Metcash chief executive Doug Jones says the second half of fiscal 2023 has started well, with group sales up 6.2 percent. Mr. Jones said shoppers were still supporting neighbourhood stores, which helped the wholesaler distributor hold its ground against larger supermarket rivals. Metcash CEO Doug Jones said sales momentum has continued early in the second half with […]
Metcash earnings climb as shoppers stay local Read More »
Coles, one of the nation’s largest supermarkets, is privately urging suppliers to cut costs rather than request price rises as it deals with a surge in demands to raise the price of products on shelves. In new correspondence with suppliers obtained by The Australian, the company says every business should “turn its mind” to reducing
Coles writes to suppliers asking them to cut costs Read More »
Metcash, a supplier to thousands of independent supermarkets, has warned about rising prices after food inflation in its wholesale business leapt to 5.3 per cent in April and 4.5 per cent in May. Metcash chief executive Doug Jones said about 60 per cent of its food and grocery suppliers had approached it for price increases,
Metcash warns of soaring food and grocery inflation Read More »
Doug Jones, the new chief executive of grocery wholesaler Metcash, says he has a lot of experience in tackling high-inflation environments after 14 years in South African retail with Massmart Wholesale, and the group aims to build on market share gains as more shoppers shift to local neighbourhood outlets in the IGA network. Mr Jones says
Metcash new boss battle-hardened for high inflation times Read More »
More pain at the supermarket checkout looms as a flurry of food and grocery suppliers demand prices hikes, which could trigger a new inflation breakout. Unprecedented levels of food and grocery suppliers are begging the supermarket giants for price increases, which is in turn feeding soaring food inflation at the checkout. As a result, Woolworths
Suppliers flood Woolworths with price hike requests Read More »
Coles is reviewing the way it deals with requests for price rises as inflation forces its food and grocery suppliers to make multiple and urgent requests for cost increases. A major focus of the review is how suppliers will prove to Coles the size and scope of their own cost increases without compromising commercially sensitive
Coles to review price rises with suppliers as inflation runs rampant Read More »
The boss of the Australian Food and Grocery Council has warned there will be more hip-pocket pain at the grocery checkout in coming months. Woolworths has introduced price freezes on 200 pantry staples, which will remain in place until the end of the year, but Australian Food and Grocery Council CEO Tanya Barden says there
Australian Food and Grocery Council boss issues inflation warning Read More »
Soaring prices for key fruit and vegetables that have already put a rocket under grocery prices and the nation’s inflation rate could worsen heading into winter as poor growing conditions marked by heavy rain and low sunlight further strangles supplies of supermarket essentials. And the new pain for household budgets could be around lettuce and
Woolworths warns poor growing conditions may constrict supply Read More »
The supermarket giants Coles and Woolworths’ Shoppers are warned to expect the prices to soar, as the cost of living in Australia climbs even further. The new research has revealed that the cost of products on shelves at supermarkets could increase by a whopping 12 per cent this year Last week, the reserve bank of
Coles and Woolworths to Increase the Cost of Products as Inflation Continues to Soar Read More »
The head of supermarket giant Woolworths has called for an increase in retail workers’ wages to keep up with the rapidly rising rate of inflation across the industry. In a message to shareholders on Tuesday morning announcing the business’ third-quarter trading results, chief executive Brad Banducci said he backed a proposal from the Australian Retailers Association industry
Woolworths boss calls for retail wages to increase amid rising inflation Read More »
Coles and Woolworths could benefit from growing inflation trends which will boost sales as prices for everyday items rise nearly seven per cent this year. Against this backdrop, Jarden head of research Ben Gilbert said supermarkets margins could rise into fiscal 2023 as COVID-19 related costs moderate and as shelf prices lift. “We see scope
Supermarkets to gain on the back of rising inflation Read More »
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