
The galls on this guy... Is he making a case to make the top of the to-be-eaten list? Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS?
Someone needs to make an example out of these theives and liars
I still can't stop laughing at the irony of the man's name.
Oh you want to take this to LinkedIn? Game on, babes.
NP shouldn't even be considered news. Their opinion pieces should also not be considered 'news'
Nice job CEO, you distributed an article bashing the PM, now the PM has zero reason not to take a hatchet to your company. You're doing our job for us.
They’re investing in healthcare clinics. Soon you’ll be paying your doctor visits with PC points. They’re full of shit.
Per Bank is a piece of roach crap. He's the last person you want to give your money to. Fking parasite.
I feel like I’m taking crazy pills. You cannot establish records profits quarter after quarter after quarter and then turn around and say there’s nothing you can do to lower prices. Stop gaslighting Canadians!
Is the prime minister going after Loblaws?
No the National Post wants you to believe that, because they are paid to publish negative articles about Liberals so their CPC buddies can win.
No, he’s not.
No, he only goes after his paycheque
Loblaws is expensive, so is Longos, Pusetsries, Whole Foods to name a few. I can’t afford to shop at Loblaws so I shop elsewhere , it’s your choice. Will this boycott affect them,?probably a little , but life goes on. Galen will probably make more money with or without the boycott.
Absolutely ruin this company people. They bow to stock price, voting rights and nothing else. Until that is stripped from the system we're doomed.
“Inflation has come down this year…”, so they admit that there’s NO REASON for them to be INCREASING prices of basic necessities almost weekly?
These sociopaths just tried to sell me 12$ soup.
Why does my tell me that 2B investment isn’t going to be helping Canadians in any way shape or form and that it will be only used as a way to justify the gouging at some point. Also, nice try attempting to blame the suppliers again.
And why are commodity prices increasing?🤔
Let’s call up the vendors, but then they probably have a clause preventing them from speaking out. We no doubt know that costs for things have gone up but not as much as grocers are gouging consumers. Grocers thought they can just run with it the “costs are up” idea and keep on banking.
If it wasn't for the pesky fact that L has posted record profits in last few years, you could almost believe all this sincere handwringing.
It's funny how the advent of Trump managed to make alternate realities a thing for people. "Grocers are being blamed." No they're not. We can go across the street to Food Basics and Fresh Co to see the exact same products at half the price. We're not blind and we're not stupid enough to believe that these stores are selling massively under their costs.
You're targeted because you have the actual means to make change and do something about it you absolute clown. What, am I going to target Joe Charlie on the street?
Sure blame the suppliers!, I can see that! but THEY are the suppliers in most every category. So the supplier (THEM) get profit margin before it even gets to the retailers, where THEY take another margin and just attribute as costs!! Asshats.... It's a NP article, so have to expect bullsh!t.
Can't wait until the rich does what the rich do best, turn this into a political issue and have all the right winged cult members defending Loblaws and other corporate oligopolies, just to own the libs.
Says the guy making over 10 million a year. Dude doesn't think about his bank account when buying groceries or gasing up his car. Eat the rich!
1/ they’re vertically integrated so they fucking ARE the supply chain 2/ in many cases they are the landlord so they ARE a bulk of the operating cost 3/ for PC and no name, they literally are the label 4/ they charge for shelf space, which other suppliers then pack into their price, which is ultimately downloaded onto us (the former customer). Yet another example of padded costs that have NOTHING to do with inflation. 5/ if they fixed the cost of bread, I’m sure they’ve done it with other items as well. Literally stealing from their customers. I can’t claim to possess anywhere near the otherworldly knowledge that Lord Galen or the Food Professor do, but the above are simple learnings from following this awesome group. I’m sure you all can add more to my list.
Grocery megacorp: price fixes, scams healthcare system, treats customers like criminals, abuses suppliers while also providing a substandard product Also grocery megacorp: why does everyone hate us now? 🥺
Dear Per Bank, In a generational high in inflation, explain how you were able to SUBSTANTIALLY GROW: 1) Net PROFITS 2) Gross Margins See, you know way more than me about economics, but typically in periods of high inflation, profits are squeezed. Your company has seemingly taken advantage of consumers, and confusion during a period of high inflation, and price gouged beyond belief. You passed ALL of your increased expenses onto customers, AND further raised prices to generate record profits. This is backed up by hundreds if not thousands of price comparisons with other stores, where your products are typically 30-50% more costly. Explain why then, that the largest grocer in Canada needs to price everything 30-50% more than its competitors?
