09:47 AM EDT, 08/22/2024 (MT Newswires) -- Loblaw ( LBLCF ) on Thursday announced its plans to pilot a new concept, value-based "no name" store in three Ontario markets from September. The store concept will help customers save up to 20% on everyday grocery and household essentials, by lowering operating costs and carrying only a targeted assortment of products.

The no name stores will have shorter operating hours, have no dairy or fresh meat products, but will carry a small range of frozen foods. There will also be fewer weekly deliveries.

"Our goal is simple -- providing food and essential household items across a limited range of national brands and no name brand products at our lowest possible price," said Per Bank, President and CEO, Loblaw ( LBLCF ). "This new test concept allows us to pass on lower prices to our customers - it's a completely different and simplified shopping experience."

Loblaw ( LBLCF ) is up $0.51 to $172.20, on the Toronto Stock Exchange.

Price: 172.40, Change: +0.71, Percent Change: +0.41