Grocers Loblaw, Empire and Metro defend themselves against allegations of profiteering in the grocery business. Read more
“How much is enough?” Singh asked. “You’re making more than you’ve ever made, ever. And you’ve not contradicted that point because you know it’s true.”
“It doesn’t matter how many times you say it, write it, or tweet it. It is simply not true,” Medline told the committee. The committee responded by voting unanimously to call the Canadian heads of Walmart and Costco to testify.For weeks, the committee’s study on inflation and corporate profits has centred on the companies’ gross margins. The metric, which measures the amount of revenue leftover after subtracting the cost of sales, is seen as the best test of whether a grocery chain is taking advantage of inflation to jack up prices more than necessary.
“We would need more powers in order to go get that information, because otherwise we are quite limited,” Durocher said through a translator.
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