Loblaw says financial impact of May boycott 'minor', as sales grow and profit slips
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 25 2024
0mins
Source: Yahoo Finance
Loblaw's Financial Impact from Boycott: Loblaw executives reported that the May boycott had a minor financial impact, with sales returning to normal by the end of the second quarter despite a 10% decline in net profit attributed to a $500 million bread price-fixing settlement.
Sales Performance and Market Conditions: The company experienced a 1.5% increase in total sales, but same-store sales growth significantly dropped to 0.2%, influenced by unfavorable weather conditions and strong comparisons from the previous year.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
