Latest news with #SurenTheivakadacham
Yahoo
4 days ago
- Business
- Yahoo
Loblaw pulls Folgers coffee from shelves over 'unjustified' cost increases
Shoppers at Loblaw Cos. Ltd.'s stores will soon no longer be able to get a coffee fix by purchasing Folgers-brand products after a pricing dispute prompted the grocer to pull them from its shelves. In an email sent to retailers on Wednesday, Loblaw said it decided to delist all Folgers products after talks with the coffee maker's manufacturer couldn't solve the impasse. "After several weeks of negotiations, we were unable to reach an agreement with the manufacturers of Folgers coffee regarding their significant and unjustified proposed price increases," said the email signed by Loblaw category director Suren Theivakadacham and obtained by The Canadian Press. "We are doing this because we are on the side of customers, and doing what we can to keep prices low ... This decision to delist Folgers coffee reflects our commitment to providing value for customers by not accepting unreasonable cost increases that would hurt Canadians." The email contained an attached list of alternative coffee products the grocer offers as stores prepare to update their shelves. The move comes as coffee prices continue to rise in Canada. Last month, Statistics Canada reported the price of coffee and tea was up 13.4 per cent in April on a year-over-year basis — outpacing both the 3.8 per cent increase in the cost of groceries that month, as well as Canada's overall inflation rate of 1.7 per cent. Experts say higher coffee prices are in part due to recent extreme weather and changes in temperature, which have caused some producers to experience lower yields. Other pressures include a weak Canadian dollar, making it more expensive to import coffee to Canada from other countries, along with the fact coffee is one of the products still subject to Canada's retaliatory tariffs against the U.S. While the U.S. isn't a major producer of coffee, Canadian distributors often purchase it from American brokers. Folgers products are made by the Orrville, Ohio-based J.M. Smucker Co., which raised prices of its coffee offerings both last June and October in response to higher costs it is facing. President and CEO Mark Smucker told analysts on the company's quarterly earnings call in February that more coffee price increases were likely on the way. He said pricing decisions are dictated by costs it faces. "Although we haven't laid out when other pricing is going to happen, we do expect it's going to happen in the next fiscal year, probably in the first half," Smucker said at the time. In a statement, the company said it has been experiencing "record high and sustained" prices of unroasted coffee beans. "Our pricing actions have been managed prudently and responsibly and have only been taken when justified by costs," said Smucker's spokesman Frank Cirillo in an email on Thursday. "We remain dedicated to working with all our retail partners to manage increased input costs while delivering value to our shared consumers." But Loblaw spokeswoman Catherine Thomas said Folgers' proposed cost increases were "unreasonable and unjustified based on underlying costs" and that the grocer felt it was important to push back as many Canadians continue to struggle with unaffordability. "Despite several attempts to address this with the manufacturer, we were not successful," Thomas said in a statement. "We will not accept or pass unjustified cost increases on to customers and therefore we have removed Folgers from our shelves ... We recognize this may create some inconvenience for customers and for that we apologize but again, we will do what is right to help address price increases." Thomas added Loblaw expects most of its stores to be out of stock of Folgers products over the next week or two. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:L) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Loblaw pulls Folgers coffee from shelves over 'unjustified' cost increases
Shoppers at Loblaw Cos. Ltd.'s stores will soon no longer be able to get a coffee fix by purchasing Folgers-brand products after a pricing dispute prompted the grocer to pull them from its shelves. In an email sent to retailers on Wednesday, Loblaw said it decided to delist all Folgers products after talks with the coffee maker's manufacturer couldn't solve the impasse. "After several weeks of negotiations, we were unable to reach an agreement with the manufacturers of Folgers coffee regarding their significant and unjustified proposed price increases," said the email signed by Loblaw category director Suren Theivakadacham and obtained by The Canadian Press. "We are doing this because we are on the side of customers, and doing what we can to keep prices low ... This decision to delist Folgers coffee reflects our commitment to providing value for customers by not accepting unreasonable cost increases that would hurt Canadians." The email contained an attached list of alternative coffee products the grocer offers as stores prepare to update their shelves. The move comes as coffee prices continue to rise in Canada. Last month, Statistics Canada reported the price of coffee and tea was up 13.4 per cent in April on a year-over-year