Store closures weigh on Metcash outlook

 In Australia, Metcash/IGA, NewZealand

Metcash has downgraded its earnings guidance for the current financial year blaming loss of operating leverage due to price deflation in its grocery business.
Also weighing on earnings is the closure of more Franklins stores than expected, du to delays in the acquisition caused by the competition watchdog’s legal challenge to the transaction.  Sydney Morning Herald – Read more…

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