Boycott Loblaws. One month from today.
General
Loblaws revenue was around 60,000 million dollars in 2023.
Loblaws their net earnings was $2,088 million in 2023.
So 3.5%
I'm not sure what everyone is getting mad at. 3.5% is nothing, this isn't greedflation.
Where's the other $58,000 million going? Sure, there's expenses for things like the costs of their products, wages, utilities. But then there's costs like food waste - which I'm sure have gone up because people can't afford their food. Clearly wasn't a concern to them when they planned to reduce the 50% quicksales to 30%. More write-offs for them. Then new buildings/stores and renovations that ultimately increase the company's value, I'd guess those impact the profits/revenue ratio.
They recently announced investing $2 billion into expanding. They currently operate 2,441 stores in Canada, bet those are worth a pretty penny. How much of that come out of their gross revenue?
Admittedly, I could be way off. I don't know the ins and outs of business taxes and balance sheets. But as it stands, I don't really buy into that they're running on razor-thin margins. I think they've got good accountants that make it look like they are, though.
Admittedly, I could be way off. I don't know the ins and outs of business taxes and balance sheets. But as it stands, I don't really buy into that they're running on razor-thin margins. I think they've got good accountants that make it look like they are, though.
Ok so you admit you don't know the ins and outs of business taxes and balance sheets, yet you don't buy into running on razor thin margins. How do you square this?
Loblaws is a publicly held company. That means with around $150 you too could own a piece of that company.
Becasue it's publicly held profits would go to the share holders. If what you are saying is true there would be a lot of people fairly angry and I don't mean the people buying food.
There is no hiding anything from anyone.
Their Market cap is 46,000 million, that's in line with a company that makes $2,000 million a year. If as you claim there are actually making more say $10,000 million or 21% profit then their valuation would be much higher.
There is simply no way to hide their money.
What's going on is people like you who don't have much financial literacy are being riled up buy other people. Maybe for clicks maybe for shits or maybe for something else. I don't know. But I've seen it all over the internet. This rage that companies are make a profit... ohh no. People are being fed large number and misinformation banking on the fact the majority of people don't know the difference between gross profit and net profit. For what I'm not sure. But it's kinda of sad all the manipulation going on.
I suppose it's all to pull the wool over peoples eyes. To find a scapegoat other then the people actually responsible. And I'm not talking conspiracy theories.