Loblaw CEO Per Bank says he’s “cautiously optimistic” the company will come to an agreement on the grocery code of conduct, according to a report from the Canadian Press.
“Where it’s going to land, I’m of course not sure, but I’m more optimistic now than before that we can land an agreement on the code,” Per Bank told a conference call discussing Loblaw’s first-quarter earnings Wednesday.
The code, which intends to promote fair practices in the industry, has been delayed due to concerns that it would raise prices for consumers.
Bank told analysts during a Q1 conference call that the company has been working with the committee to create a code that works for all grocers involved.
In an email, Michael Graydon, the chairman of the interim board for the code and CEO of the Food, Health & Consumer Products of Canada association, stated that he agrees with Bank’s confidence and that their conversations with the corporation have been “very productive.”
