11/14/2013

Traditional Canadian grocery chains Loblaw and Metro both reported lower third-quarter profits, largely as a result of price-cutting amid an influx of new rivals for consumers' food dollars. Wal-Mart and Costco are expanding in Canada, Target has opened 120 stores there this year and online retailer Amazon recently added food to its inventory. "Increases in square footage from incumbents and new entrants reached a critical mass," said Galen G. Weston, executive chairman of Loblaw.

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