Tag: supermarkets

  • Greens float state-owned supermarkets for cheaper food | Max Chandler-Mather pitches Mamdani-styl…

    Greens float state-owned supermarkets for cheaper food | Max Chandler-Mather pitches Mamdani-styl…

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    Greens float state-owned supermarkets for cheaper food

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    A government-owned supermarket chain would sell groceries more than 20 per cent cheaper on average, under a plan hatched by a minor party. 

    The idea for the federal government to buy up 200 Coles and Woolworths stores and open more than 400 extra shop-fronts has been floated by a Greens-affiliated think tank and given the nod by the party's freshly minted leader. 

    Max Chandler-Mather pitches Mamdani-style $25bn plan to nationalise 200 Coles and Woolworths supermarkets

    Former MP and Green Institute head says proposal for publicly owned supermarket chain will ease grocery prices

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    More than 200 Coles and Woolworths supermarkets would be nationalised, and hundreds of government grocery stores opened, under a $25bn plan being put forward by former Greens MP Max Chandler-Mather.

    Channelling New York mayor Zohran Mamdani’s plan for publicly owned grocery stores, Chandler-Mather, the head of the party’s thinktank, the Green Institute, wants to use new forced divestiture laws to take over major supermarket sites and three distribution centres.

    The Green Institute – the research arm of the party – was established to drive policy ideas, train volunteers and build its movement.

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    The ‘completely ridiculous’ idea that would slash grocery bills by 30 per cent

    The Albanese government has been urged to forcibly acquire hundreds of Coles and Woolworths supermarkets to bring down rising grocery prices, which have forced more than one-third of surveyed Australians to skip meals. 

    A YouGov survey released on Tuesday found 94 per cent of respondents were concerned about the cost of groceries, including 61 per cent who were “very concerned”. 

    A YouGov survey found 94 per cent of respondents were concerned about the cost of groceries. Jo Abi

    Of the 1500 voters surveyed online, 79 per cent said it was harder to afford their supermarket bill compared to 12 months ago. 

    Recent analysis from consumer advocacy group Choice showed grocery prices had increased at all four of Australia’s major supermarket chains (Coles, Woolworths, Aldi and IGA), jumping 7 per cent between May and June this year. 

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  • Supermarkets furious at one word in new law | Coles Surges as ASX Dips, Corporate Concerns Emerge…

    Supermarkets furious at one word in new law | Coles Surges as ASX Dips, Corporate Concerns Emerge…

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    Coles Surges as ASX Dips, Corporate Concerns Emerge

    The Australian share market is tracking towards a weekly loss, with the ASX coming under pressure near noon (AEST) as miners and banks weigh down performance. Gold miner Regis notably fell following a disappointing guidance update. Conversely, major retailer Coles Group, one of Australia’s largest supermarket and retail giants, experienced a significant surge in its share price today after exiting a substantial $4 billion deal. In other market news, buy-now-pay-later firm Zip announced its intention to exit the New Zealand market.

    Corporate governance and culture are also in focus, with employees of Macquarie Capital, the investment banking arm of Macquarie Group, reportedly writing to the board. Their complaints detail “unacceptable conduct” by managers within the high-profile division, highlighting internal concerns. Separately, a KPMG partner, Kim Lawry, has departed the firm after being removed from the Westpac audit. This follows a previous fine of $19,000 against Ms Lawry for viewing confidential Lendlease board papers prior to KPMG’s pitch for the Westpac audit file.

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    Woolworths stock holds ground as investors weigh latest sales trends and margin pressures

    Woolworths stock reflects a balance between resilient Australian food sales and ongoing margin and cost challenges, with investors watching how management executes on its strategic priorities after the latest full-year numbers and trading updates.

    Woolworths Group Ltd (ISIN AU000000WOW2) remains a key name on the Australian market, with Woolworths stock reflecting a mix of steady supermarket demand and evolving cost and competitive pressures. The group last reported full-year results for the 52 weeks to 30 June 2023, providing investors with a detailed look at sales growth, margins, and capital allocation decisions that continue to frame expectations in 2024.

    According to the companys full-year 2023 results release for the 52 weeks to 30 June 2023, Woolworths Group reported total group sales of approximately AUD 64.29 billion, up from about AUD 60.85 billion in the prior financial year, implying growth of roughly AUD 3.44 billion or around 5.7% year on year. This expansion was driven primarily by continued demand in the Australian Food segment and contributions from other retail banners, despite a more cautious consumer environment and rising cost of living pressures across Australia.

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  • Soft plastics bins to return to supermarkets almost four years after REDcycle collapse | Soft pla…

    Soft plastics bins to return to supermarkets almost four years after REDcycle collapse | Soft pla…

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    Soft plastic bins to return to supermarkets

    Consumers will be able to recycle their soft plastics at major supermarkets with a new national scheme back in place.

    Supermarket brings back soft plastics collection points

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    Soft plastics recycling collection points are returning to Woolworths stores more than three years after the Australia-wide REDcycle supermarket scheme collapsed.

    Woolworths says more than 700 of its stores across five states will accept chip packets, lolly wrappers and similar packaging.

    "With this initiative, we have made it easier for Aussie families to recycle their soft plastics as part of their weekly shop," Woolworths says.

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