this post was submitted on 02 May 2024
52 points (98.1% liked)
Canada
7203 readers
379 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Loblaws could give $300 to every single person in Canada. Every infant, every centenarian, every human being in this country could get $300, either in cash or to put towards groceries.
And Loblaws would still have a profit of over a billion dollars for the past year.
I'm not sure that math works? They earned $460M in profit for Q1, so that's about $1.84B in profit over a year. Divide that by 39 million people in Canada and you have $47 per person, which is nowhere near $300 per person plus $1B.
Still obscene profit margins, but let's do the math correctly.
If you think about it the other way around, it's pretty fucking scary though. Loblaws is extracting the equivalent of $47 in raw profits from every man, woman, and child in the entire country.
Hmm, hard to quantify since I’m not sure how much of the population does a significant portion of grocery and other shopping at Loblaws, but in that context it doesn’t seem so bad. If we taxed those profits completely that only puts an extra $50 in everybody's pocket each year, which doesn’t seem like it’d really have a large financial impact on many households.
I don't know what Loblaw's market share is. Let's say it's 30%. That makes it MUCH worse... Neatly $150 for every man woman and child that shops at Loblaws, JUST THIS YEAR.
Maybe $300/month, or $3600/year for groceries. Maybe another $200/year each for prescriptions, alcohol, and general housewares to cover the non-grocery items. $150 profit on $4200 of revenue would be about 4% margin. Doesn’t seem that high to me but I also don’t really know how that compares to other businesses in the same market.
FYI, almost every single item you find in a retail store is marked up 50% or more, with the only exceptions being commodities like gas and diesel, or electronics, where the manufacturers make the majority of the profits.