Snowshadow,
@Snowshadow@mastodon.social avatar

Loblaws made over 2 billion in profits last quarter, that's aprox. $50 for every Canadian.

They say they are reinvesting in their company, but they spent 1.7 billion on stock buybacks to drive up stock prices.

Profits weren't used for infrastructure and did not go to employees.

Meanwhile, prices increase and inflation is rising.

@gemelliz

Gordarnit,
@Gordarnit@union.place avatar

@Snowshadow @gemelliz Imagine if Loblaws had used some of that money to upgrade HVAC systems to protect their customers instead.

gemelliz,
@gemelliz@mstdn.ca avatar

$2B profit

Loblaws owns an obscene amount of land through their subsidiary Choice Properties.

Their newest project is a massive 1.2 million-sq-ft distribution centre at Woodbine Ave & Green Lane near Newmarket..💥.. located right beside Premier Ford's proposed Bradford Bypass.

Despite running directly through the , the bypass is a done deal. Remember 's newest legislation aimed at preventing any court challenges from stopping construction on that highway?? 🤔

@Snowshadow

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