Outgoing Woolworths chief executive Brad Banducci says cost-of-living pressures have hit the supermarket giant.
This week’s results provide a reality check for those who argue that the highly concentrated banking and supermarkets sectors lack competition.
The Senate inquiry into supermarket prices was supposed to have wrapped up this week,but it is now gearing up to potentially put the likes of Nestlé and Coca-Cola through their paces.
An unusual deal by grocery giant Woolworths to build a supermarket and a local library in exchange for a piece of public land has raised eyebrows in Rosanna.
The supermarket giant’s outgoing CEO refused to answer repeated questions about the company’s return on equity,which infuriated Greens senator Nick McKim.
The sparring between Greens senator Nick McKim and Woolies boss Brad Banducci deteriorated into an unedifying headbutting contest.
Australian retailers have turned their sights on global suppliers such as Nestle,Mars,Coca-Cola and Mars,which they say are driving up prices.
Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
The boss of Metcash Food calls for even stronger merger laws,while Aldi Australia’s boss explains why it has no stores in Tasmania.
Woolworths and Greenlife Industry Australia have formed an unlikely alliance against the hardware giant,whose managing director says the industry code of conduct is for grocery retailers.
While Woolworths and Coles point the finger at the behaviour of other big retailers,it’s a brain twister as to how giving suppliers more help will benefit customers at the checkout.