As food prices rise, many are quick to blame grocers for profiteering and taking advantage of consumers.
It is difficult to determine whether grocers have been inflating prices to benefit their bottom line. If greed exists in our grocery sector, how do we measure it? Well, our lab tried.From our newsroom to your inbox at noon, the latest headlines, stories, opinion and photos from the Toronto Sun.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.
Loblaw, though, is an exception. In Q1 of 2022, Loblaw outperformed its best years’ performances, equivalent to $68 million; in Q2 2022, it outperformed its best years’ performances by $112 million. So Loblaw’s gross profit thus far in 2022 outperforms its best performances of the past five years by $180 million, or about one million dollars a day to date.
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