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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 6,450,000
Close 2024-07-22 C$ 39.57
Market Cap C$ 255,226,500
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Globe/CP Metro, rivals hear code good for business

2024-07-22 07:57 ET - In the News

See In the News (C-MRU) Metro Inc

The Globe and Mail reports in its Saturday edition that according to Kraft Heinz Canada president Simon Laroche a grocery code of conduct could stabilize food prices in the future and encourage more investment in the Canadian food industry. A Canadian Press dispatch to The Globe reports that Mr. Laroche says, "It creates a better trade environment for both the supplier and the retailer, but I think at the end of the day, the consumer is winning." He thinks the code of conduct could bring some stability to an industry emerging from a difficult four years marked by empty shelves, sticker shock and rising consumer frustration. He says, "[The code] helps big companies to have more confidence that they can do business long-term in a fair way." CP says Mr. Laroche is happy to hear the grocers are on board with the code. He believes it will be a positive thing for consumers and for the industry. He says a code brings transparency and encourages fair negotiations between suppliers and retailers. He adds that one of the most important benefits is a clear dispute-resolution process. Negotiations between grocers and suppliers, long hidden from public view, became hot-button issues during the pandemic as inflationary pressures rose.

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