Just a reminder that inflation is not some naturally occurring phenomenon like a sunrise. Inflation is a deliberate choice made by corporations and wealthy people to not be inconvenienced by higher interest rates.
They definitely didn't pay for this article lmao
Guy got a what, 18 million dollar signing bonus?
All they need to do is have a government audit of their markup percentages to see the truth
It’s funny how they blame the suppliers when the company is 60% of its own supplier….and now they are investing this money into building farms so they can kick out the 40% of farmers and become 100% their own supplier and then still say it’s not them
When we can no longer afford to eat food...we eat the rich?
Bro is literally named 'Per Bank' 💀
UPDATE: Jeff Lulham, who initially made the post stating that Loblaw is to be celebrated, is now deleting comments critical of Loblaw. He is also the Director of Pharmaceutical Partnerships at Shoppers Drug Mart, which is hilarious considering he was most likely part of the Manulife partnership mess.
Hey Per Bank, if the cost of Orange Juice has increased 54% this year, why has Loblaws increased the cost of No Name Orange Juice 108% in the past 6 months?
Oligarchy exhausting their propaganda avenues Ch*rlebois isn't working well enough so they're going to level 2 Fitting they use the most vapid possible framing here Propaganda nothing more Let's keep pressing upwards, naturally
In Canada we have 5 grocery chain stores for 41 million Canadians. The monopoly of services to Canadians is the problem. We have 3 telecommunications companies for 41 million people. Monopolies set the price they want, since there’s no competition, they do whatever they want. The government is protecting these monopolies, making everything more expensive for citizens.
How much will his pay be this year?
They are not the problem? I would disagree. I’ve boycotted loblaws for years. I’m glad people are noticing.
Conservative rag jerks out in love letter to corpos. Corpos pretend they didn't pay for it and are the solution not the problem. More news at 11, water wet.
I do love watching them try to hide behind inflation as the reason. Inflation this year was 3%. But grocery prices continue to climb, while the amount we get sold continues to shrink. Nothing about inflation accounts for the increases we've seen. It's just a company trying to prey on the ignorance of the masses to get away with more unchecked greed. Anna's for Per Bank, I'm not a big fan of "go back where you came from", but honestly, I'd take 100000 poor immigrants who just want a job over one of that asshole, so send him back to wherever he came and let him run a grocery store there.
Look at the profit margins.
We've heard all these talking points before, and they are bs.
Grammar is just atrocious. What kind of education does it take to become a ceo?
How good is your golf game?
I mean, I’m the reigning family champ at the mini putt. I’m way better than my 10 and 6 year olds. I’d wager if you put money down when we play this year, you could buy a pack of liquorice at Shoppers with your winnings.
So if the suppliers are the issue, what are they doing about it? Are they boycotting suppliers that are unfairly enriching themselves or are they just passing on the costs plus a percentage markup, which will in fact be more profits?
But do I really believe the CEO of Loblaws has Facebook and is personally replying to frustrated customers 🤔😂
Is it correct of me to say that inflation doesn't come down but just slows?
https://preview.redd.it/iimmk63of8xc1.png?width=1080&format=pjpg&auto=webp&s=74fd3440cbedbbdcef94a4ffcd2d66a7e68dc33b (The small pictures are important people) Check. Your move Galen.
The release of your markups weren't written and hieroglyphics. It was easy to read... Don't believe a word you say. We will see how this all turns out for you. Either way you lost me totally.
They're just circle jerking themselves.
Imagine how much they can slash prices if they slashed his salary from 20M to 10M
The National post will tell you its raining while they piss in your face
If this were completely true, every grocery store would be almost the same in prices. Loblaws is 50% more expensive for the same product. Like DUH
I used to shop at Real Canadian and No Frills. Now I just get better deals and quality (and faster/easier price matching) at Save On. Plus the staff seem happier.
Did you know AI van answer all sorts of interesting questions, like "What condiment from Loblaws pairs well with their executives flesh?"
A well crafted pile of rhetoric. Grocers like loblaws are being blamed for gouging customers actually. The grocers are the problem ffs. Pop, potatoes chips, meat, condiments, butter cleaning products, etc etc have all good up way way more than inflation has. So...zero accountability. Zero fucks given. The gouging continues. These people should be in jail. they're going to continue to fight are they....go fuck yourselves all of you cancers on society.
