13 votes

Loblaw says financial impact of May boycott 'minor', as sales grow and profit slips

13 comments

  1. [6]
    stu2b50
    Link
    As you'd probably expect, the "boycott" has not particularly manifested in Loblaw's bottom line, with sales increasing over the period, and net profit only slipping due to their settlement over...

    As you'd probably expect, the "boycott" has not particularly manifested in Loblaw's bottom line, with sales increasing over the period, and net profit only slipping due to their settlement over bread price fixing.

    Moreover, the subreddit /r/loblawsisoutofcontrol has fully gone into cult mode, and lives in some alternate reality where the grocer is quaking in its boots, and will either collapse or lower prices... uh, tomorrow! Or the day after! But Soon! Surely!

    The latter is just so fascinating to me. How, of all things, do internet pseudo-cults form around things like... gamestop stock, and loblaws? It's also really interesting how in both cases there is little to no actual effect in the real world from their organization, and if anything their existence allows for people to channel their grievances and negative feelings into a pocket dimension where it can bounce around and fade into nothingness.

    15 votes
    1. [5]
      MimicSquid
      Link Parent
      How do you feel ok in the face of these titans whose steps shake the earth? Delusions of power, become a collaborator and identify with the powerful, surrender to hopelessness so you don't have to...

      How do you feel ok in the face of these titans whose steps shake the earth? Delusions of power, become a collaborator and identify with the powerful, surrender to hopelessness so you don't have to resist?

      It's hard to find a path forward that actually causes a change, and it's rarely going to be convincing everyone to suffer until people feel that chosen suffering is better than having suffering thrust upon them.

      11 votes
      1. first-must-burn
        Link Parent
        This is so eloquently put. Thank you for your words.

        It's hard to find a path forward that actually causes a change, and it's rarely going to be convincing everyone to suffer until people feel that chosen suffering is better than having suffering thrust upon them.

        This is so eloquently put. Thank you for your words.

        7 votes
      2. [3]
        zenen
        Link Parent
        I'm curious - as someone that agrees with your line of questioning, what do you do to feel okay in the situation you're describing? I try and address what I see as the root causes as much as...

        I'm curious - as someone that agrees with your line of questioning, what do you do to feel okay in the situation you're describing?

        I try and address what I see as the root causes as much as possible, but I feel like that looks different for each person.

        4 votes
        1. [2]
          MimicSquid
          Link Parent
          I try to focus on a realistic perspective regarding my actual agency, and do the things I actually can do anything about. As a consumer, I can't make a giant chain do better, but I can spend a...

          I try to focus on a realistic perspective regarding my actual agency, and do the things I actually can do anything about.

          As a consumer, I can't make a giant chain do better, but I can spend a little more to support businesses that have thinner profit margins and take better care of their people. I can't entirely fix global shipping of goods, but I can try to buy local even if it's more expensive. I can't fix fast fashion, but I can buy clothes second hand and repair them as long as possible, and then use the rags afterwards. I'm small, and nothing I do is likely to change the world in a noticable way, but I can take the small steps to keep my footprint low.

          I've also changed careers. I used to provide accounting and operations consulting for anyone who could pay me, but I recently took a pay cut to work part time with a nonprofit who is engaging in the sort of advocacy I care about. Accounting and operations are such value agnostic professions. Everyone needs them, but the bookkeeping is the same whether you're extracting blood from the orphan-crushing machine or working to make sure that every kitten and puppy has a good home. So I'm turning my professional skills to supporting an organization who can actually hold cities to account for their policies and how they affect people.

          So I'm working on it from both a consumption and production perspective. And I recognize that not everyone has the time or resources to do so, so I don't cast shade on people who live their lives differently, or fall to helplessness one way or another. We all are doing what we can.

          13 votes
          1. zenen
            Link Parent
            Something that I find to be an undervalued perspective is the fact that your actions are actually noticeable. If not to anyone else, then just to you. That means something though, because you get...

            Something that I find to be an undervalued perspective is the fact that your actions are actually noticeable. If not to anyone else, then just to you. That means something though, because you get to be living proof that people actually care enough to do something about it. People around you notice as well, even if they aren't going to immediately hop on the bandwagon for a better future.

