By Himanshi Akhand and John Biju (Reuters) - Australian supermarkets are set to report stronger full-year earnings as decades-high inflation propped ...
Discover Why The Armview is Halifax's Best Family Friendly Patio | SaltWire - Australian supermarkets are set to report stronger full-year earnings as decades-high inflation propped shelf prices, but outlook on consumer behaviour with rising borrowing costs and expenses would be key, according to analysts.
"Our channel checks and pricing study suggest COL & WOW have been lifting shelf prices by more than the wholesale price increases they are accepting. We expect this will be reflected in higher gross margins," Jefferies analysts wrote in a note. "While the big supermarket chains are doing well in this era of high inflation, discretionary retailers are finding the going much tougher as consumers are forced to be more selective about their spending," said Tim Waterer, chief market analyst at KCM Trade.
Coles, which will report its annual results on Tuesday, is expected to post net profit after tax of A$1.11 billion, higher that A$1.05 billion last year, according to Refinitiv data.
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