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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 6,400,000
Close 2024-07-18 C$ 39.19
Market Cap C$ 250,816,000
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Globe says Loblaw, rivals agree to new code of conduct

2024-07-19 06:32 ET - In the News

See In the News (C-L) Loblaw Companies Ltd

The Globe and Mail reports in its Friday, July 19, edition that after years of negotiations, all major Canadian grocers have agreed to participate in a new self-regulatory code of conduct for the first time. The Globe's Susan Krashinsky Robertson writes that this week, both Costco Canada and Walmart Canada agreed to participate in the new rules, which are designed to smooth relations between retailers and their suppliers. Their agreements follow Canada's largest grocer, Loblaw, which also dropped its earlier opposition to the code in May. This means that all of Canada's largest grocers, as well as a number of regional and local independent retailers across the country, have now committed to participating. Also, all "key suppliers, large and small," that provide food to those stores' shelves have agreed to take part. That is according to a report from the Office of the Grocery Sector Code of Conduct interim board of directors, which was provided to Canada's federal, provincial and territorial agriculture ministers on Wednesday. The code is unlikely to provide any relief to Canadians still reeling from significant increases in grocery prices. The new code is expected to be implemented by June of next year.

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