A weak Canadian dollar is being blamed as a key culprit behind sticky inflation at the grocery store, a trend one expert says he expects to persist heading into the holidays. While overall inflation has moderated in recent months, settling back at the Bank of Canada’s two per cent target in October, consumers are once…
Grocery and drugstore retailer Metro Inc. ended its “transition year” with fourth-quarter earnings of $219.9 million, with an almost $1-billion supply chain transformation in the rearview mirror and plans to grow its store footprint in the coming year. “This transformation will provide capacity for future growth and efficiency while strengthening our market position,” said president…
Walmart ratcheted up sales and profits again in the third quarter with its comparatively low prices proving a powerful draw for shoppers seeking to cut spending where they could. The nation’s largest retailer raised its outlook for the year as well and shares rose nearly 4% in premarket trading Tuesday. Walmart, based in Bentonville, Arkansas,…
The head of one of Canada’s largest grocery chains says he’s seeing the early signs of consumer behaviour normalizing after years of trading down and cutting back in the cost of living crunch. Michael Medline, CEO of Sobeys parent company Empire Co., told analysts on the company’s earnings call Thursday that the past quarter saw…
Descrease article font size Increase article font size Metro Inc. says it earned a third-quarter profit of $296.2 million, down from $346.7 million in the same quarter last year, as its sales rose 3.5 per cent. The grocery and drugstore retailer said Wednesday the profit amounted to $1.31 per diluted share for the quarter ended…
