The Loblaw purchase of Shoppers Drug, Canada's largest drug
store chain, is actually a move by one family not to let
foreign competition dominate Canada's retail scene without a
fight - a bold move Fights take place on all levels and
here's one at the very top of the food chain. As 63% owners
of Loblaws, Canada's largest grocery retailer, the Weston
family bought Shoppers Drug this week in a move that shows
they're going to fight all the foreign retailers coming to
Canada. This family, the second richest in Canada worth $8B,
owns retailers, bakeries, and groceries across North America
and the UK. And Toronto-based Loblaws is one of the few
remaining Canadian powerhouses on the domestic retail scene.
The family remains heavily involved in all branches of its
retail and food empire, with grandchildren and
great-grandchildren of George, who started the business 131
years ago, running both the retail and philanthropic sides
of the Weston businesses around the world. More recently,
Galen Weston Jr, Galen's son and George Weston's 40-year-old
great-grandson, became Canada's public face of the
Bangladesh clothing factory collapse when he took
responsibility for its Joe Fresh brand's manufacturing
presence in the impoverished country.
Retail deal could be first of many: analyst
With an influx of competitors emerging on the Canadian
grocery retail scene, Loblaw Cos. Ltd. had to “make a big
move” to secure its place atop the industry, says one
analyst. The move indicates Loblaw’s recognition that “it’s
still a very real threat that these international companies
are expanding operations in Canada, and a course of action
was required,” he said. In June, Empire Company Ltd., which
operates Sobeys Inc., reached a deal to buy more than 200
Canada Safeway stores in Western Canada for $5.8 billion.
Canada was a pretty sleepy place for the past five years in
terms of competition (in the grocery market),” Grier said.
“Not anymore.” Similar moves to shore up market share by
retailers such as B.C.-based Overwaitea Foods, Metro Inc. or
Jean Coutu Group could be forthcoming, he said.
Yankee Candle names Canada GM, to grow Canadian store count
The company currently operates six company-owned retail
stores in the Greater Toronto Area. As part of planned
global expansion efforts, this new business unit will focus
on building out the gift and specialty business as well as
invest in building the retail store base to over 50 stores
in the next five years across the country.
Police arrest suspect in string of seven robberies in GTA
(Greater Toronto Area)
Peel Regional Police have arrested a man who is believed to
be responsible for a string of seven robberies at banks and
pharmacies in Mississauga and Toronto. Investigators said
they had a retail location in Mississauga under surveillance
and arrested the man prior to entering the store.
Retail Fast Fact: June 2013 - provided by Retail Council of
Total monthly retail sales changed by 4.3 per cent over the
comparable month last year.
Total sales excluding food, automotive and gasoline changed
by 2.7 per cent over the comparable month last year.
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