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Loblaw reports 9.8% quarterly profit boost, hikes dividend 15% (www.theglobeandmail.com)
submitted 2 years ago by to c/canada@lemmy.ca
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Owner of Loblaws, No Frills, Real Canadian Superstore and Shoppers Drug Mart recorded net earnings of $459-million or $1.47 per share in first quarter

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[–] 4 points 2 years ago (1 child)

If you think about it the other way around, it's pretty fucking scary though. Loblaws is extracting the equivalent of $47 in raw profits from every man, woman, and child in the entire country.

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  • [–] 1 point 2 years ago (1 child)

    Hmm, hard to quantify since I’m not sure how much of the population does a significant portion of grocery and other shopping at Loblaws, but in that context it doesn’t seem so bad. If we taxed those profits completely that only puts an extra $50 in everybody's pocket each year, which doesn’t seem like it’d really have a large financial impact on many households.

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  • [–] 1 point 2 years ago (1 child)

    I don't know what Loblaw's market share is. Let's say it's 30%. That makes it MUCH worse... Neatly $150 for every man woman and child that shops at Loblaws, JUST THIS YEAR.

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  • [–] 1 point 2 years ago (1 child)

    Maybe $300/month, or $3600/year for groceries. Maybe another $200/year each for prescriptions, alcohol, and general housewares to cover the non-grocery items. $150 profit on $4200 of revenue would be about 4% margin. Doesn’t seem that high to me but I also don’t really know how that compares to other businesses in the same market.

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  • [–] 1 point 2 years ago

    FYI, almost every single item you find in a retail store is marked up 50% or more, with the only exceptions being commodities like gas and diesel, or electronics, where the manufacturers make the majority of the profits.

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