Thursday, November 12, 2020

Loblaws sales and profits increase

The COVID-19 pandemic has pushed Loblaws sales up by 6.9per cent to $15.7 billion for its third fiscal quarter.

Pofits rose from $331 million to $432 million.

In the face of that, Loblaws announced it's squeezing suppliers for additional fees. It seems they specialize in not only groceries, but also greed.

The company spent about $85 million on COVID-19 measures in its supermarkets and Shoppers Drug Mart stores.

It reported a 175 per cent increase in on-line shopping.