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The Latest Breaking News from Metcash

IGA supplier losing tobacco sales to black market

IGA supplier Metcash has delivered a $142.2 million first-half net profit, up 0.3 per cent from a year ago, and reported tobacco sales dropped by 35 per cent.

AAP

Lambie labels Trump a ‘bloody sociopath’ – as it happened

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The Guardian - AU

Profit boost despite sluggish hardware, tobacco sales

Retail conditions continue to be tough, but there are some signs of improvement, according to the owner of IGA, Total Tools and Mitre 10.

AAP

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Supermarkets Coles & Woolworths Have ‘Limited Incentive’ To Compete On Price, ACCC Finds

“We don't want the supermarkets to be treating Australians like mugs.”

Pedestrian.tv

Coles, Woolies guilty of increasing margins: watchdog

Treasurer Jim Chalmers promised a crackdown on major supermarkets following a consumer watchdog report, but warned breaking them up would be counterproductive.

AAP

As Coles slashes its product range, will well-known brands disappear from supermarket shelves?

Coles is reducing its product range by at least 10%, a move that has sparked public backlash and renewed discussions about the role of supermarkets in the cost-of-living crisis.

The Conversation

Coles denies suppliers pay price for evading promotions

Representatives from major supermarkets and suppliers have appeared before an inquiry as the consumer watchdog prepares to report on the sector.

AAP

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Coles denies unhappy suppliers cop 'holiday' check outs

Supermarket giant Coles rejects punishing fresh produce suppliers who disagree on pricing, as the company is grilled at an inquiry into the sector.

AAP

Developer malaise means Woolies is behind more malls

Woolworths has cast itself as being in competition with cake shops and newsagents, while also showing the might of its construction arm.

AAP

Discount class action fresh headache for grocery giants

Australia's two major supermarket chains say they will defend against class action lawsuits brought over allegations of misleading promotional price practices.

AAP

Coles and Woolworths buy big independents to help protect dominance, IGA says

Major supermarkets’ takeover strategy prevents smaller grocers from growing into stronger competitors, inquiry hears

The Guardian - AU

IGA talks shop over cheaper prices at supermarket probe

Bosses of the company supplying independent grocers say prices are consistently coming down, benefiting customers and their stores.

AAP

Expert rejects supermarket land banking concerns

A retail expert says it's "not unreasonable" for supermarkets to spend years developing sites for stores, as the government moves to crack down on land banking.

AAP

More challenging market in months ahead, Metcash warns

Challenging conditions will remain ahead of Christmas as consumers tighten their belts, IGA supplier Metcash has told shareholders.

AAP

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The Conversation

Fines of $10 million will force supermarkets to think carefully before exploiting suppliers, but more could have been done

Suppliers of food and other products have been complaining for years about their treatment at the hands of Woolworths, Coles and Australia’s other big supermarket chains, although rarely to the supermarkets themselves – perhaps, as suggested in a recent Four Corners program, because they feared retribution.

The Guardian - AU

Supermarkets could face billions in fines for grocery code breaches as Labor commits to reforms

Government to adopt recommendations of conduct review in full amid consumer and supplier complaints about soaring profits

The Conversation

Albanese government will impose mandatory code and big penalties to stop supermarkets treating suppliers badly

Supermarkets guilty of anti-competitive behaviour towards suppliers will face large penalties under a mandatory Food and Grocery Code of Conduct the Albanese government will implement.

AAP

Metcash to acquire Superior Food, 2 hardware businesses

IGA supplier Metcash will buy Superior Food, Bianco Construction Supplies and Alpine Truss for a total of around $558 million.

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AAP

ASX notches gain as investors swarm back to stocks

The ASX200 has climbed 0.7 per cent as investors feel more confident global central banks will stop tightening rates earlier than previously thought.

AAP

Aussie supermarkets failing in war on plastic: audit

Australian supermarkets have been given an F for fail on plastic waste reduction, with an audit detailing some disturbing practices.

ABC News

Coles supermarket, Jeff Kennett slammed by government grocery reviewer

The supermarket watchdog has slammed former Victorian premier Jeff Kennett, in his role as an arbiter between Coles and its suppliers, for "flawed" decision-making and failing to comply with its directions.

AAP

Metcash lifts FY profit amid inflation

Metcash's full-year sales have risen 6.4 per cent to $17.4 billion, while underlying earnings jumped 17.7 per cent to $472.3 million.

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