Chanticleer
What a $9.50 block of cheese says about Coles’ big squeeze
The supermarket giant is using hefty discounts to woo increasingly disloyal customers. It’s just one element squeezing the company’s profits.
The release of Coles Group’s September quarter sales numbers shows why chief executive Leah Weckert is in the middle of one of the toughest juggling acts in corporate Australia.
Nothing illustrates that better than a one-kilogram block of home brand cheese, which Coles has discounted from $13.90 to $9.50.
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