Loblaw profits fall 19 per cent
Despite making modest sales gains in its second quarter, Loblaw Cos. Ltd. saw its profits tumble by 19 per cent compared to the same period last year. The Globe and Mail reports that earnings dipped to $159 million or 57 cents a share, from $197 million or 70 cents a share a year earlier. And although sales were up by about 1.3 per cent, they came in lower than analysts expected. The story behind the numbers: the grocery chain has been trying to revamp its technology and supply chain systems, and that’s taken a bite out of profits. Loblaw needs to update these systems if it wants to compete with Walmart Canada Corp, which has been shoring up its food selection in earnest in Canada. This is all part of the company’s larger turnaround efforts, which have been going on since 2006, when Galen G. Weston took over as executive chairman. [Globe and Mail]
Super!! Let’s all boycott overpriced Loblaws and let them bring prices down – oh wait! Now they will be even higher since profits are down almost 20%. Wonder why? Maybe its that trial of opening all stores 24 hours when the only people having fun after 11pm was the stockers and cashiers!!
since loblaws is more groceries than anything else they should have a warehouse in each city so the food gets to their stores on time. here in winnipeg their meats and yugorts and milk and produce never get to the stores on time but their groceries like cereals and all the dry and freezer does why is that ?, if they dont smarten up they will lose customers here in winnipeg and we know winnipeg is a big market for them since its a growing and booming city, because right now i just buy my groceries (dry products) and freezer stuff and thats it.
Winnipeg a big market for Loblaws? loose customers in Winnipeg and loblaws care ? Come on Tim. Be realistic. We are talking about Winnipeg. Loblaws care about Winnipeg? For real? hhhmmmmmm
I’ve had so many negative customer service experiences from their unionized employees that I avoid Loblaws at all costs. For their sake, I hope this is a catalyst to transforming into a customer-focused organization.
well ofcourse lablaws is loosing money. wiht the prices at food basics and no frills why would anybody shop at lawblaws. if you’re going to shop at lawblaws , ya might as well go to sobey’s, they’re outrageous too.
then why the fuck did u ask for coments. guess the same idiots tht read your magazine shop at lablaws
john of course they care ,winnipeg is the city to be from now and in the future for business and the people in winnipeg are pickey if they dont get product they will move on. the city and province is growing and growing fast dont kid yourself if you know business then you want to make everyone happy…
Loblaws prices are higher and keep climbing and the stock just isn’t there and you often here their employees complaining about working there. Such a negative experience that most here shop at the Freshco that is across the street. So much so that they always have lineups. But still the cost difference is quite substantial. However, there will always be those few items that I head to Loblaws for. Bad move to keep charging the 5cents per bag and not donating it to a cause too. It just makes them look so greedy! Too bad – I really liked them and only shopped there for years. A decade ago they were great. What happened?
Loblaws quality is on par to No Frills but at WholeFoods prices. And I would rather go to Wholefoods and get good quality. People think they are saving when they buy at NoFrills but you can’t put a price on health. Buy smart: organic, no factory farmed animals, no preservatives and support local farming. Yes it costs a bit more, but not that much more. Loblaws is trying to be upscale, but it really isn’t. Not even the Queens Quay Toronto location – sub par.
I switched to WalMart when Loblaws started charging the $0.05 bag fee across Ontario. I have no reason to return to Loblaws , considering the food quality of both chains is on par, but the prices are lower at Walmart. I really appreciate it when they just bag my groceries at Walmart as a courtesy, and I don’t have to pay extra for the bags.
Why would I want to pay more for the hassle of shopping at Loblaws. Loblaws, I shall never darken your doorstep again.