Canada’s largest grocery Loblaw Companies Ltd announcing today they will be closing 52 stores over the next year.
The move would reduce sales by nearly 230 million dollars but would cut operating costs annually by 35-40 million.
The company’s quarterly consolidated sales are up 2.2% over the same period of time last year.
Saddened to hear the news from #Loblaws today. My thoughts are with the thousands of Canadian families impacted at this difficult time. ―TM
— Tom Mulcair (@ThomasMulcair) July 23, 2015