The head of Canada’s top food retailer says he understands consumers are struggling with the cost of groceries, but doesn’t believe his company’s earnings are unreasonable.
Galen G. Weston, Chairman and President of Loblaw Companies Limited waits to appear as witnesses at the Standing Committee on Agriculture and Agri-Food investigating food price inflation in Ottawa, Wednesday, March 8, 2023.
Galen Weston, CEO and executive chairman of Loblaw Companies Ltd., was in the hot seat at the House of Commons agriculture committee Wednesday evening and brought with him a well-used talking point: his stores only profit $1 for every $25 grocery bill. “Reasonable profitability is an important part of operating a successful business,” he told NDP leader Jagmeet Singh when asked about an ethical threshold on Loblaw profits. “I think $1 out of $25, that’s reasonable profitability.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
`Our profit doesn't go to me': Loblaw's Galen Weston faces his critics during surreal visit to Parliament HillGalen Weston appeared in a corridor at the House of Commons, walking like he had taken several deep breaths before turning the corner. A herd of reporters…
Lire la suite »
'Our profit doesn't go to me': Loblaw's Galen Weston faces his critics during surreal visit to Parliament HillGrocers Loblaw, Empire and Metro defend themselves against allegations of profiteering in the grocery business. Read more
Lire la suite »