Canada’s major grocers are public companies, with obligations to report their finances. We know their net profit margins. And while they’ve generally grown in recent years, even Dread Pirate Loblaw is making a difference of less than four percent. If Galen Weston counted it up to two percent, Canadians wouldn’t notice a massive change in their grocery bills. Public grocers are buying the same things as private grocers, from the same wholesalers. Apparently they will pay their employees at least as well as the large United Grocers. The only conceivable competitive advantage is stocking fewer items, and I’m not sure that will draw people away from No Frills, which – say what you will about Westons – is a pretty exceptional supermarket.
