Bunnings low-price case cost ComCom $1.57 million

Bunnings low-price case cost ComCom $1.57 million
The regulator alleges 45 breaches of the Fair Trading Act. (Image: Investore)
Rebecca Howard
The NZ Commerce Commission spent $1.57 million and 2,208 internal hours on the Bunnings NZ court case.The Commerce Commission filed charges against Bunnings in 2017, alleging it mislead consumers with its “lowest prices guaranteed” slogan. In total, the regulator alleges 45 breaches of the Fair Trading Act in the long-running case over misleading marketing.It had started investigating in late 2014 following a complaint from Bunnings’ rival, Mitre 10. The regulator laid charges in 2017, but the case only went to trial...

More Retail

Tony Balfour to retire from Warehouse board
Retail

Tony Balfour to retire from Warehouse board

The Warehouse Group director, Tony Balfour, will stand down after 12 years on the retailer's board.In a statement to the New Zealand Exchange (NZX) on Tuesday, the company said Balfour would not seek reelection at its annual shareholders' meeting in November.His departure...

Staff reporters 15 Oct 2024
Yarra Capital sells 7% stake of KMD Brands
Retail

Yarra Capital sells 7% stake of KMD Brands

Buyers include FirstCape Group, Allan Gray and ACC.

Gregor Thompson 14 Oct 2024
Allan Gray, ACC up stakes in KMD
Retail

Allan Gray, ACC up stakes in KMD

Who sold remains a mystery.  

Gregor Thompson 14 Oct 2024
‘Cash kawakawa’: Aotea skincare wants to grow with NZ flora
Primary Sector

‘Cash kawakawa’: Aotea skincare wants to grow with NZ flora

Company founder Tama Toki has his eyes on the United States.

Gregor Thompson 11 Oct 2024