Loblaw cuts its food waste

Article Excerpt

LOBLAW COMPANIES, $66.11, is a buy. Through their shares in the retailer (Toronto symbol L; Shares outstanding: 362.3 million; Market cap: $24.0 billion; TSINetwork Rating: Above Average; Dividend yield: 1.9%; www.loblaw.ca) investors tap 1,088 food stores and 1,343 Shoppers Drug Mart outlets in Canada. The company is expanding its partnership with the makers of the Flashfood mobile app. It lets shoppers buy a variety of perishable and non-perishable foods that are close to their best-before date at discounts of up to 50%. Items available for purchase include meat, produce, bakery, dairy and nonperishable foods. The partnership helps Loblaw clear merchandise that it would otherwise have to throw away. So far, the Flashfood app has surpassed 1 million downloads in Canada. Shoppers can now use it at over 530 of the company’s supermarkets, but Loblaw plans to expand the service to more stores in 2020. Loblaw Cos. is a buy. buy…

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