basis — outpacing both the 3.8 per cent increase in the cost of groceries that month, as well as Canada's overall inflation rate of 1.7 per cent. Experts say higher coffee prices are in part due to recent extreme weather and changes in temperature, which have caused some producers to experience lower yields. Other pressures include a weak Canadian dollar, making it more expensive to import coffee to Canada from other countries, along with the fact coffee is one of the products still subject to Canada's retaliatory tariffs against the U.S. While the U.S. isn't a major producer of coffee, Canadian distributors often purchase it from American brokers. Folgers products are made by the Orrville, Ohio-based J.M. Smucker Co., which raised prices of its coffee offerings both last June and October in response to higher costs it is facing. President and CEO Mark Smucker told analysts on the company's quarterly earnings call in February that more coffee price increases were likely on the way. He said pricing decisions are dictated by costs it faces. "Although we haven't laid out when other pricing is going to happen, we do expect it's going to happen in the next fiscal year, probably in the first half," Smucker said at the time. In a statement, the company said it has been experiencing "record high and sustained" prices of unroasted coffee beans. "Our pricing actions have been managed prudently and responsibly and have only been taken when justified by costs," said Smucker's spokesman Frank Cirillo in an email on Thursday. "We remain dedicated to working with all our retail partners to manage increased input costs while delivering value to our shared consumers." But Loblaw spokeswoman Catherine Thomas said Folgers' proposed cost increases were "unreasonable and unjustified based on underlying costs" and that the grocer felt it was important to push back as many Canadians continue to struggle with unaffordability. "Despite several attempts to address this with the manufacturer, we were not successful," Thomas said in a statement. "We will not accept or pass unjustified cost increases on to customers and therefore we have removed Folgers from our shelves ... We recognize this may create some inconvenience for customers and for that we apologize but again, we will do what is right to help address price increases." Thomas added Loblaw expects most of its stores to be out of stock of Folgers products over the next week or two. This report by The Canadian Press was first published June 5, 2025. Companies in this story: (TSX:L) Sammy Hudes, The Canadian Press Sign in to access your portfolio
Time of India
4 days ago
- Business
- Time of India
Loblaw vs JM Smucker face off over Folgers coffee price; weather, Trump tariffs also play a role
Canada's largest grocery retailer, Loblaw Companies Ltd., has removed all Folgers coffee products from its stores following a pricing disagreement with the manufacturer, J.M. Smucker Co. The grocery giant said the proposed cost increases were 'unreasonable and unjustified based on underlying costs.' In an internal email to retailers, Loblaw explained that talks with Folgers' manufacturer failed to produce an agreement. 'After several weeks of negotiations, we were unable to reach an agreement with the manufacturers of Folgers coffee regarding their significant and unjustified proposed price increases,' wrote Suren Theivakadacham, Loblaw's category director. The company emphasized that it is acting in the interest of consumers struggling with affordability. Loblaw spokesperson Catherine Thomas stated the decision was not taken lightly but was necessary to keep prices in check. 'We will not accept or pass unjustified cost increases on to customers, and therefore we have removed Folgers from our shelves,' she said. 'We recognize this may create some inconvenience for customers and for that we apologize, but again, we will do what is right to help address price increases.' Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Honor a Forgotten Father Today HelpAge India Donate Now Undo The company has also circulated a list of alternative coffee products to its stores as shelves are being updated. Thomas added that most stores are expected to be out of stock of Folgers items within the next week or two. This move comes amid rising coffee prices across Canada. In April, Statistics Canada reported a 13.4 per cent year-over-year increase in the price of coffee and tea, well above the 3.8 per cent rise in overall grocery costs and the national inflation rate of 1.7 per cent. Live Events Experts attribute the rising costs to a combination of factors, including extreme weather conditions that have reduced crop yields. Coffee is also affected by a weaker Canadian dollar and ongoing retaliatory tariffs on certain US imports, even though the US isn't a major coffee producer. Folgers products are manufactured by Ohio-based J.M. Smucker Co., which has implemented price hikes in the past year due to escalating costs. Company CEO Mark Smucker said in a February earnings call that more increases were expected in the near future. 'Our pricing actions have been managed prudently and responsibly and have only been taken when justified by costs,' company spokesperson Frank Cirillo said.
