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inflation

Inflation

Woolworths’ $907 Million Profits Despite Rising Grocery Prices and Inflation

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Woolworths, one of Australia’s largest supermarket chains, has announced profits of $907 million in its half-yearly results. This comes amid rising inflation and a significant increase in grocery prices for customers. Woolworths CEO Brad Banducci attributed the positive results to improving the customer shopping experience, restoring operating rhythm, and a reduction in COVID costs compared […]

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Woolworths

Woolworths customers trade in to affordable luxury amid inflation

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Woolworths CEO Brad Banducci has recently reported that the company’s December half results represent a return to something approaching normality after three years of pandemic-related profit fluctuations. However, customers are once again choosing to eat at home, which was a popular trend during the pandemic. Banducci refers to this trend as “trading in,” where customers

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coles

Coles will continue price freeze amid cost of living chaos

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Coles has extended a popular policy aimed at helping customers reduce pain at the checkout as inflation soars. Coles is extending its price freeze program, in a win for Aussie shoppers staring down the barrel of soaring inflation and interest rate hikes. The supermarket, along with its main rival Woolworths both implemented price freezes on

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metcash

Metcash earnings climb as shoppers stay local

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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

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Metcash

Metcash new boss battle-hardened for high inflation times

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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

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price hike

Suppliers flood Woolworths with price hike requests

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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

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price

Coles to review price rises with suppliers as inflation runs rampant

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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

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Australian Food and Grocery Council

Australian Food and Grocery Council boss issues inflation warning

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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

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supply

Woolworths warns poor growing conditions may constrict supply

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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

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Inflation

Coles and Woolworths to Increase the Cost of Products as Inflation Continues to Soar

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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

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wages

Woolworths boss calls for retail wages to increase amid rising inflation

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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 »

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