Retail giants Woolies, Coles and Bunnings are set for a major grilling across two blockbuster hearings this week. Here’s what you need to know.A special inquiry set up to test whether Australians are shelling out too much at the checkout comes to a crunch this week, with retail giants Coles, Woolworths and Bunnings all set to defend themselves from allegations the sector’s supermarket space is uncompetitive and exploitative.
“They feel the effect of price gouging every day in two critical ways,” the union stated in its submission to the inquiry.“Secondly, they are the public face to irate consumers who exact their disquiet onto workers. Woolworths CEO Brad Banducci will appear before the committee on Tuesday morning and refute allegations Woolworths has engaged in price gouging practices.
Coles Group will also appear on Tuesday, with the retailer expected to argue grocery price increases have flowed from increasing supplier and input costs. “Coles is also impacted by the increased cost of doing business with increases in energy, labour, logistics, packaging, interest and tax costs.”
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