Company Statements

2018-01-08 $25 Loblaw Card
Loblaw discovered that Canadians were overcharged for the cost of some packaged bread products in our stores and other grocery stores across Canada. In response, we’re offering eligible customers a $25 Loblaw Card, which can be used to purchase items sold in our grocery stores across Canada. Registration and terms are available at www.LoblawCard.ca from January 8, 2018 to May 8, 2018....
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2017-06-29 Loblaw renews commitment to the Accord on Fire and Building Safety in Bangladesh
Today, Loblaw proudly joined leading international brands in a renewed commitment to the Accord on Fire and Building Safety in Bangladesh, working to provide protection and workplace safety in Bangladesh factories. 
 
Our three-year renewal will help extend the Accord’s good work, auditing and eliminating building risks in the facilities where suppliers produce our goods – and putting workers’ interests first. We appreciate the work done to date under the Accord, with 1,600 factories inspected and improved, and health and safety training conducted in factories employing nearly half-a-million workers. However, we know there is more to be done.
 
In addition to the controls and legal commitments of the Accord, Loblaw is separately continuing to monitor workplace conditions in various global production facilities, with on-the-ground experts active in six countries where our goods are produced. Further, the company publicly lists the names of all...
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Press Releases

2018-09-10 Loblaw cleared of tax-avoidance allegation, and will appeal technical ruling
On September 7, 2018, the Tax Court of Canada issued a ruling for Loblaw Companies Limited (TSX: L) in its decision relating to Glenhuron Bank Limited, a wholly-owned subsidiary of Loblaw that was wound up in 2013.  The Company is providing the following statement in response to the decision. "We are pleased with the court's finding that Loblaw did not take any steps to avoid Canadian tax," said Sarah Davis, President, Loblaw Companies Limited. "This confirms what we have said all along: Glenhuron was established for legitimate business purposes. We are also pleased that the court's decision will result in a reduction of the amount of taxes assessed. We are, however, disappointed with the court's interpretation of a technical provision in the legislation. We strongly disagree and will appeal." Loblaw estimates that if it is unsuccessful in its appeal of the decision, it would be required to pay tax and interest of approximately $368 million.  After deducting amounts already paid, the...
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2018-09-04 Loblaw to spin out its interest in Choice Properties REIT
Today, Loblaw Companies Limited (TSX:L, "Loblaw") and George Weston Limited (TSX:WN, "GWL") announced a reorganization under which Loblaw will spin out its 61.6% interest in Choice Properties Real Estate Investment Trust (TSX:CHP.UN, "Choice Properties"). Under the spin-out, Loblaw common shareholders other than GWL ("Loblaw Minority Shareholders"), will receive 0.135 of a GWL common share per Loblaw share, which is equivalent to the market value of their pro rata interest in Choice Properties, and GWL will receive Loblaw's 61.6% interest in Choice Properties. After the spin-out, Loblaw will not retain any equity interest in Choice Properties and will be a pure-play Canadian food and drug retailer. "The reorganization will result in a more efficient group structure, that strategically benefits both Loblaw and Choice Properties, which in turn strengthens GWL," said Galen G. Weston, Chairman and CEO, Loblaw Companies Limited and George Weston Limited. "Loblaw, Choice Properties and GWL...
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