Loblaw Companies Ltd. recorded a charge of $107 million in the last quarter of 2017 in relation to the $25 card offered to customers affected by the company’s bread price-fixing activities, but declined to discuss the issue with financial analysts on an earnings call Thursday.
The company expects that the $107-million charge for the quarter will be an offset against future civil liability. Loblaw announced in December that it would file a $75- to $150-million charge for the quarter related to the card program.
Analysts were advised at the beginning of the earnings call that Loblaw executives would not comment on the bread price-fixing matter.
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