Grocery inquiry: supermarket owners argue their corner

Wed, 27 Oct 2021

Supermarket owners spent the fourth morning of hearings on grocery market competition arguing they were not excessively profitable and even if they were, reductions to food prices would be minimal.“If we reduced our profits to what you conclude is normal, which is WACC (weighted average cost of capital), essentially it would have a two-cent shift in the dollar shelf price, so it has a very immaterial impact on the shelf price to the consumer,” Jo Allan from Foodstuffs North Island told members of the Commerce Commission in public he...

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