Loblaw's most recent quarterly report said its retail-section adjusted gross profits had increased by 10 basis points to 30.8% and that 'net earnings available to common shareholders of the Company were $556 million, an increase of $125 million or 29.0%.'
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In the wake of last week’s “chickengate” — in which Loblaws shoppers in Toronto were furious after seeing a photo of five chicken breasts priced at $37.03 that was tweeted by CTV’s Siobhan Morris — the grocery giant had some explaining to do.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The grocer also blamed inflation, supply chain issues and an avian influenza for the general rise in chicken prices, but consumer reaction wasn’t great with Loblaws being accused of price-gouging.Article content
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