Loblaw Cos. Ltd.'s new chief executive said he's 'cautiously optimistic' that the company will be able to come to an agreement on the grocery code of conduct.
Loblaw Cos. Ltd.'s new chief executive said he's "cautiously optimistic" that the company will be able to come to an agreement on the grocery code of conduct.
Bank told analysts on the call that the company has been working in recent weeks with the committee creating the code. Bank's comments came as the parent company of Loblaws and Shoppers Drug Mart raised its quarterly dividend by 15 per cent to 51.3 cents per share and reported its first-quarter profit and revenue rose compared with a year ago.
"Our strong same-store sales combined with a lower internal inflation rate clearly highlights the strength of our discount banners, private label brands and PC Optimum offers," Loblaw chief financial officer Richard Dufresne said. "I think the shift to discount will continue over the next many years," he said, though it will likely do so at a slower pace.
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