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0 sats \ 3 replies \ @grayruby 15 Sep 2023 \ parent \ on: Why we need Bitcoin: Canada Fed is blaming and threatening Grocers... 🤯😧 bitcoin
Sobeys or parent company empire? Please link data.
Most Canadians colloquially call the conglomerate "Sobeys" which is what I was referring to. Out east they have a chain but across Canada they have other brands. Safeway, thriftys etc.
Financials are public on their website. Shell helped but even still. The company is crushing it lol.
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Yes, I understand but Empire has been restructuring for years and acquiring brands so if I don't know if the numbers you were referring to are comp store sales or inclusive of a brand acquisition.
If I own the local coffee shop and my sales are 1M this year but buy the coffee shop down the street that generates 500k sales I just increased revenue by 50% even if each individual store didn't generate any revenue increase.
So if we aren't talking comp store sales the data is murky and susceptible to false narratives. I am not saying that's the case here but would need to look at the financial reports to determine.
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That's a great point! I always teach my students to scrutinize stats. Yes the specific data is more forgiving. Esp since grocers often dip in and out of gas station business. Which sobeys/empire did for a profit. So the narrative sounds worse that it is.
I have no problem with charging whatever they want mostly.
But there are only a few grocer conglomerates now in Canada. Which sets an intersting stage.
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