Grocers have come under intense scrutiny in recent months for posting strong profits as many Canadians struggle with higher food costs
The first of Canada's big three grocers to release earnings this year is reporting a double digit increase in profits and a 10 per cent dividend hike for a period that saw food prices rise at the fastest pace in four decades.
Grocery inflation during the same period from Sept. to Dec. ping-ponged between 11 per cent and 11.4 per cent, according to Statistics Canada. Yet researchers have said a lack of transparency in the financial results of grocers makes it difficult to determine profit margins on food because companies lump different retail segments — such as food, pharmacy and general merchandise — together. Items such as cosmetics, over-the-counter drugs and apparel are thought to have higher gross profit margins.
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