Canada's grocery sector among the most competitive on Earth, claims Sobeys CEO

Hell's standard of living among the best on Earth, claims Satan

When do we start eating the rich?

Then their margins must be razor thin... Executive compensation really low...

Annnnnnd a quick check of their annual reports demonstrates that they are quite literally full of shit.

What a fucking clown.

Store employees do not have the right to check your receipt after going through the self checkout (unless it's at Costco)

You were never trained on the operation of a self checkout machine

Everything is a potato

Hahahahahahahaha!!! On earth he says!! Hahahah oh man.

So what? The demand for food is inelastic—all humans need a decent amount of it and you can't buy it used. Demand can never drop below a certain level, regardless of the price being charged. So regardless of how many companies are involved, they'll make the most money by keeping the prices high. Actual competition doesn't benefit them.

You could replace the full text of any grocery company's press releases and interviews these days with "Qu'ils mangent de la brioche," and express the same thing much more succinctly.

He's not lying, it's just that the competition they're playing is who can make the most profit.

Hahaha

They could start by focusing on profits instead of margins. I don't care if your margins are 50% or .005%, if you're extracting billions in profit, you have room to reduce your margins, preferably through some combination of price drops and increased wages for everyone who works in the actual retail outlet.

He's right, the only thing more competitive is our telecoms. /s

sobeys c-suite should be arrested along with the regulators that continue to rotate in and out of service to this large corporations and their fucking regulatory bodies and publicly executed.

Change my mind.

Thanks for the laugh

Anything beyond a 10% profit should be illegal and the CEO should be taken out and shot.

This is the best summary I could come up with:

The top executive at Sobeys asserted on Monday that Canada has one of the most competitive grocery retail sectors on the planet, even as Canadians continue to feel the bite of higher prices.

"Although our country's food inflation has been among the lowest in the world, and Canada is among the most competitive nations on Earth when it comes to grocery retail, this provides little comfort to Canadians who are struggling," Michael Medline told MPs on the House of Commons agriculture committee.

"We also have meaningful plans and development to help stabilize food prices past January, but will not discuss these publicly as they remained commercially and competitively sensitive until launched in our stores," Medline told MPs.

The rapid run-up in grocery prices following the COVID-19 pandemic has led to the heightened scrutiny of Canadian grocers, particularly as some of them have reaped high profits.

Alistair MacGregor, the NDP agriculture critic, spoke to reporters Monday afternoon ahead of the committee meeting and said he had reviewed the major grocers' plans to stabilize prices.

"And to tell you the truth, a lot of the information contained in these so-called confidential documents are stuff I could have found by reviewing their weekly flyers and looking with a simple Google search."

The original article contains 664 words, the summary contains 207 words. Saved 69%. I'm a bot and I'm open source!

Must be comparing it to one store towns.