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Agriculture committee  As you know, I can't disclose the specific numbers. I will echo what everybody has been saying: Grocery margins are very low margins. We can access public information from all the retailers around the world, and you will see what slim margins we have in this industry.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  I think it's very important for us to highlight that the buy now, pay later program is for durable goods. We are not tailoring that program for our customers to buy essentials. As a matter of fact, we're even working on new technology to prevent that from happening. We want our customers to be able to have better access by financing and softening the out-of-pocket impact so that they can buy durable goods.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  Yes. It's durable products. We call them general merchandise products, non-food products.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  I trust that as an industry we will come up with a solution.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  We have the price per unit, price per litre and price per hundred ounces. All of that is displayed in our pricing.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  As I've said many times since March, I've learned that in Canada, we have fairness, transparency, arm's-length negotiations, very robust planning capabilities and clarity in the communication cycle. I have been meeting with several suppliers over these months. I don't think Canada is in a different situation from what I've seen in other markets.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  Remember that we are fanatical about everyday low prices. We like to keep prices low across the board in a consistent way. There's an interesting point in what you're saying. Our data says that if the average basket takes, let's say, three units of yogourt, then it would be perfectly fine to promote three units at a price.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  What do you mean by harmonizing unit prices?

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  No. Again, sometimes people talk about margins in different ways. Can you help me and be a little bit more specific on what you mean when you say “margins”?

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  Yes, provided that the information is not confidential, I think we will be in a position to do that. I will have to check, of course.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  It's a combination of things that puts us in a position to think that it's an unlevel playing field and that there's lots of bureaucracy that will create costs. No one wants unnecessary costs into the business.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  Indeed, we have more than 400 stores across all of Canada. We have our fleet transporting products from coast to coast to coast. I don't have the number on the tax. I will have to come back to you on that one.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  If I'm not mistaken, I think you're referring to our buy now, pay later program, which is tailored. The objective of this program is for our customers to have better access to durable goods. In no way would we like anyone to be in a position to finance their very highly needed essentials that they will consume in a couple of days and bear the burden of the financial costs for several months.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  Yes, I think it's very important that I make a clarification again. I think it has to do with a moment ago. I think competition is great, not giving more power to any competition regulator. Competition is great for everyone, for everyone participating in the industry and for consumers, which is not to say that giving more power to any competition regulator is what I would support.

December 7th, 2023Committee meeting

Gonzalo Gebara

Agriculture committee  I think we are participating in the best way we can participate, and doing it through the RCC is the way we think is best.

December 7th, 2023Committee meeting

Gonzalo Gebara