{"id":2006560,"date":"2023-08-20T23:21:01","date_gmt":"2023-08-21T03:21:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/aussie-grocers-to-reap-upbeat-profits-on-sticky-inflation-consumer-behaviour-key\/"},"modified":"2023-08-20T23:23:10","modified_gmt":"2023-08-21T03:23:10","slug":"aussie-grocers-to-reap-upbeat-profits-on-sticky-inflation-consumer-behaviour-key","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/aussie-grocers-to-reap-upbeat-profits-on-sticky-inflation-consumer-behaviour-key\/","title":{"rendered":"Australian grocery stores are expected to see positive profits due to rising inflation, with consumer behavior playing a crucial role."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faussie-grocers-to-reap-upbeat-profits-on-sticky-inflation-consumer-behaviour-key%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2006560&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>By Himanshi Akhand and John Biju<\/strong><\/p>\n<p>(Reuters)\u200c \u2013 Australian supermarkets are set to report stronger full-year earnings as decades-high inflation propped shelf prices, but outlook on consumer behaviour with rising \u2063borrowing costs and expenses would be key, according to analysts.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<h2>Top Supermarket Chains Expected to See Higher Profits<\/h2>\n<p>Top supermarket chains Woolworths\u200c Group\u2063 and Coles Group are expected to post higher annual profit, according to\u2063 analyst estimates, as shoppers opt against out-of-home consumption\u200c and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/aussie-grocers-to-reap-upbeat-profits-on-sticky-inflation-consumer-behaviour-key\/\" title=\"Australian grocery stores are expected to see positive profits due to rising inflation, with consumer behavior playing a crucial role.\">cut costs amid \u200cspiralling living expenses<\/a>.<\/p>\n<p>\u201cOur channel checks and pricing \u200dstudy suggest COL &#038; WOW have been lifting shelf prices \u200bby more \u200dthan the wholesale price increases they are accepting. \u2064We expect this will be reflected\u200c in higher gross margins,\u201d Jefferies analysts wrote in\u2064 a note.<\/p>\n<p>Coles and Woolworths sell two-thirds of Australian groceries by dollar value, \u2062and are seen as bellwethers of consumer behaviour.<\/p>\n<p>\u201cWhile the big supermarket chains are \u2064doing well in this era of high inflation, discretionary retailers are finding \u2062the \u200bgoing much tougher as consumers are\u200c forced\u200c to be more selective\u2062 about their spending,\u201d said Tim Waterer, chief market analyst at KCM Trade.<\/p>\n<p>Interest rates in Australia have\u2064 climbed by 400 basis points since May last year and added hundreds\u200d of dollars to monthly mortgage repayments, causing\u2062 a slowdown \u2062in consumer spending.<\/p>\n<p>Retail sales in the country suffered their biggest fall this year in June.<\/p>\n<p>For retail conglomerate Wesfarmers, analysts suggest its budget\u2062 department store Kmart will continue to benefit from \u2064rising inflation, while sales at \u200bhardware chain Bunnings, which helped the company make most\u2062 of its profit for years, are seen declining.<\/p>\n<p>Coles, which will report its annual results on Tuesday, is \u2063expected to post net profit after tax (NPAT) of A$1.11 billion,  higher that A$1.05 billion last year, according to Refinitiv data.<\/p>\n<p>Full-year NPAT of Woolworths is seen rising to A$1.74 billion from A$1.51 billion, and for Wesfarmers to A$2.47 billion from A$2.35 billion \u200clast year.<\/p>\n<p>Woolworths and Wesfarmers report annual\u2064 results on Aug. 23 and Aug. 25, respectively.<\/p>\n<p>\u201cGiven the slowing consumer, trading \u2064to start fiscal 2024 is the key area of focus, even if the second half of fiscal 2023 \u2064has been better than expected,\u201d UBS analysts wrote. <\/p>\n<p>They added \u2063that rising\u200d operating costs are a headwind for retail companies, but focus will be on how these costs are managed.<\/p>\n<\/p>\n<p>  (Reporting by Himanshi Akhand and John Biju in \u2064Bengaluru; Editing by Rashmi Aich)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/aussie-grocers-to-reap\/attachment\/file-photo-a-man-carries-several-shopping-bags-as-he\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/aussie-grocers-to-reap\/attachment\/file-photo-the-coles-main-wesfarmers-brand-logo-is-seen\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/aussie-grocers-to-reap\/attachment\/file-photo-australian-shoppers-tighten-belts-despite-special-offers\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In Golden, Colorado, on International Homeless Animal Day, POSO Dog Rescue is\u200b honoring shelter dog\u2019s who were\u2063 once on the kill list. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This week \u200dhas been filled with major headlines in the U.S. One America\u2019s Rachel Acenas has\u2063 more. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Trump picks Tucker over Fox, Elon blocks the block button and Rich Men North\u200c of \u2062Richmond continues \u2064to dominate<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>One America\u2019s \u200dJessamyn Dodd sits\u2063 down with \u200cCalifornia Senate candidate Eric Early to discuss the \u200brising crime\u2062 in the state.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By\u200c Ju-min Park SEOUL (Reuters) \u2013 Suspected \u2062North Korean hackers\u2063 have targeted a joint U.S.-South Korea military exercise\u2062 being held this week\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Ju-min Park SEOUL (Reuters) \u2013\u200d Suspected North Korean hackers have targeted a joint U.S.-South Korea military exercise being\u2064 held this week\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SAN FRANCISCO (Reuters) -California\u2019s autos regulator said\u2063 on Friday it is investigating \u201crecent concerning <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hilary-weakens-into-storm-still-barreling-towards-ca-with-heavy-rain-and-flooding-in-some-parts\/\" title=\"Hilary weakens but heads to CA with heavy rain and flooding in some areas.\">incidents\u201d involving\u2063 autonomous\u200c vehicles operated<\/a> by General Motors\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By \u200dValerie Insinna and Tim Hepher WASHINGTON\u2064 (Reuters) \u2013 JetZero, which has won U.S. Air Force backing to build \u2063a demonstrator for\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>earnings due to the impact of high inflation on shelf prices. However, analysts are cautious about the future, as rising borrowing costs and expenses may affect consumer behavior. Woolworths Group and Coles Group are the top supermarket chains in Australia.<\/p>\n","protected":false},"author":66,"featured_media":2006561,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2006560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2006560"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2006561"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2006560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2006560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2006560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}