Loblaw announces expansion and renovation of hundreds of stores and people are livid
As Canadians continue to bemoan high grocery prices at stores like Loblaws, the grocery chain’s parent company has just announced plans to open dozens of new stores and renovate hundreds of others.
Loblaw Companies Ltd. divulged on Tuesday morning that it will expand with more than 40 new supermarket locations nationwide, along with moving 10 stores and revamping a whopping 700 or so.
The brand is trying to position the move as “investing where Canadians need it most,” touting the thousands of jobs that will come of the growth and calling it a $2 billion injection into the Canadian economy rather than into itself.
But, aggrieved shoppers who have been questioning our exorbitant food prices and grocery store’s record profits are not having it.
So… more stores, no additional competition. More places I could never afford to shop at. Sounds great. -_-
— Ravyn Skye 🍎🍎 (@RavynSkye1) February 20, 2024
Some are calling the development “concerning,” as it will mean further market domination by the Weston family-owned conglomerate rather than the much-needed competition that officials have been calling for.
Others are seeing it as misplaced priorities, as Loblaw is apparently able to put forward so much cash to improve its own reach, but not able to cut its consumer-facing costs.
I’m telling to Loblaws people !..
.. we do not need anymore stores
.. what we need is cheaper food
prices !!!….do what’s necessary first !!…— Antonio Da Silva. (@Twitario1000) February 20, 2024
“It’s insane that Loblaws is speaking as if they are a democratic institution whose goal is to benefit Canadians, when in fact they are a ruthless corporation whose goal is to benefit executives and shareholders,” one person wrote, summing up the sentiment that many seem to have this morning.
Others simply replied with calls to boycott Loblaws and all other stores under its umbrella, which include No Frills, Real Canadian Superstore, Valu-Mart, Shoppers Drug Mart, Zehrs and others.
Will boycott all of them.
— Problem Solving 101 (@JoTreps) February 20, 2024
A few others joked about where the money to fund these ambitious developments came from…
I believe I’ve personally paid for one of these. Y’all can shop free at my store.
— The Man in Black (@maninblack63) February 20, 2024
While others wondered why this was happening now, just as politicians are trying to attract foreign-owned chains to enter the market.
“Loblaws wants to saturate the market and enact non-compete clauses into areas not yet covered,” one person aptly speculated.
Loblaw’s news release does state that the 40+ stores in the way will be “new discount stores,” meaning likely No Frills or Valu-Mart rather than Loblaws. It also announced 140 new pharmacy care clinics.
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