Loblaw Cos. Ltd. took a non-cash charge of $129 million in Q4 as consumers redeemed their PC Optimum points with alacrity. “We increased this liability based on our expectation that more customers will redeem more of their … points going forward,” CFO Richard said on an earnings call.
“What it reflects is that more and more consumers are liking PC Optimum, are using it, and so from our perspective … we’re more than happy to do it because it reflects what’s happening in our stores.”
