Like its Canadian counterparts, Walmart is pushing back against claims that grocers are profiting from the rising cost of food. Gonzalo Gebara, the head of Walmart Canada, told MPs on the House agriculture committee Monday that rising prices were caused by "a perfect storm" of external factors, not price-gouging.
The heads of Canada's biggest grocery chains were in Ottawa this week to defend themselves against accusations that they are gouging consumers amid high inflation. While they insist their profit margins are as thin as they've ever been, their record profits suggest there's more than meets the eye.
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