"What a joke": Canadians drag Galen Weston Jr. for defending high food prices

For every $5 (we will call it Oreos -wholesale price) product Loblaws sells for $5.70 they make their $0.70 gross profit. From that profit the have to cover all their labor and operating costs, capital projects (new stores and maintaining old stores) and pay dividends to the share holders.

For every 1 package of Oreos sold in Canada 10 are sold in the USA. So considering the lower US markup of 2% a store in the US would make $0.35 (per package) x10 = $3.50 gross profit.

That is a huge difference in operating capital and gross profit. 5x the gross profit based on margins.

Hey I am not rich at all and at times live from paycheck to paycheck. I am just trying to print out actual, hard facts.

/r/onguardforthee Thread Parent Link - dailyhive.com