Food and beverage retail net profit margin has consistently exceeded 3% of total revenue since mid-2021, more than double the average margin between 2015 and 2019.
Grocers have also been under pressure to adhere to a grocery code of conduct that is nearing completion. Its supporters say it will help level the playing field between suppliers and large retailers.
Federal Agriculture Minister Lawrence MacAulay said Thursday that he and his provincial counterparts, as well as federal Industry Minister François-Philippe Champagne, would meet to discuss options. #x27;offers to the provincial and federal governments if major grocers do not sign the code. MEPs that the company feared that certain provisions of the code would increase the price of the grocery basket, because they give too much negotiating power to large multinational food producers.
He said his company would sign the code, but not in its current form.
The president and head of The management of Walmart Canada, Gonzalo Gebara, responded to MPs that the company was not currently able to commit to respecting the code. He said the current version includes provisions that create bureaucracy and costs, costs that will inevitably have an effect on sales prices.