Woolworths boss Brad Banducci says Australians are gradually starting to change how they shop as inflation bites, trading down beef to cheaper proteins and stocking up on more canned produce.
Sales at Woolworths supermarkets were up 4.5 per cent to $45.5 billion, while Big W revenues dropped 3.3 per cent to $4.4 billion, with virus-related disruptions felt across the year. Woolworths CEO Brad Banducci said it was clear that cost of living pressures were changing how people shopped.Banducci said that while it was difficult to separate current shopping trends from the impacts of the pandemic, it was clear that cost of living pressures were changing how people shopped.
“Beef prices continue to go up and up... There comes a point where you can’t actually pass it on to customers,” he said. Where the company had accepted price rises from growers, it had not always passed these increases on to customers, he said. The business is continuing to feel the impacts of COVID, with staff absences remaining elevated due to illness.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Woolies shoppers going from fresh to frozen in cost of living crunchWoolworths boss Brad Banducci says Australians are gradually starting to change how they shop as inflation bites, with a move towards to more affordable products. MsEmmaK Woolies no longer the fresh food people MsEmmaK If you want to see how out of touch is to average Australians check out the 2nd item on 'The thrifty 50: Food shopping tips' (May as well say 'Kids! Stop eating!') MsEmmaK There's another shocking idea and it involves just shopping at small grocers and not the big three.
Source: smh - 🏆 6. / 80 Read more »
Woolies shoppers trade beef for chicken amid cost of living crunchWoolworths boss Brad Banducci says a tough trading environment throughout COVID disruptions, supply chain issues and widespread flooding resulted in a “financial performance that was below our aspirations” MsEmmaK MsEmmaK 'Aspirations'. Was that deliberate? MsEmmaK All the while under paying their staff. MsEmmaK Who cares? Oh that’s right, the shareholders. Who are the major shareholders of Woolworths? You know, the ones that walk always with the dividends en masse.
Source: theage - 🏆 8. / 77 Read more »
Woolworths CEO predicts when inflation will peakWoolworths Group CEO Brad Banducci said the supermarket's primary focus is to give customers 'value for money' as he justified its annual profit in line with rising grocery costs.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Inflation has touched ‘every part’ of our economy: Woolworths CEOWoolworths CEO Brad Banducci says inflation has touched every part of Australia's economy “for good or bad”. “Whether it’s the transportation costs, the warehouse costs, often the packaging costs – so there’s a lot of material issues that have been flowing through into the long life categories as well,” he said during a media conference in Sydney. He would be the last person to trust for an honest opinion on food prices, followed by a number of politicians
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Sacked former NBN director Brad Orgill lists $10m Mosman home - realestate.com.auThe stunning Georgian revival style house of sacked former NBN director Brad Orgill has claims on being one of northern Sydney’s best trophy homes. There is no greater joy than having financial stability and a life free of debts, that’s why I keep sharing the good news about Lisa_Mia_T0 it has been a pleasure collaborating with you...there is no other way I can show my appreciation other than sharing the good deed.
Source: dailytelegraph - 🏆 21. / 51 Read more »
Inside the honesty session the Eels hope can spark a premiership runIf Parramatta go on to do something special in their premiership campaign, the turning point came in Brad Arthur’s office after the loss to South Sydney | proshenks
Source: smh - 🏆 6. / 80 Read more »