Profit margins at Coles and Woolworths were in line with major overseas supermarkets in 2008. Now they’re the highest in the world
by Jonathan Barrett from World news | The Guardian on (#6R4M7)
Australia's grocery duopoly has leapfrogged peers when it comes to profitability - these charts prove it
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Sixteen years ago, the Rudd government ordered an inquiry into the supermarket sector amid rising public discontent about grocery prices.
The sector was already highly concentrated with Coles and Woolworths enjoying a collective 65% share of the market, as the Franklins business withered and upstart Aldi was still in its early stage of expansion in Australia.
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