            5 votes
  2. [2]
    plutonic
    Link
    To me the whole thing was always absurd, around where I am 'Real Canadian Superstore' which is owned by Loblaws is one of the cheapest grocery stores, the only place cheaper usually is Walmart or...

    To me the whole thing was always absurd, around where I am 'Real Canadian Superstore' which is owned by Loblaws is one of the cheapest grocery stores, the only place cheaper usually is Walmart or if you are lucky a local fruit and veggie store. Shopping for groceries at Walmart to me is a nightmare, the store and shelves are a mess and the produce is terrible. There is a chain here 'Save-On-Foods' where the prices can be literally double that of the Loblaws owned store, and it isn't even a 'boutique' grocery store, those are even more expensive.

    Loblaws profits are somewhere around 3% and that is considered robbery and gross profiteering? So if I come up to the till and my bill comes to $100 and a siren goes off, Mr Weston himself emerges from the back of the store and proudly declares that this lucky customer will have all profit removed from his bill, I now owe $97.

    This boycott was misdirected from the beginning, go take a look at the profit margins for Nestle, McCain, Coca-Cola and tell me who the real profiteers are in the food game.

    9 votes
    1. pseudolobster
      Link Parent
      From what I understand out east they're far less competitive. You've got competition from Metro, Sobeys, Giant Tiger, etc, which are all pretty big chains with lots of locations, vertically...

      From what I understand out east they're far less competitive. You've got competition from Metro, Sobeys, Giant Tiger, etc, which are all pretty big chains with lots of locations, vertically integrated supply chains, huge purchasing power, etc. In western Canada (on the island anyway) we have Save On, Thrifty's, and tiny regional grocers like Red Barn, 49th, Fairways. Save-on being the only one with more than a couple dozen stores.

      4 votes
  3. [5]
    Wafik
    Link
    I don't know if most people who took part in the boycott actually thought it was going to hurt Loblaws financially. We participated but we are also shopping there again. For me, I think the best...

    I don't know if most people who took part in the boycott actually thought it was going to hurt Loblaws financially.

    We participated but we are also shopping there again.

    For me, I think the best anyone could hope for is two things.

    1. Change habits. People figure out they are happy shopping elsewhere and keep that up after the boycott.

    2. Send a message to Loblaws that not all of their customers will put up with their price gouging. Whether or not they listen or care, who knows.

    The only power we have against corporations is to vote with our wallet and that's rarely enough.

    4 votes
    1. [2]
      chocobean
      Link Parent
      We did too. Sometimes, I don't protest because I believe it would "work", but because another protester once said, "it is my duty". An egg thrown against a brick wall. But I don't want to be one...

      We did too.

      Sometimes, I don't protest because I believe it would "work", but because another protester once said, "it is my duty".

      An egg thrown against a brick wall. But I don't want to be one of the silently cynical staring at a pristine wall.

      But even if I cant create losses for Loblaws, there are gains purely for us: I found new farmers market vendors, I got to talk to more farmers, we tried new "weird" food from another store, and we ate up more of the COVID stocked canned goods using new recipes.

      8 votes
    2. [2]
      vord
      Link Parent
      Like, I'm pretty sure the only way you could convince the world to fully boycott Amazon would be if Jeff Bezos walked out on stage during a presidential debate and then shot three kids and...

      Like, I'm pretty sure the only way you could convince the world to fully boycott Amazon would be if Jeff Bezos walked out on stage during a presidential debate and then shot three kids and strangled a puppy on live TV.

      Even then, I'm not convinced it would be a successful enough boycott to kill the company.

      5 votes
      1. Wafik
        Link Parent
        Yeah you're not wrong. It's hard to see a path around or through corporate control and political corruption. If it would stop voting for clowns who are bought and paid for by corporations that...

        Yeah you're not wrong. It's hard to see a path around or through corporate control and political corruption. If it would stop voting for clowns who are bought and paid for by corporations that would go a long way.

        2 votes