Coles, Woolworths, Aldi: The billion dollar fine threat facing ...

Jun 23, 2024 · Coles, Woolworths, Aldi: The billion dollar fine threat facing supermarket giants which won't be extended to Bunnings and other major retailers Review tasked with examining …

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Australian Supermarkets: Billion Dollar Penalty Put Forward

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Apr 8, 2024 · Coles and Woolworths control roughly two-thirds of Australia’s supermarket sector. Each company reported profits of more than $1 billion last financial year. The supermarkets …

thedailyaus.com.au

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Coles, Woolies Will ‘never’ Be Split - MSN

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Coles, Woolworths, ALDI and Metcash and suppliers to the supermarket giants would be covered by the code. ... Coles, Woolies facing $10m fine threat ...

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FAQs about Coles, Woolworths, Aldi: The billion dollar fine threat facing ... Coupon?

How much will Woolworths & Coles be fined?

Woolworths would face maximum penalties of $5 billion and Coles could be forced to cough up $3.8 billion – 10 per cent of each company’s annual turnover – under the massive fines that will be introduced on the recommendation of a major review tasked with strengthening the Food and Grocery Code of Conduct. ...

How much would a 10 per cent fine cost Coles & Woolworths?

Coles reported about $40 billion of revenue in the last year, with Woolworths recording about $48 billion. Which means a fine of 10 per cent would be $4 billion. Ooft. ...

What if Woolworths & Coles were retributed in Australia?

Emerson’s report said food and grocery suppliers had no choice but to deal with Woolworths, Coles, ALDI and Metcash if they were to succeed in Australia. But they feared retribution from those supermarkets if they raised complaints or exercised their rights under the code. ...

Could Coles & Woolies be fined a record $4 billion?

Coles and Woolies had a reported annual revenue of about $40 billion, meaning a fine of 10 per cent could be a record-breaking $4 billion. A “best of both worlds” approach blending the dispute-resolution options used in the Dairy code of conduct and the quick provisions under the current voluntary code have been recommended. ...

Will Woolworths & Coles have a dispute-resolution process?

To avoid protracted and expensive litigation in the courts, a key element of the code will be the introduction of a dispute-resolution process, which Dr Emerson said Woolworths, Coles, ALDI and Metcash had given in-principle agreement to be bound by for compensation claims of up to $5 million. ...

Is Aldi a big threat to colesworth?

German retailer Aldi is closing in on 600 Australian stores. (ABC Rural: David Claughton) So is Aldi actually a big threat to ColesWorth? Aldi is undoubtedly having an impact on the market. ...