The exterior of a Walmart department store in West Haven, Conn., on Feb. 17, 2021. (Mike Segar/Reuters) Walmart Canada is not trying to profit from food inflation, president and CEO Gonzalo Gebara told a parliamentary committee studying the issue Monday evening.
Gebara told MPs that Walmart Canada’s gross profit rate for its food business declined last year, as did the company’s total operating profit in dollars. However, he declined to provide specific numbers for the private business, saying Walmart Canada has provided relevant financial information to the Competition Bureau.
MPs pressed Gebara on the fees and penalties that grocers charge suppliers. These fees are one of the topics being discussed as part of efforts to create a grocery code of conduct.
Gebara said Walmart Canada has received a draft of the code of conduct recently and is reviewing it.“We will support any initiative that would bring better conditions and the ability to […]
Read the Whole Article From the Source: www.theepochtimes.com
