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Woolworths

ACCC

ACCC Sues Woolworths and Coles for Misleading Discount Pricing

News /

The ACCC has launched legal action in the Federal Court against Woolworths Group Limited (Woolworths) and Coles Supermarkets Australia Pty Ltd (Coles) for allegedly misleading consumers through deceptive discount pricing on hundreds of everyday products.  The Australian Competition and Consumer Commission (ACCC) claims that Woolworths and Coles inflated the prices of certain items for brief […]

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woolworths

Woolworths Net Profit Plunges 93%

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Woolworths, Australia’s largest retailer, is rewarding its shareholders with a special dividend of 40 cents per share despite experiencing a significant 93% drop in annual net profit. This decline is largely due to substantial impairments related to its stake in Endeavour, a drinks group, and its underperforming New Zealand supermarkets. Once again, Woolworths’ Australian supermarkets

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Woolworths Introduces Priority Parking for Electric Vehicles

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Woolworths is introducing a customer-centric initiative in New Zealand, offering priority parking for select customers based on the eco-friendliness of their vehicles. This new initiative is a boon for shoppers with low-emission vehicles, such as electric and hybrid cars, as it allows them to park closer to the store, saving time and effort. Woolworths is

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price-gouging

Trust in Coles and Woolworths Plummets Amid Price-Gouging Allegations

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Australians’ trust in Coles and Woolworths has plummeted, according to Roy Morgan’s latest quarterly rankings. Woolworths, which had been the top trusted brand since May 2020, has dropped to the 34th position, following accusations of price-gouging alongside rival Coles. Coles has suffered even more, plummeting a record-breaking 221 places to become the ninth least trusted

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Woolworths ACCC

Woolworths Urges ACCC Supermarket Inquiry To Focus On Retail Industry Facts

News /

Woolworths has urged the competition regulator to undertake a “data-driven, fact-based” investigation into the supermarket industry. This call comes amid a political uproar filled with accusations of price gouging, abuse of market power, and even threats of jail for the Woolworths CEO during a Senate inquiry led by the Greens. In its submission to the

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woolworths

Woolworths CEO Defends Food Rejection Policies

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Woolworths CEO Brad Banducci has robustly defended the supermarket chain’s food rejection policies. He underscored that customers’ specific preferences, such as their aversion to oversized bananas, are the driving force behind these policies. This defence was articulated during a South Australian parliamentary inquiry into grocery prices, part of a series of investigations taking place across

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Brad Banducci

Woolworths CEO Brad Banducci appears at South Australian grocery price inquiry

News /

According to CEO Brad Banducci, Woolworths, a leading supermarket giant, is prepared to accept lower profits if it means delivering significant value to its customers. During a session with the South Australian legislative council investigating grocery prices, Banducci defended Woolworths’ $1.62 billion profit in 2023. He emphasised that the company would prioritise customer benefits over

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Queensland

Rural Queensland Supermarkets Threatened by Major Chains

News /

Independent supermarkets in Queensland are facing severe challenges due to the dominant market presence of major retailers Woolworths and Coles, an inquiry has heard. Wayne Mason, the Queensland operations manager for Australian United Retailers, which represents 103 independent FoodWorks supermarkets in the region, raised concerns about the impact of these large supermarkets on smaller, community-based

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Brad Banducci

The Senate Supermarket Inquiry has Presented 14 Recommendations

News /

Woolworths’ CEO Brad Banducci recently came under fire during a tense Senate inquiry session, but despite the heated discussions, he will not face any legal repercussions or jail time. This decision comes amidst a broader push by a Greens-led Senate committee, which has strongly critiqued the dominance of major supermarket chains like Woolworths and Coles

The Senate Supermarket Inquiry has Presented 14 Recommendations Read More »

Brad Banducci

Departing CEO Brad Banducci concedes that Woolworths was “out-traded” by Coles

News /

Woolworths CEO Brad Banducci recently acknowledged that competitor Coles had outperformed his company during the last quarter. Woolworths faced challenges like unpopular promotions, supply chain disruptions, and cautious consumer spending habits, leading to lower-than-expected sales. This widened the gap between Woolworths and Coles and missed analysts’ predictions. Banducci, who will soon step down, leaves behind

Departing CEO Brad Banducci concedes that Woolworths was “out-traded” by Coles Read More »

woolworths

Woolworths Faces Margin Pressure in Battle Against Coles

News /

Woolworths faces a potential squeeze on its profit margins as it takes action to compete with its smaller rival, Coles. Coles has recently been outpacing Woolworths in terms of sales and market share growth, marking a shift in the competitive landscape. Despite this, Coles still trails behind Woolworths regarding food division profits. Analysts have noted

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