/ 17 April 2024

D-day for the supermarket bosses


It’s fair to say that outgoing Woolworths Group boss Brad Banducci didn’t receive the warmest of welcomes at the Senate committee inquiry into supermarket prices yesterday… Greens Senator Nick McKim went all in on Woolworths Group’s profit metrics to the point where he told Banducci that he could be held in contempt and sent to jail if he didn’t answer the questions… The retail boss – who appeared before the hearing on his Pat Malone – had a go but there was no version of Woolies’ numbers that McKim would accept as showing a fair deal for consumers. Coles CEO Leah Weckert was next and managed to dodge mentions of prison time while explaining her operation’s profitability… The committee will now finalise its report – it’s due to be delivered by 7 May. 

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