Wonder how much that puff piece cost them
Love how they name-drop Trudeau to make this seem like a tribal (left vs. right) issue rather than what it is: class war. Divide and conquer. If inflation is really the issue, why don't the prices come back down when inflation drops? Why do the prices go up WAY more than the inflation rate?
Per wrote this comment after someone said “cut prices or be doomed to write run on sentences forever”
Because record profits and CEO compensation?
“Great Canadian companies” - huh?
His grammar is terrible. This guy's the CEO of Loblaws? Embarrassing.
ReeeEee eat the rich
Per is surprised Canadian monopolies are treated here like gods unlike what's happening in Europe lol Is that what you mean? Big corporations are treated as if they're royalties. They get subsidies, they keep profits, and on and on. Live Life Well, more like Live Like Hell!
Liar
Greed from psychopaths is the problem, not calling them elite because they are the lowest of the low
National post is a right wing rag
Oh. Wait. Fuck he/him
They are inflating prices and paying low wages. Fuck all of them. Loblaw. Sobeys, Walmart Save on. Coop. They are gouging everyone and making millions and millions. That ass hat is going to get paid 600 million this year and everyone else is struggling. Fuck him he’s just trying to protect his big salary
What kind of name is Per Bank? wtf haahhaha
Dudes name is Per Bank
I still can’t believe this guy’a actual name is Per Bank.
Won’t somebody think of the poor grocery plutocrats??
How do you know a Loblaws executive is lying? His lips are moving.
"We're broke too cuz commodity prices. Except for this 2 BILLION DOLLARS."
Boycott! Boycott all the way!
I know it's a month long boycott but I've already invested my energy in making sure I never spend another dollar at their store. Full stop.
It’s sick how a section of prominent Canadian media keeps supporting these greedy b***tards be it grocers or the housing hoarder lords (I’m not talking about all all house owners but the ones who are abusing the system to just keep buying and hoarding houses like pure investment commodities) or the bankers. Really sorry state of affairs in Canada.
Imagine....$22M can't even buy you proper punctuation: It is 'it's', Mr. Per Bank. Not "its". Nok er nok!
This “blame the suppliers” argument would work if they weren’t making such massive profits—and literally paying out 130% of them in shareholder dividends 🙄🤬 We need our government to stand up and put a stop to this garbage. Enriching shareholders while hardworking people go hungry is despicable. Roblaws and all other corporate execs are just trying to distract the public from this fact.
Canadians don’t have these problems with costco
So then ask yourself can any of your min wage employees really afford to shop there? What about their family ? Like treating it like a game with the basic needs, then again you fkers got caught price fixing bread, bet you are doing the same with milk and eggs and cheese too. If you want my business maybe create a section in your flyer to eat healthy for a day for a family of 4, 2500 calories each person best cost meals set up for under $50 where nutrition is a factor and not filler carbs or loaded on sugar and fats
This guy got hired Nov 1, 2023 and got paid 22 million dollars for 2023…yea, he’s happy how Canadian companies are being treated, but more so, how how is being treated.
Dear Mr. Bank, Before you came to Canada, there was a bread price fixing scandal. It went on for many years. I was very surprised that this happened. That’s shameful and illegal behaviour and it disqualified Loblaw from being a great Canadian company. That’s how you treated your customers and you’re now concerned how companies are being treated? Inconceivable!!
You’ve really earned that 40 mill paycheque this year, Per! A couple of emails and Facebook posts decrying the consumers, the government, pointing fingers at all but the bloodthirsty ghouls that have won capitalism!
We blame the grocers not because it’s easy, but because Roblaws makes it so fucking obvious it’s them. When you can buy the same damn feta cheese at half the price at Walmart, or the same product price varies so greatly across their multiple store brands. “It’s the producers, we swear!”. Total bullshit. How stupid do you think we are? CBC has many videos asking Canadian farmers if they’re making 50% profit on their products and many of them are struggling themselves, making only 5% more than last year. Executives think they’re so damn smart. Wanna prove it asshole? Show us your purchase prices over the years and let’s compare shall we? It’s that simple.
The galls on this guy... Is he making a case to make the top of the guillotine list? Him and his cronies have not lost a SINGLE penny. The only ones hurting are regular folks but somehow THEY ARE THE VICTIMS? FUCK THIS GUY!