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At a glance, to some people, this might not sound like they're making that much.
However, $25 worth of groceries is not many items on average and that $1 in profit is expenses from cost of the product, overhead expenses, employee wages, etc are all paid.
We watched much of this live yesterday. I got a kick out how often Weston repeated over and over, how they make $1 profit on a $25 basket of groceries.
At a glance, to some people, this might not sound like they're making that much.
However, $25 worth of groceries is not many items on average and that $1 in profit is expenses from cost of the product, overhead expenses, employee wages, etc are all paid.
Back in the day when knowing this stuff was part of my my job, grocery stores were making 1% net profit. $1 on $25 is 4%.
Nationalize the lot of them.
We watched much of this live yesterday. I got a kick out how often Weston repeated over and over, how they make $1 profit on a $25 basket of groceries.
At a glance, to some people, this might not sound like they're making that much.
However, $25 worth of groceries is not many items on average and that $1 in profit is expenses from cost of the product, overhead expenses, employee wages, etc are all paid.
Back in the day when knowing this stuff was part of my my job, grocery stores were making 1% net profit. $1 on $25 is 4%.
Exactly! Using that $25 measure is very misleading unless you do the math and look at the big picture. Quite deceptive of them to try to trick people into thinking they are only "saving" $1 on that basket of nothing.
They are also deflecting by saying their profits are on sectors like cosmetics. Doesn't fly. They are the point of sale where chicken is now triple the cost it was 2 years ago.
Nationalize the lot of them.
Yes, they did emphasize the non-food items as being a big part of their profitability which tells me they are milking it on pharma, beauty and household goods (TP, tissue, cleaners etc). I know from shopping at safeway (for example) I'll only glance at these things and know that much of it, if not all, is less expensive elsewhere. London Drugs is still my go-to when it comes to these types of goods and at least they are based here in BC and not part of one of the big corporations. They don't have a huge grocery selection but what they do have is often priced lower than grocery stores, especially when on sale.
I've mentioned before in another thread that small, independent stores have better produce prices although you would that the big guys would get better pricing based on volume. So how does that explain how a little guy can sell at a lower price and still be in business?
They would, but the smaller guys don't have as much administrative staff to run things. That's part of it at least.
True enough. Their "admin" area is likely a desk in the back room with a laptop on it.