TORONTO • It wouldn’t be out of line if those attending Loblaw Cos.’ annual general meeting of shareholders on Thursday departed with the belief that Galen Weston Jr. is getting business strategy insights from ParticipACTION.
Fresh off closing the grocery retailer’s $12.4-billion acquisition of pharmacy chain Shoppers Drug Mart, the retailer’s executive chairman spent a substantial part of the event outlining the merged retailers’ futures as destinations aimed at making people healthier.
TORONTO • Making improvements to its fresh food business helped Loblaw Cos. Ltd. stay at the leading edge of a brutally competitive grocery sector in the second quarter.
As the country’s biggest grocer continues to work through business synergies and opportunities from its acquisition of Shoppers Drug Mart last year, Loblaw reported its sixth consecutive quarter of same-store sales growth on Thursday in a market in which new grocery square footage growth continues to outstrip demographic growth.
TORONTO • Loblaw Cos. Ltd. is committed to staying in Bangladesh and will work to improve worker safety standards after a garment factory at which Joe Fresh clothing was made collapsed last week, executive chairman Galen G. Weston said Thursday.
TORONTO • Fashion industry veteran Mario Grauso has been promoted to president of Loblaw Cos.’ in-house apparel brand Joe Fresh.
The move comes as part of a major management shuffle at the country’s biggest grocery chain last week, which saw Galen Weston named president of the retailer and the exit of former president Vicente Trius.
Mr. Grauso, most recently chief operating officer of the burgeoning apparel brand, was president of Vera Wang Group prior to being hired in September to oversee Joe Fresh’s international expansion efforts.
TORONTO — Canada’s largest supermarket chain has big plans for expansion this year, as it increases its footprint in the competitive grocery market.
Loblaw Companies Ltd. (TSX:L) says it will build 50 new stores and renovate or improve more than 100 existing stores in 2015. The additions will be across the country, and Loblaw’s estimates it will create about 5,000 jobs at its corporate and independently-owned stores.
Loblaw Cos. Ltd. had made renewed commitments to compensate the victims of a factory collapse in Bangladesh where its Joe Fresh garments were made.
Canada’s biggest grocery chain made the announcement on the six-month anniversary of the disaster, which killed more than 1,100 and injured 2,500.
“Loblaw will begin providing long-term, direct financial compensation for the victims and their families that were producing our apparel at the New Wave Style factory in Rana Plaza, in 2014,” said Loblaw spokesman Bob Chant.
Revenue soared 37% to $10.3-billion at Loblaw Cos. in the second quarter as the food giant enjoyed gains in scale after swallowing pharmacy chain Shoppers Drug Mart.
Loblaw reported a net loss of $1.13 per share in the period ended June 14 compared with earnings of 63¢ in the second quarter of 2013, but managed to beat analysts’ estimates for the period, which accounted for special items related to the Shoppers transaction last year.
Whole Foods and Trader Joe's are often praised for reinventing the grocery business. But Kroger is thriving in a difficult market for grocery stores. The supermarket chain has reported positive comparable-store sales for 45 straight quarters.
Loblaw Companies Ltd, Canada’s largest grocer, reported a better-than-expected quarterly profit, boosted by strong pharmacy sales at its recently acquired Shoppers Drug Mart business.
Loblaw, majority-owned by George Weston Ltd, bought Shoppers Drug Mart Corp last year to better compete against the expanding Canadian businesses of U.S.-based rivals such as Wal-Mart Stores Inc and Target Corp.