Explore Woolworths' remarkable return to profitability amid rising costs. Delve into the implications for pricing strategies, consumer sentiment, and market competition.

Woolworths swung back to profit for the first half of the financial year, compared to a $781million statutory loss the year before. Its gross food margin was squeezed because of higher meat costs, more discounts and customers buying cheaper items. Food sales would have been higher if not for strikes at its distribution centres, costing the business $240 million. Woolworths will cut $400 million in costs, meaning some office jobs will go. And like Coles, it's also slashing the number of products it sells.  Retail analyst George Boubouras from K2 Asset Management says both supermarkets will expand their homebrand range to maintain margins and deliver for their shareholders. He says even though margins are falling, they're not falling fast enough and are still double those of supermarkets in the EU and UK.  Woolies chief executive Amanda Bardwell dismissed the claim saying "every country has a different economic setting, different wage rates" and she didn't want to make direct comparisons to global benchmarks.  Together, Woolworths and Coles account for about 67 per cent of supermarket retail sales. Australia's consumer watchdog has been investigating that market power, and is due to deliver its final report to the federal government by February 28.  The ACCC has also taken Coles and Woolworths to court, alleging the pair engaged in misleading and deceptive practices by inflating the prices of hundreds of grocery products before marking them as discounted. Food and non-alcoholic drink prices were one of the biggest contributors to inflation in the year to January, up 3.3 per cent, driven by higher costs for fruit, vegetables, meat and seafood.  In the same period, headline inflation remained steady at 2.5 per cent.  Former ACCC boss Graeme Samuel says he's yet to see evidence of the supermarkets price gouging.  He says competition is the ultimate solution to keep prices competitive. He thinks Aldi, IGAs, Costco and Amazon are giving Australians greater choice.  Rhiana Whitson reports. 
#ABCBusiness

Subscribe: http://ab.co/1svxLVE
Read more here:

ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.

For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on X (Twitter): http://twitter.com/abcnews

Note: In most cases, our captions are auto-generated.

#ABCNews #ABCNewsAustralia

Woolworths follows Coles in slashing products on shelves | The Business | ABC News

Two nurses in Sydney face police investigation after making alarming comments about harming Israeli patients. Discover the implications of their actions and the broader conversation on hate speech.

Strike Force detectives have raided the Western Sydney home of a nurse at the centre of the sickening antisemitic video filmed inside Bankstown Hospital. | Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9 | Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6

FOLLOW 9News Australia
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
► Instagram: https://www.instagram.com/9news/

Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.

#9News #BreakingNews #NineNewsAustralia #9NewsAUS

Detectives raid nurses home in antisemitic video probe | 9 News Australia

Stay informed about Tropical Cyclone Alfred's development and potential impact on Queensland. Learn what to expect and how to prepare.

Tropical cyclone Alfred has formed off the coast of Queensland and is continuing to intensify. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*

*Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6*

FOLLOW 9News Australia
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
► Instagram: https://www.instagram.com/9news/

Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.

#9News #BreakingNews #NineNewsAustralia #9NewsAU

Tropical cyclone Alfred continues to intensify | 9 News Australia

Discover how Prime Minister Albanese's $8.5 billion Medicare investment aims to enhance accessibility for all Australians and reshape the healthcare landscape.

The government has pledged to make nine out of 10 GP visits free for patients by 2030 under an $8.5 billion plan to fund Medicare. Prime Minister Anthony Albanese highlighted making Medicare stronger as the ‘beating heart’ of his election campaign. 

Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2025-02-22/labor-medicare-promise-to-make-gp-visits-free-for-most/104969694

ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.

For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook: http://facebook.com/abcnews.au
Follow ABC News on Instagram: http://instagram.com/abcnews_au
Follow ABC News on X (Twitter): http://twitter.com/abcnews

Note: In most cases, our captions are auto-generated.

#ABCNews #ABCNewsAustralia

Prime minister calls $8.5b Medicare promise ‘heart’ of re-election bid | ABC NEWS

Uncover the shocking story of the Scaff brothers' feud over a home, marked by violence, legal battles, and deep emotional scars. Explore the complexities of family relationships.

It's the ugliest family feud we've ever seen on A Current Affair - a decade-long battle between brothers over who owns a home.

