Comment on Albanese invites Arab 'hypermarket' to compete with Coles and Woolworths

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thatKamGuy@sh.itjust.works ⁨3⁩ ⁨days⁩ ago

Coles and Woolworths have pretty consistently posted Net Profits of ~5-6% for over the past decade (probably longer, I CBF checking).

Meanwhile Coca Cola most recently posted a Net Profit of ~22.6%; PepsiCo, Mondelez & Kraft-Heinz all post Net Profits of ~10-12%, while all avoiding paying Australian taxes - but nah, the Supermarkets are the ones being greedy.

I return to my original point; the reason why people are feeling the pinch at the checkout lane is predominantly because their discretionary spending funds have been annihilated directly (and indirectly) by skyrocketing property prices.

Everything else, including this baseless discussion on how just adding one more supermarket chain to the Australian market will somehow miraculously solve the current affordability crisis, is just theatre to distract from the actual underlying issue.

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