Australia sues grocery giants Woolworths, Coles over illusory discounts

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Australia sues grocery giants Woolworths, Coles over illusory discounts - Business Standard

Quick Summary:

In an April 2024 senate hearing, Woolworths then-CEO Brad Banducci said shoppers would go elsewhere if his company engaged in price gouging.

Albanese on Monday announced draft legislation to impose a mandatory code of conduct for the grocery sector.

The legal action marks a major move against the supermarket giants, which have faced scrutiny from lawmakers and regulators for hitting consumers with high prices at a time when interest rates, housing costs and energy bills have also risen sharply.