The CEOs and presidents of Loblaw, Metro and Empire are set to testify before the House of Commons agriculture committee on Wednesday as part of its study on food inflation
– which operates chains including Sobeys, Safeway and FreshCo – are set to testify before the House of Commons agriculture committee on Wednesday as part of its study on food inflation.
The proposal to hear from the industry leaders came from the party’s agriculture critic, Alistair MacGregor, and it received unanimous support from Liberal, Conservative and Bloc Quebecois MPs on the committee., Charlebois said MPs have an opportunity to push for more financial information that could shed light on what’s been driving profits.
And while Loblaw has said its profits have been driven by nonfood items such as its pharmacy products, its financial statements don’t break down the margins for different categories of goods. And even if profits are being driven by lipstick or soap sales, Macdonald said that shouldn’t necessarily insulate the companies from scrutiny.
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