Loblaw says smallest salary increases will cost it an additional $190M subsequent year

Loblaw Companies Ltd. says smallest salary increases in Ontario and Alberta and health caring remodel in Quebec are approaching to harm a bottom line.

The grocery and drug store user says a smallest salary increases announced in Ontario and Alberta are approaching to boost a work losses by about $190 million in 2018.

Loblaw also says changes in Quebec are approaching to have a some-more poignant incremental impact in 2018 than in before years.

The association done a comments as it reported a second-quarter distinction attributable to shareholders of $358 million or 89 cents per diluted share. That compared with a distinction of $158 million or 39 cents per diluted share a year ago.

Revenue for a entertain finished Jun 17 amounted to scarcely $11.08 billion, adult from $10.73 billion in a same entertain final year.

In further to a grocery business, Loblaw owns a Shoppers Drug Mart chain, as good as a Joe Fresh wardrobe business, PC Financial personal banking and a interest in a Choice Properties genuine estate investment trust.

Article source: http://www.cbc.ca/news/business/minimum-wage-hikes-to-cost-loblaw-an-extra-190m-next-year-1.4222053?cmp=rss