Brisbane Times
·general
·3 hours ago
Woolies launches charm offensive for customers as shareholders take a hit
Woolworths shares fell nearly 10 percent Thursday after the supermarket giant downgraded profit guidance despite strong third-quarter sales. CEO Amanda Bardwell acknowledged past pricing transparency issues, announcing a three-month freeze on 300 popular items including eggs and pasta. The move prioritizes customer trust over shareholder returns amid an Australian Competition and Consumer Commission investigation into alleged misleading discounts.
Summary by Glance · Brisbane Times
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