Loblaw ends three-month price freeze on all No Name products
Loblaw has ended its three-month price freeze on all of its No Name products.
Despite this, the Canadian grocery giant vows to keep the brand’s prices flat.
“The more than three-month price freeze ends January 31 — but we’re not done,” a Loblaw spokesperson told Daily Hive in an email on Tuesday.
“Looking ahead, we’ll continue to hold those prices flat wherever possible, and switching to No Name will still save the average family thousands this year.”
This news comes after Loblaw announced a price freeze on more than 1,500 items from the No Name brand last October.
The retailer said the move was “in an effort to help customers deal with some of the worst food inflation Canada has ever seen.”
Loblaw President and Chairman Galen Weston shared the news in a message emailed to customers, which was met with anger and frustration.
Loblaw Companies Limited
“I’m reaching out today to address an issue that’s top of mind for most Canadians: food prices,” wrote Weston.
“The price of an average basket of groceries is up about 10% this year… and almost 15% over two years. For some items — like butter, apples, soups, and chips — prices are up much more than that.”
He blamed heftier grocery bills on higher supply chain costs.
“Suppliers’ basic costs are way higher than they’ve been in decades — no different than costs like the gas in your car, or your rent or mortgage,” he wrote.
All the while, the company made an extra $1 million per day during the height of inflation last year.
The price freeze covered fresh produce, dairy items, and pantry items, as well as essentials such as paper towels and toilet paper.
It was implemented at more than 2,400 Loblaw stores across the country, which includes Loblaws, Zehrs, Real Canadian Superstore, No Frills, T&T, Atlantic Superstore, Maxi, and Shoppers Drug Mart.
The No Name brand line boasts saving their customers around 25% of their grocery bills when compared to other name brands.
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