Consumers are losing trust in Loblaw after the company admitted to intentionally raising bread prices over a 14-year period, according to a new survey by Dalhousie University's Faculty of Management.

The survey, conducted from November to March, reveals overall trust in Loblaw dropped 10 per cent in that period. At the same time, trust in rival Sobeys inched higher with a 1.4 per cent increase. Respondents aged 36 and over, however, still favoured Loblaw over Sobeys.

Costco came out on top as the most trusted food retailer, while respondents said the chain they trust the least is Walmart.

Loblaw began offering customers $25 gift cards in January after fessing up in December to an industry-wide bread price-fixing scheme between late 2001 and March 2015, along with distributor George Weston Limited.

But Loblaw faced backlash for requiring some customers to show personal identification to secure the gift cards.  

The companies were granted immunity from prosecution by the Competition Bureau for coming forward and cooperating. Loblaw and George Weston have faced backlash from rivals Metro and Sobeys, whose CEO – Michael Medline – has called on Loblaw chairman and CEO Galen G. Weston to retract statements implicating the chain in the scandal.