Consumer
Loblaw CFO Pushes Back on Claims Its Food Pricing Practices Are Unfair
- CFO says Canada is ‘one of the most competitive’ markets
- Loblaw outperforms the TSX and consumer staples index
A shopper in the meat aisle at a grocery store in Toronto
Photographer: Cole Burston/BloombergThis article is for subscribers only.
A senior executive at Loblaw Cos. pushed back against criticism of the supermarket chain’s prices, arguing that the presence of global giants such as Walmart Inc. helps ensure a competitive market in Canada.
Chief Financial Officer Richard Dufresne said Loblaw is “doing everything we can to keep prices low” in response to customers’ growing frustration over high grocery costs. The comments come as some consumers are trying to organize a boycott against the company, which is controlled by the billionaire Weston family.