Global News
4 days ago
- Business
- Global News
Loblaw removes Folgers coffee from stores over ‘unjustified' price hikes
Shoppers at Loblaw Cos. Ltd.'s stores will soon no longer be able to get a coffee fix by purchasing Folgers-brand products after a pricing dispute prompted the grocer to pull them from its shelves. In an email sent to retailers on Wednesday, Loblaw said it decided to delist all Folgers products after talks with the coffee maker's manufacturer couldn't solve the impasse. 'After several weeks of negotiations, we were unable to reach an agreement with the manufacturers of Folgers coffee regarding their significant and unjustified proposed price increases,' said the email signed by Loblaw category director Suren Theivakadacham and obtained by The Canadian Press. 'We are doing this because we are on the side of customers, and doing what we can to keep prices low … This decision to delist Folgers coffee reflects our commitment to providing value for customers by not accepting unreasonable cost increases that would hurt Canadians.' Story continues below advertisement The email contained an attached list of alternative coffee products the grocer offers as stores prepare to update their shelves. The move comes as coffee prices continue to rise in Canada. Last month, Statistics Canada reported the price of coffee and tea was up 13.4 per cent in April on a year-over-year basis — outpacing both the 3.8 per cent increase in the cost of groceries that month, as well as Canada's overall inflation rate of 1.7 per cent. 4:22 Grocery prices set to rise Experts say higher coffee prices are in part due to recent extreme weather and changes in temperature, which have caused some producers to experience lower yields. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Other pressures include a weak Canadian dollar, making it more expensive to import coffee to Canada from other countries, along with the fact coffee is one of the products still subject to Canada's retaliatory tariffs against the U.S. Story continues below advertisement While the U.S. isn't a major producer of coffee, Canadian distributors often purchase it from American brokers. Folgers products are made by the Orrville, Ohio-based J.M. Smucker Co., which raised prices of its coffee offerings both last June and October in response to higher costs it is facing. President and CEO Mark Smucker told analysts on the company's quarterly earnings call in February that more coffee price increases were likely on the way. He said pricing decisions are dictated by costs it faces. 'Although we haven't laid out when other pricing is going to happen, we do expect it's going to happen in the next fiscal year, probably in the first half,' Smucker said at the time. The company did not respond to a request for comment on Thursday. Loblaw spokeswoman Catherine Thomas said Folgers' proposed cost increases were 'unreasonable and unjustified based on underlying costs' and that the grocer felt it was important to push back as many Canadians continue to struggle with unaffordability. 'Despite several attempts to address this with the manufacturer, we were not successful,' Thomas said in a statement. 'We will not accept or pass unjustified cost increases on to customers and therefore we have removed Folgers from our shelves … We recognize this may create some inconvenience for customers and for that we apologize but again, we will do what is right to help address price increases.' Story continues below advertisement Thomas added Loblaw expects most of its stores to be out of stock of Folgers products over the next week or two.
CTV News
4 days ago
- Business
- CTV News
Loblaw pulls Folgers coffee from shelves over ‘unjustified' cost increases
Containers of Folgers instant coffee are seen on a supermarket shelf in Norwood, Mass., June 4, 2008. (AP Photo/Steven Senne) Shoppers at Loblaw Cos. Ltd.'s stores will soon no longer be able to get a coffee fix by purchasing Folgers-brand products after a pricing dispute prompted the grocer to pull them from its shelves. In an email sent to retailers on Wednesday, Loblaw said it decided to delist all Folgers products after talks with the coffee maker's manufacturer couldn't solve the impasse. 'After several weeks of negotiations, we were unable to reach an agreement with the manufacturers of Folgers coffee regarding their significant and unjustified proposed price increases,' said the email signed by Loblaw category director Suren Theivakadacham and obtained by The Canadian Press. 'We are doing this because we are on the side of customers, and doing what we can to keep prices low ... This decision to delist Folgers coffee reflects our commitment to providing value for customers by not accepting unreasonable cost increases that would hurt Canadians.' The email contained an attached list of alternative coffee products the grocer offers as stores prepare to update their shelves. The move comes as coffee prices continue to rise in Canada. Last month, Statistics Canada reported the price of coffee and tea was up 13.4 per cent in April on a year-over-year basis — outpacing both the 3.8 per cent increase in the cost of groceries that month, as well as Canada's overall inflation rate of 1.7 per cent. Experts say higher coffee prices are in part due to recent extreme weather and changes in temperature, which have caused some producers to experience lower yields. Other pressures include a weak Canadian dollar, making it more expensive to import coffee to Canada from other countries, along with the fact coffee is one of the products still subject to Canada's retaliatory tariffs against the U.S. While the U.S. isn't a major producer of coffee, Canadian distributors often purchase it from American brokers. Folgers products are made by the Orrville, Ohio-based J.M. Smucker Co., which raised prices of its coffee offerings both last June and October in response to higher costs it is facing. President and CEO Mark Smucker told analysts on the company's quarterly earnings call in February that more coffee price increases were likely on the way. He said pricing decisions are dictated by costs it faces. 'Although we haven't laid out when other pricing is going to happen, we do expect it's going to happen in the next fiscal year, probably in the first half,' Smucker said at the time. The company did not respond to a request for comment on Thursday. Loblaw spokeswoman Catherine Thomas said Folgers' proposed cost increases were 'unreasonable and unjustified based on underlying costs' and that the grocer felt it was important to push back as many Canadians continue to struggle with unaffordability. 'Despite several attempts to address this with the manufacturer, we were not successful,' Thomas said in a statement. 'We will not accept or pass unjustified cost increases on to customers and therefore we have removed Folgers from our shelves ... We recognize this may create some inconvenience for customers and for that we apologize but again, we will do what is right to help address price increases.' Thomas added Loblaw expects most of its stores to be out of stock of Folgers products over the next week or two. This report by The Canadian Press was first published June 5, 2025. Sammy Hudes, The Canadian Press
