Metcash boss warns on excessive market power of Coles and Woolworths
The boss of Metcash’s $9 billion food and grocery division has warned the aggressive push into financial services by supermarket giants Coles and Woolworths could pose a serious threat to competition much in the same way their petrol shopper dockets squeezed independent retailers before the competition regulator stepped in to rein in the fuel schemes.
Fergus Collins, who in December was elevated from running wholesaler Metcash’s liquor distribution arm to head its flagship supermarkets business, also said the current supermarket sector was not a level playing field with Coles and Woolworths – who he dubbed the ‘’two big gorillas’’ – also getting favourable rezoning rulings to build new supermarkets in suburbs where the local population were already flooded with retailers.
‘’I think there are plenty of examples where the planning laws have been inconsistent, where Woolworths and Coles are getting favourable treatment when it comes to rezoning,’’ Mr Collins said. Sydney Morning Herald – Read more…