Leah Weckert will be the first woman to run Coles in the company's 109-year history. It comes as food prices jumped 7.7 per cent in the three months to December.
Coles says shoppers are flocking to the company’s homebrand products amid rising costs, but there’s relief in sight as price growth in its supermarkets has been easing since the start of the year.
She said there were many exciting projects on the horizon for the grocery giant, which is making major automation investments at its distribution centres along the east coast.Presenting his last set of results on Tuesday morning, Cain said price inflation across the company’s supermarkets business had accelerated to 7.7 per cent in the three months to December, up from 7.1 per cent in the September quarter.
Australia was currently seeing a “tale of two cities”, where some households were willing to keep buying premium goods, while others were now clearly on tight budgets, he said. “Own brand sales increased by 12 per cent in the quarter as our customers look for great value.”
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