Loblaw announces support for revised Grocery Code of Conduct

BRAMPTON, ONTARIO, Could 16, 2024 – Loblaw Firms Restricted (TSX: L; “Loblaw”) introduced at present its help for Canada’s Grocery Code of Conduct (the “Code”). The announcement, made on the Firm’s Provider Summit with greater than 1,300 suppliers, is a part of Loblaw’s continued dedication to selling a good and clear grocery {industry} in Canada.

This choice follows a collection of discussions the Firm held with the Code Interim Board and Working Group over the previous six months. The ultimate a part of this course of might be for all main {industry} contributors to signal the Code.

“We now have labored intensively and collaboratively with {industry} teams in order that the Code is clearly drafted and honest for all {industry} contributors,” mentioned Per Financial institution, President and CEO, Loblaw Firms Restricted. “We imagine within the worth of a code of conduct for the {industry} and are pleased with the progress made. The Code now requires the participation of all main retailers and suppliers to assist usher in a brand new period for Canada’s grocery {industry}, enhancing the connection between retailers and suppliers, who each exist to finest serve prospects.”

The trail to the Code was initiated by the Federal-Provincial and Territorial Ministers of Agriculture as a volunteer, industry-led resolution. The Code’s greater than two-year growth has been a collaboration by organizations throughout the grocery {industry} – together with retailers, processors and producers – to make sure help throughout all the provide chain. All through this time, a big focus of the session was on creating a code that works for small suppliers, customers and the {industry}, recognizing the complexities of the Canadian grocery market.

“It’s welcome information that Loblaw has agreed to take part within the Grocery Code of Conduct,” mentioned Michael Graydon, Chair of the Interim Board for the Code of Conduct. “Inside a really complicated meals system, the imaginative and prescient for the Code has all the time been based mostly on a completely inclusive, voluntary Code, developed by the grocery {industry} and managed by its stakeholders throughout the availability chain. We’re one step nearer to the implementation of the Code as we proceed to work with all {industry} companions to make sure we have now most participation by all stakeholders.”

Loblaw will proceed to work with the {industry} because the Code is finalized and put into follow.

For extra data: [email protected](Open in a brand new tab)

About Loblaw Firms Restricted
Loblaw Firms Restricted is Canada’s meals and pharmacy chief, in addition to its largest retailer and personal sector employer. With over 1 billion transactions every year in its unmatched community of two,500 shops and nationwide e-commerce choices, Loblaw brings meals, pharmacy, magnificence, attire and monetary providers to prospects by means of a lot of Canada’s favorite and most-trusted manufacturers: President’s Alternative, No Title, Loblaws, Buyers Drug Mart, No Frills, Actual Canadian Superstore, T&T, Joe Recent, PC Specific and PC Monetary. The Firm’s loyalty program, PC Optimum, has greater than 16 million energetic members and is one in all Canada’s largest and best-loved reward applications.

Loblaw’s objective is to assist Canadians stay life nicely. It makes good meals reasonably priced, well being, magnificence and wellness accessible, saving for the long run attainable, and important fashion achievable.

Ahead Wanting Statements
This press launch could comprise forward-looking data throughout the that means of relevant securities laws, together with with respect to the finalization and adoption of the Code and its potential impacts on Loblaw, its suppliers, prospects and the grocery {industry}. Such forward-looking data is predicated on quite a lot of assumptions and displays Loblaw’s present expectations. Loblaws doesn’t undertake any obligation to replace such forward-looking data, whether or not because of new data, future occasions or in any other case, besides as expressly required by relevant regulation. All forward-looking statements contained on this press launch are made as of the date hereof and are certified by these cautionary statements.