George Weston Outperforms as Loblaw's Discount Prowess Resonates With Cash-Strapped Consumers

Having completed the sale of its bakery business (Weston Foods) in early 2022, George Weston is left with an established and meaningful presence across Canadian retail (Loblaw) and real estate (Choice Properties). The businesses tout varying degrees of scale and, while we don’t believe any of them boast moatworthy competitive advantages, we see some semblance of a symbiotic relationship among them. Aided by the strategic guidance and financial flexibility of George Weston’s corporate leadership, we see the combined entity continuing to navigate its dynamic marketplaces.