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Re:Canadians are now stealing overpriced food from grocery s... by voisin on Sunday January 15, 2023 @04:37PM (#34393755)
Having options of places to go to pay essentially the same price doesn’t feel fine to me. We’ve got four major chains within a 5 minute drive and two very small independents, and the prices at the chains are all within a few percent of each other unless you want to mix and match each week for the various items on sale. This would normally mean that the market had found the equilibrium price that eliminates excess profits but, like our telecom industry, there are record profits. The variety of options is just for show, masking the inherent price fixing by the oligopoly.
Re:Canadians are now stealing overpriced food from grocery s... by bawolff on Monday January 16, 2023 @12:16AM (#34397091)
I mean, it seems pretty disputed that there actually is record profits. E.g. https://globalnews.ca/news/9098447/canada-inflation-grocers-...
Re:Canadians are now stealing overpriced food from grocery s... by voisin on Monday January 16, 2023 @06:54AM (#34399721)
This link just shows that the profit margin hasn’t increased. Record high profits occur when record high sales occur even if the profit margin is constant.

This link also only looks at gross margin - if revenues and gross profit increase, their fixed operating costs (rent for example is usually fixed for 10-20 years for grocers, or the site is owned by the grocer) are now spread over higher sales so their operating profit (EBIT or EBITDA) can increased dramatically.

Re:Canadians are now stealing overpriced food from grocery s... by bawolff on Monday January 16, 2023 @11:54AM (#34402581)
> Record high profits occur when record high sales occur even if the profit margin is constant.

Sure, but why would anyone call such a situation profiteering?

Furthermore it seems unlikely that the amount of food canadians have eaten has changed significantly over the last few years. Its not like the population increased significantly.