The CEO of Metro a large grocery chain has recently stated the results of Ontario’s new $15 an hour minimum wage on their bottom line. A 50 million dollar increase in yearly expenses.
In revealing its quarterly results, the chain said it would be exerting ” strong control” over its expenses in the coming year, citing wage increases as a major factor in its outlook.
“The announced minimum wage increase in Ontario will put significant pressure on our industry in 2018,” Eric R. La Fleche said
The comments continue a trend among retailers over the fears of new costs putting many out of business.
Metro rival Loblaw said last month that it expects rising wage pressures will cost it $190 million next year.