ABC Coverage on Woolworths and Coles - it's been great for shareholders, but the cat is now out of the bag.

Woolworths specific tactics:

• Woolies sought to boost its profit margins by leveraging economy-wide inflation.
• Woolies requested to share in any price increases granted to its suppliers.
• Consumers ultimately paid more, suppliers did not receive the full price increase, but Woolworths increased its profit margins.

This negative press can't be good, cue public backlash...

Woolworths is reportedly seeking to acquire a major stake in unlisted pet food and accessory business PETstock as the former seeks exposure to record high levels of pet ownership encouraged by covid lockdowns. PETstock profit jumped $20m to $54m pretax profit in FY22, recently hitting $700m of sales.

https://www.marketindex.com.au/news/rising-pet-ownership-encouraged-by-covid-lockdowns-sees-woolies-eyeing-more