Sunday 26 November 2023

Canadian grocery chains report rise in profits as shoppers struggle amid rising costs

Global News on Youtube has the story about the Canadian economy.

Two of Canada’s biggest grocers reported a rise in sales and profits year-over-year in their latest quarterly earnings reports on Wednesday.

According to Metro and Loblaw, sales growth in their pharmacy and cosmetics divisions helped drive profits in the last quarter.

But the increase in profits comes as Canadians are increasingly frustrated with rising costs.

Ahmar Khan breaks down the numbers.

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