Loblaw Profit Drops On PC Optimum Merger Costs
by Francine Kopun, Business Reporter
Posted: 2018-02-23 15:39:54 EST

Loblaw Companies Ltd. recorded a charge of $107 million in the last quarter of 2017 in relation to the $25 card offered to customers affected by the company’s bread price-fixing activities, but declined to discuss the issue with financial analysts on an earnings call Thursday.

The company expects that the $107-million charge for the quarter will be an offset against future civil liability. Loblaw announced in December that it would file a $75- to $150-million charge for the quarter related to the card program.

Analysts were advised at the beginning of the earnings call that Loblaw executives would not comment on the bread price-fixing matter.

To read the rest of the story, please go to: Business Reporter