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Utopia Talk / Politics / 'Inflation' and corporate profits
Pillz
Member
Fri Nov 25 01:36:19
http://www...alen-weston-jr-getting-richer/

George Weston Limited reported net earnings of shareholders at $889 million, an increase of $651 million, or 273.5 per cent, citing "the favourable year-over-year net impact of adjusting items totaling $563 million."

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George Weston Limited being parent company of Loblaws, Canada's largest grocery retailer and pharmacy operator, and the country's largest private employer.

Theyre currently undergoing a nationwide strike crisis at their stores over union negotiations because playing people over minimum wage is obviously impossible.
Rugian
Member
Fri Nov 25 07:28:31
FYI, "adjusting items" primarily consisted of fair value remeasurements, which are non-cash items.

In terms of total revenues, 3Q YoY growth is around 5%, which is totally reasonable in a country where inflation is running at 7%/yr.

If this company has wage hike freezes in place or something, then sure I see the outrage. Otherwise OP seems like misleading rage click bait.
Habebe
Member
Fri Nov 25 10:23:13
"In terms of total revenues, 3Q YoY growth is around 5%, which is totally reasonable in a country where inflation is running at 7%/yr."

Taking this claim at face value*

I had been suspicious of these claims of "Since the pandemic they have high profits"

Do some companies/industry do some gouging? Absolutely. But i would be curious to see a fuller picture, expenses, losses, profits, the cause of profits etc.

patom
Member
Fri Nov 25 10:27:39
Nah, everyone knows it's all Hunter Biden's fault. The truth is somewhere inside his laptop.
Rugian
Member
Fri Nov 25 10:28:11
Habebe

No need to take my word for it. Get it straight from the sauce:

http://www.weston.ca/en/investor-centre.aspx
Habebe
Member
Fri Nov 25 12:42:37
Rugian, Thanks. I didn't mean anything negative by that btw. Just that those numbers would make more sense.
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