George Weston Ltd. is placing its bets on gluten-free baked goods as a way to lure in more customers in a heated Canadian grocery market, amid a second-quarter loss that was impacted by the acquisition of Shoppers Drug Mart by its subsidiary, Loblaws Companies Ltd..
Pavi Binning, the head of the country’s largest food processor and distributor, said the company knows it needs to quickly adapt to changing customer preferences if it wants to succeed.
“Innovation is critical in this business,” he told a call with financial analysts on Tuesday after the release of the company’s latest earnings.
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