Loblaw Companies reported $13.58 billion in first-quarter revenue — a 4.5 per cent increase from a year earlier — on Wednesday morning, the same day that a group of frustrated shoppers said they would begin a month-long boycott of the grocery retailer. The company’s quarterly profit was $459 million, marking a 9.8 per cent increase. Earnings per share were $1.72 … Read more
Although Loblaw has now reinstated its popular 50 per cent discounts on perishable food, some customers say they still feel shortchanged. That’s because more than 100 Real Canadian Superstores owned by Loblaw continue to discount all food nearing its best-before date by only 30 per cent. “I was disappointed,” said Kim Siever when he recently visited his … Read more
Dollar Tree swung to a surprise fourth-quarter loss and will close nearly 1,000 U.S. stores after slashing the value of a rival chain it acquired almost a decade ago. Dollar Tree plans to close about 600 Family Dollar stores in the first half of this year, along with 370 Family Dollar and 30 Dollar Tree stores over … Read more
The Body Shop Canada Ltd. is seeking creditor protection and closing a third of its stores because its parent company stripped the Canadian arm of cash and pushed it into debt, according to court documents. An affidavit published through the company’s court monitor from Jordan Searle, who heads the Canadian arm, describes how troubles befell … Read more
The Canadian economy continues to beat recession fears, posting modest growth in the fourth quarter even as high interest rates weighed on consumers and businesses. Statistics Canada reported Thursday that real gross domestic product increased by an annualized rate of one per cent, beating economists’ expectations and the Bank of Canada’s forecast for the final … Read more
The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as they increasingly vie for limited air-cargo space to woo consumers with rapid delivery times, industry sources say. Shein, PDD Group’s Temu and ByteDance’s TikTok Shop, which recently launched online shopping in the U.S., ship the majority … Read more
It’s a store you know by scent. For decades, the sometimes-overwhelming aroma of The Body Shop’s satsuma soaps and coconut body butters have wafted through mall concourses, as much a staple to the culture as the food court. The U.K.-based beauty and cosmetics shop has more than 3,000 retail locations in 70 countries, including 110 standalone … Read more
The revelation that Loblaw will end its 50 per cent discount on perishable foods like meat, fruit and vegetables as they near their best-before dates should attract the attention of Canada’s Competition Bureau, says one industry expert. Prof. Sylvain Charlebois, the director of Dalhousie University’s Agri-food Analytics Lab, believes the action taken by the grocery chain to align its policy with other food retailers might be … Read more
Ken Bennett, an avid hiker and recreational hockey player, wanted a cereal packed with protein. So last month, he picked up Kellogg’s Vector. Bold lettering on the box declares that it has “high protein” — more specifically, that it “provides 13 g of protein” per serving. “[It’s] actually pretty high for a breakfast cereal. That’s why I bought it,” said … Read more
The Vancouver outdoor company Arc’teryx has won a temporary injunction barring Adidas from using the name “Terrex” on a Kitsilano store, in what a judge has described as a David vs. Goliath battle over trademark infringement. Arc’teryx’s parent company, Amer Sports Canada, filed suit against the international sports apparel giant last year over the signage … Read more
