Supermarkets aren’t price-gouging, but try telling that to politicians
In the phoney-war pre-election campaign we are now in, politicians are likely to focus on the gross profits of Woolies and Coles to claim they are price-gouging during a cost-of-living crisis.
Supermarket pricing and profits are set to become a political football again on the eve of the 2025 federal election campaign following the first-half results of both Woolworths and Coles, and the imminent release of the federal government’s supermarket inquiry.
In the phoney-war pre-election campaign we are now in, the politicians will no doubt focus on the gross profit numbers, which appear enormous to most people – Woolworths supermarkets earned $1.4 billion in EBIT and Coles supermarkets $1.1 billion in EBIT in the first half.
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Robert Hadler is an independent consultant and director. He is former General Manager Corporate Affairs at Coles.