The fights went far beyond the courtroom - even our camera crews getting attacked... and just when you thought it was all over - it's not. (Broadcast 17 February, 2025)


Subscribe here: http://9Soci.al/v6PJ50GjSKI |

Stream full episodes on 9Now: https://9now.app.link/5Kxzlq5dX6 

Follow ACA on Facebook: http://facebook.com/ACurrentAffair9
Follow ACA on Twitter: http://twitter.com/ACurrentAffair9 
Follow ACA on Instagram: http://instagram.com/ACurrentAffair9 

A Current Affair covers the realms of politics, crime, human rights, science, technology, celebrities and entertainment - all investigated by a dedicated team. A Current Affairs airs weeknights 7.00pm on Channel 9

Explosive family feud comes to an end in court | A Current Affair

Explore the tragic events of the Tamworth standoff, the community's response, and the critical issues surrounding violence and mental health.

A man is under police guard after falling from a roof during a dramatic stand-off with police in the NSW town of Tamworth. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*

*Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6*

FOLLOW 9News Australia
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
► Instagram: https://www.instagram.com/9news/

Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.

#9News #BreakingNews #NineNewsAustralia #9NewsAU

Man accused of stabbing friend to death before rooftop rampage | 9 News Australia

A brazen daytime shooting in Brighton LaSalleigne involving gang violence raises safety concerns among residents. Discover the details and community reactions.

One of Sydney's most notorious crime gangs could be linked to a brazen day time assassination attempt. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*

*Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6*

FOLLOW 9News Australia
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
► Instagram: https://www.instagram.com/9news/

Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.

#9News #BreakingNews #NineNewsAustralia #9NewsAUS

Cars and home sprayed with bullets in broad daylight in Sydney | 9 News Australia

Discover how the residents of Kempsey are rallying for stronger laws and safety measures in response to a surge in teenage crime. Join the conversation about community safety.

Scared and frustrated locals on the Mid North Coast staged a rally over out of control teenage crime.

Subscribe and set 🔔 » https://7news.link/YTSubscribe | 

For the latest Australian news and breaking news alerts, connect with 7NEWS online:
Visit » https://7news.com.au
7NEWS Podcast » http://smarturl.it/7NewsDaily
Facebook » https://www.facebook.com/7NewsAustralia
Twitter » https://twitter.com/7NewsAustralia
Instagram » https://www.instagram.com/7newsaustralia/ 

7NEWS combines the trusted and powerful news brands including Sunrise, The Morning Show, The Latest, and 7NEWS.com.au, delivering unique, engaging and continuous coverage on the issues that matter most to Australians. Watch 7 News Australia full broadcasts and full episodes nightly at 6pm and weekdays at 11:30am and 4pm on Channel 7 and 7plus.

#BREAKINGNEWS #7NEWS

Rally over out of control teenage crime on the Mid North Coast | 7NEWS

The Daily Telegraph faces backlash for an undercover operation at Cairo Takeaway Cafe, raising ethical questions in journalism. Discover the details and community reactions.

The Daily Telegraph is tonight under fire after an ugly blow up at a Newtown cafe after allegations that the newspaper was running an undercover operation to see what it's like being Jewish in Sydney. | *Subscribe and 🔔: http://9Soci.al/KM6e50GjSK9*

*Get more breaking news at 9News.com.au: http://9Soci.al/iyCO50GjSK6*

FOLLOW 9News Australia
► Facebook: https://www.facebook.com/9News/
► Twitter: https://twitter.com/9NewsAUS
► Instagram: https://www.instagram.com/9news/

Join 9News for the latest in news and events that affect you in your local city, as well as news from across Australia and the world.

#9News #BreakingNews #NineNewsAustralia #9NewsAUS

Breaking News

Breaking News

Woolworths Returns to Profit Amid Rising Costs and Market Scrutiny

Sydney News

Featured

Police Investigate Disturbing Remarks by Nurses in Sydney

National News

Tropical Cyclone Alfred: What You Need to Know

Business & Economy

Medicare in Focus: The $8.5 Billion Investment and Its Implications

Breaking News

Explosive Family Feud: The Scaff Brothers’ Battle Over a Home

Sydney News

Featured

Tragic Standoff in Tamworth: A Man's Fatal Actions and the Aftermath

Breaking News

Featured

Daylight Shooting in Brighton LaSalleigne: A Crime Scene Unfolds

Crime & Justice

Outrage Over Rising Teenage Crime in Kempsey: Community Rallies for Action

Sydney News

Featured

Daily Telegraph Under Fire After Controversial Undercover Operation