NewsBite

Nick McKim

August

Brad Banducci has run Woolworths for eight years. He presented his last financial update on Wednesday.

Woolworths loses ground to Coles after tumultuous year

The major retailer recorded a slight fall in underlying profit, which were all but wiped out by a big write-down in its New Zealand business.

  • Updated
  • Carrie LaFrenz
Coles CEO Leah Weckert says shoppers are seeking out deals, buying less meat and spending on frozen and bulk foods.

Coles rewards shareholders as profit and margins jump

The result pushed Coles shares to a two-year-high, as major retailers face more political heat over alleged price gouging.

  • Updated
  • Carrie LaFrenz

July

According to a UBS supermarkets survey of suppliers, trading through April to June favoured Coles over Woolworths, while Aldi gained the most market share.

Supplier survey suggests Coles has outperformed Woolworths all year

Ahead of financial updates from the major supermarkets next month, suppliers say Coles and Aldi are picking up market share over their rivals, small and large.

  • Carrie LaFrenz
Woolworths boss Brad Banducci while sparring with Senator Nick McKim in April.

Woolworths’ trashed reputation will cost Banducci

Woolworths has gone from the 7th most reputable corporate in Australia to the 42nd, on figures that feed into its management scorecard.

  • Myriam Robin

June

Taxation Commissioner Rob Heferen is four months into the job.

‘Deeply offensive’: ATO boss slams robo-debt comparison

New Tax Commissioner Rob Heferen was forceful in his first appearance before Parliament, rejecting criticism of a Tax Office program to chase small debts.

  • Tom McIlroy
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ASIC deputy chair Sarah Court and ASIC chair Joe Longo during a Senate estimates hearing.

ASIC says it is probing three lenders for credit breaches

The admission comes just weeks after the corporate regulator accused lenders of creating “unnecessary barriers” that hindered under-pressure customers.

  • Lucas Baird and James Eyers

May

The report said supermarkets should face prosecution over price gouging.

Calls for power to break up Coles and Woolies split inquiry

The ACCC should get new legal powers to prosecute supermarkets found to be engaging in price gouging, a parliamentary inquiry has recommended.

  • Tom McIlroy and Carrie LaFrenz

April

Greens senator Sarah Hanson-Young is not handing out rain cheques lightly.

Green antics give corporates nightmares

After Nick McKim’s savaging of Brad Banducci, business may be wary of co-operating with Greens-led inquiries. Some, it seems, already are.

  • Updated
  • Myriam Robin
It’s not a metric we focus on, said Brad Banducci. Over and over again.

Nick McKim’s Senate antics make it all worse

This is all entirely on brand for McKim, a man eternally promoting simple, populist solutions to complicated problems.

  • Myriam Robin
Greens senator Nick McKim was looking for a scalp on Tuesday, and outgoing Woolies boss Brad Banducci had nowhere to hide.

After Woolies brawls, Coles busts supermarket profit myths

Political theatre and business bashing won’t deliver a magic bullet for bringing down grocery prices - because there isn’t one.

  • Updated
  • James Thomson
Senator Nick McKim and Brad Banducci in full flight.

Business may well wonder what is going on in Canberra?

It took 15 minutes for The Greens’ Nick McKim to threaten outgoing Woolworths boss Brad Banducci with six months’ prison and $5 million in fines on Tuesday.

  • Tom McIlroy
Brad Banducci during the senate committee hearing on Tuesday.

ASX slumps 1.4pc; Banducci threatened with jail; AFP’s terror warning

Read everything that’s happened in the news so far today.

Greens senator Nick McKim and outgoing Woolworths CEO Brad Banducci.

Woolworths, Greens in fiery clash on profits

Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate, in a fiery Senate hearing that went off the rails on Tuesday.

  • Carrie LaFrenz and Tom McIlroy

March

The supermarket sector is facing a gruelling 12 months.

Supermarket break-up push ‘a wider economic risk’

Frustrated by political interference, business leaders want major parties to rule out a Greens bill this week to bust up Coles and Woolworths.

  • Tom McIlroy
ACTU secretary Sally McManus.

ACTU calls for grocery prices panel, rejects divestiture push

ACTU secretary Sally McManus says the union movement does not believe so-called big stick powers to force retailers to sell off parts of their business should be the priority for government.

  • Tom McIlroy
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David Littleproud is pushing the new powers.

Consumers to lose from push to break up supermarkets

Shoppers would be among the biggest losers from any forced break-up of supermarket giants Coles and Woolworths, business leaders have warned.

  • Tom McIlroy
A surprise lift in inflation will force the Reserve Bank board to consider another interest rate rise as early as next week.

Supermarkets could cause family farms to vanish in 10 years: suppliers

Growers have told a Senate committee into supermarket pricing that the loss of small farmers will eventually threaten Australia’s food security.

  • Tom McIlroy

February

Meet ‘Brad’, the Woolworths CEO whose  flare of temper gave Four Corners its promotional video.

Woolworths chief Brad Banducci’s ominous temper flare

A Four Corners slip has made the Woolies CEO’s upcoming Senate appearance compulsory viewing.

  • Myriam Robin
McNab Orchards have been growing fruit for over 100 years in Ardmona, Victoria

Growers lash out at Coles, Woolworths for ‘predatory’ prices

Fruit Growers Victoria says supermarkets wield so much pricing power that they are forcing growers to sell below the cost of production.

  • Carrie LaFrenz

January

Coles was quick off the mark with price cuts

Coles names new arbiter as Jeff Kennett resigns from post

As renewed scrutiny comes to the grocery sector, Coles has appointed experienced lawyer Jenny Linsten to the role dealing with supplier disputes.

  • Carrie LaFrenz

Original URL: https://www.afr.com/person/nicholas-james-mckim-6ft2