Loblaw announced Monday that it would be freezing prices for 1,500 products sold under its No Name private label. But experts say the move is largely a PR tactic as Canadians and politicians accuse grocery giants of profiteering.
Retail expert Doug Stephens said he doubts the move was done out of altruism and notes that the profit margins on private label brands already tend to be “quite a bit higher” than national brands.
… The Loblaw No Name price freeze will be in effect until Jan. 31. Barry Millman, CEO of the Denbar Food Group in Cobourg, Ont., notes that the price freeze coincides with the “blackout period” between October and January, when suppliers like his company are prohibited from increasing the prices they charge to grocery stores.
A new low in cynicism! You can learn a lot from a billionaire who literally stole bread from the mouths of Babes.
