During the company’s second quarter earnings call on Thursday morning, Loblaw executives fielded questions from analysts about the grocery giant’s soft food retail sales — and whether a boycott organized online had impacted the company’s profits at all.
Some Canadians have been boycotting Loblaw since May, after the moderators of an online Reddit group called r/loblawsisoutofcontrol began encouraging its then-45,000 members to stop shopping at the store and its subsidiary brands.
During the company call, neither CEO Per Bank nor chief financial officer Richard Dufresne used the word boycott. But they didn’t deny that it was a factor in food retail sales that “came in a little soft” compared to the same time last year.
The company’s earnings results note that food retail same-stores sales increased by 0.2 per cent in the second quarter of this year, compared to a 6.1 per cent increase during the same quarter last year.
judging by how places are now either blocking off certain entrances/exits or narrowing entrances/exits it’s getting there.
I’ve seen several Shoppers completely block off store entrances via the makeup section so there’s only one point of entry and exit. Seen the same for rexalls that have kept shutters/glass doors closed for half their entrances to narrow people going in and out. Not to mention all the loblaws/zehrs that have made you walk through several automatic gates to get in and out.
Shop lifting is affecting these places, it’s clearly evident, but I have no sympathy because they’ve essentially done it to themselves with the rising costs…likely by design, it’s a good excuse.
All that being said if I see someone stealing food, no the fuck I didn’t.
also to add to this if you can in your city/town shop local or shop with a co-op. I’m lucky enough to be in Toronto and fairly close to Chinatown and I’ll never shop anywhere else. I do all my shopping at random mom and pop places there and I’m paying a fraction of what I would have been normally paying at loblaws.
I meant negative sales increase, rather than actual profit losses. Becaiae they are meaauring if they made more profit than last quarter, even at zero increase they are making a ton of profit. But yeah lifting seems like the next stage
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For negative you need them to start lifting
judging by how places are now either blocking off certain entrances/exits or narrowing entrances/exits it’s getting there.
I’ve seen several Shoppers completely block off store entrances via the makeup section so there’s only one point of entry and exit. Seen the same for rexalls that have kept shutters/glass doors closed for half their entrances to narrow people going in and out. Not to mention all the loblaws/zehrs that have made you walk through several automatic gates to get in and out.
Shop lifting is affecting these places, it’s clearly evident, but I have no sympathy because they’ve essentially done it to themselves with the rising costs…likely by design, it’s a good excuse.
All that being said if I see someone stealing food, no the fuck I didn’t.
also to add to this if you can in your city/town shop local or shop with a co-op. I’m lucky enough to be in Toronto and fairly close to Chinatown and I’ll never shop anywhere else. I do all my shopping at random mom and pop places there and I’m paying a fraction of what I would have been normally paying at loblaws.
I meant negative sales increase, rather than actual profit losses. Becaiae they are meaauring if they made more profit than last quarter, even at zero increase they are making a ton of profit. But yeah lifting seems like the next stage