Customers shopping for groceries should prepare to pay more as stores pass on the rising costs of the weak Canadian dollar, Loblaw Companies president Galen Weston Jr. said Wednesday.
In a corporate earnings call, Weston said international suppliers are putting pressure on the company to raise prices to offset the fall in the Canadian dollar, which has lost more than a tenth of its value against the greenback since July 2014. [...]
The price hikes are being introduced cautiously in Loblaw stores and the company is monitoring how customers react as many of the increases come in areas where consumers are most sensitive about price, he added. Click here to read more.
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