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Canada's supermarkets are losing the battle for your grocery bill [Globe and Mail, The (Toronto, Canada)]
Last costco wholesale corporation earnings: 3/5 04:15 pm
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml?c=83830&p=irol-irhome
consumers have already massively shifted their grocery shopping away from Canada's supermarket oligopoly. And the big winners include foreign giants such as Walmart and Costco. While Statistics Canada reported a drop in retail sales this week, one big exception was the general merchandise category. Compared to last year, general merchandisers saw inflation-adjusted sales climb 12 per cent, while food and beverage stores suffered a real sales decline of 0.9 per cent. Those numbers don't break out what items shoppers were buying. But retail commodity data released earlier this month by Statscan does, and it shows that food sales at general merchandisers are vastly outpacing those at traditional grocery stores. As of the fourth quarter of 2023, real food purchases at general merchandisers grew nearly 16 per cent from the year before, nearly eight times faster than the pace at food and beverage stores. In fact, for every dollar Canadians spent on food at grocery stores in the four
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