Former Australian Competition and Consumer Commission (ACCC) Chairman, Allan Fels has warned that town planning laws are currently a “tragedy for consumers” and suggests that action needs to be taken to ensure preferential treatment is not given to the leading retailers. “The planning laws restrict competition -they protect the big shopping centres,” Professor Fels said. Professor Fels made his comments at an Urban Taskforce luncheon - just a week before the ACCC finalises... ...Read more »
Woolworths, Australia’s largest supermarket operator, has today announced full year sales of $47b, representing a 10.7% increase on last year. Woolworths advised that their food and liquor operations had a 7.9%* sales increase for the year, with inflation for the year of 2.9%. Fourth quarter inflation (2.9%) was seen to drop on the back of a deflation in fruit and vegetable prices, and was markedly lower than the figure of 4.5% registered during the third quarter. Woolworths CEO Michael... ...Read more »
Insight Partners and Citi Investment Research have today released a comprehensive report outlining the impact of unit pricing on retailers, consumers and suppliers in Australia. EBIT (Earnings Before Interest and Tax) are likely to be affected with a drop of about 5% anticipated for retailers and suppliers of packaged goods. The issue of unit pricing has been on the agenda for about a year and has been heavily promoted by consumer advocates CHOICE and Family First Senator Steve Fielding. It was initially... ...Read more »
Wesfarmers, the owner of Coles supermarkets since the $20b purchase of Coles Group last year, has disputed claims that the turnaround of the supermarket giant is taking too long. Wesfarmers CEO, Richard Goyder, suggested that the turnaround will take about five years due to the extent of change required, and insisted they remained well on the way to achieving their goals. “In June 30 this year, we wound up our Coles integration team, which in just over seven months has completed a task, which... ...Read more »
Woolworths are rumoured to be considering an entry into the Indian marketplace, according to a report by Fairfax newspapers. Citi analyst Craig Woolford advised Fairfax that India had always been considered by Woolworths as a possible market for expansion, but the New Zealand market had proven to be more suitable. With increased ACCC focus on the concentrated grocery sector in Australia coupled with the lacklustre demand in New Zealand their focus may, however, shift to India. Australia’s... ...Read more »
The Red Meat Action Group (RMAG) has now added their support to Australian Beef Association (ABA) calls for a Judicial Inquiry into the Australian Beef Industry. The RMAG believe the situation facing beef producers at the moment is of major concern. “The current state of affairs, exacerbated by the gas crisis, facing Western Australian beef producers particularly and as a result the entire industry, clearly demonstrates the need for such action,” they claimed in a statement. “World... ...Read more »
Wal-Mart has announced that they will source more local produce in their endeavour to keep prices down. The announcement comes at a time when America is readying itself for its’ annual Independence Day celebration and is part of Wal-Mart’s strategy to evoke greater connection to their customers on patriotic grounds. Wal-Mart use hundreds of growers across the United States and already are America’s largest purchaser of local produce. In the summer months about one fifth of produce... ...Read more »
The self-service revolution is upon us, as Australian consumers demand greater choice and retailers begin to understand the considerable benefits of the new technology. It is changing the way businesses operate and interact with consumers; with supermarkets, airlines and banks key symbols of the trend. The introduction of ATM’s some 40 years ago can be attributed to the growth of self-service options, but it has only been in the past 5-10 years that self-service technology has really taken... ...Read more »
Name of Product: Home Brand Sultanas Milk Chocolate Package Description & Size: White and red flow wrapped bag, 300g Best Before: 21/05/2009 Australian Distribution: National Reason for Recall: Undeclared allergen - peanut The manufacturer Ernest Hillier Pty Ltd and Woolworths Limited wish to advise that they are conducting a voluntary consumer level recall on the above product due to an important product safety issue. Instead of Milk Chocolate Sultanas some packages contain Chocolate coated... ...Read more »
The Australian Competition and Consumer Commission (ACCC) announced today that it will oppose the proposed acquisition of the Karabar Supabarn supermarket by Woolworths Limited. Woolworths proposed the takeover of the Queanbeyan Karabar Supabarn supermarket on April 7 and the ACCC has since been researching the potential impact on competition. With Woolworths operating a large supermarket in central Queanbeyan, the ACCC was concerned about the effect a takeover would have on competition in the area.... ...Read more »