Purple patch continues for supermarket giants
The purple patch for the $115 billion supermarket sector looks set to continue until at least the end of the year, as lockdowns boost at-home consumption and food and grocery prices start to rise.
Analysts had originally expected sales and earnings for retailers Woolworths and Coles and wholesaler Metcash to come under pressure in 2022, following bumper results in fiscal 2021, as consumers started venturing out to restaurants and cafes and as food price inflation eased after a spike at the height of the pandemic.
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