Loblaws Announces ‘Deeper’ Discount Up to 30 Percent; More Discount Stores to Open

Grocery store giant Loblaw Companies Ltd. says its making efforts to lower prices and increase point offers as Canadians struggle with cost-of-living challenges.  The promise comes 40 days before a planned nationwide boycott by thousands of customers who say the grocer’s prices are “out of control.” It also comes two months after Loblaw reversed an earlier decision to end its 50 percent discount on food products nearing their best-before dates. Loblaw chief financial officer Richard Dufresne said the company’s internal inflation rate in February was materially lower than CPI food inflation.  “An interesting example is margarine, where prices were lower last month than in January. In this example, vegetable oil prices have retreated from their peak and we’ve seen favourable harvest conditions for soybeans in South America,” Mr. Dufresne said in a press release....