Loblaw Reports $13.58 Billion Q1 Revenue Amid Retail Growth and Boycott Threat
Despite a Reddit-led boycott, Loblaw's Q1 earnings exceed expectations with a 4.5% revenue increase and heightened demand for essentials.
- Loblaw's Q1 revenue reached $13.58 billion, a 4.5% increase from the previous year, driven by growth in food and drug retail sales.
- A Reddit group with over 60,000 members initiated a boycott against Loblaw's high grocery prices, though its impact remains uncertain.
- CEO expresses cautious optimism about adopting a grocery code of conduct to ensure fair industry practices.
- Loblaw raised its quarterly dividend by 15%, reflecting confidence in its financial health.
- Analysts note easing food prices and resilient consumer demand as key factors supporting Loblaw's strong performance.
Financial Post 
