The Globe and Mail reports in its Thursday edition that Loblaw continues to lean into discount stores and private label products as consumers relentlessly hunt for value. A Canadian Press dispatch to The Globe reports that chief executive officer Per Bank said Wednesday during a fourth quarter earnings call that Canadians are prioritizing value more than ever. Promotional pickup remains high, with President's Choice and No Name products outperforming national brands due to their economic appeal. Even in produce, Mr. Bank said consumers are going for the cheaper alternatives. Loblaw opened 48 No Frills and Maxi stores last year and it seems to be "working very well," Mr. Bank told analysts. He said, "We know that affordability is so important for many households, and that's why we are expanding our hard-discount network." Chief financial officer Richard Dufresne said plans for this year remain the same as last year. He said, "New store investment will be similar to last year, with an increase in Shoppers Drug Mart stores." Loblaw posted a profit of $656-million, or 55 cents per diluted share, for the 13-week period ended Jan. 3, up from $462-million, or 38 cents a share, in the 12-week fourth quarter of 2024.