Food price inflation boosts $3.4b sales for Foodstuffs South Island

Food price inflation boosts $3.4b sales for Foodstuffs South Island
Foodstuffs South Island's $3.4b in sales were driven primarily by food price inflation. (Image: Foodstuffs)
Ella Somers
Food price inflation might be pinching consumers where it hurts but it helped bolster Foodstuffs South Island’s latest financial result.In the co-op’s 2023 annual report published on Tuesday, chair Russell Mckenzie said annual sales for the co-op increased 6.9% to $3.41 billion.This was driven primarily by food price inflation, he said.The return of domestic and international tourism to key markets in the second half of the co-op’s financial year also helped Foodstuffs South Island deliver a “solid” performanc...

More Retail

KMD Brands pulled into Trump trade war
Retail

KMD Brands pulled into Trump trade war

Like a lot associated with so-called ‘Liberation Day’, much remains uncertain.

Hospitality tech firm Bustle brewing up success
Retail

Hospitality tech firm Bustle brewing up success

App for cafes is steaming ahead with a plan to grow to 5000 customers in three markets.

Trump-era FX 'compounding' margin losses, analysts say
Retail

Trump-era FX 'compounding' margin losses, analysts say

"Liberation day" could make matters worse, says Kiwibank’s Kerr.

Gregor Thompson 02 Apr 2025
Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Pattrick Smellie 02 Apr 2025