Brands including IKEA, Petbarn and Officeworks are expected to front the looming Senate inquiry into the business practices of big-box retailers.
has doubled down on accusations of price gouging by big-box retailers including Bunnings, but the Coalition is yet to produce specific evidence to support claims consumers are being ripped off.
Mr Dutton also declined to produce specific examples of price gouging or improper treatment of suppliers by large retail chains. “Ultimately, we want a free market to operate effectively, and a free market is not where consumers are being ripped off.”In the five years to 2022-23 Bunnings’ earnings before tax margin, a measure of profitability, has remained fairly stable between 12 and 13 per cent.Metcash, the owner of Mitre 10 and Home Hardware, made a profit margin of 6.1 per cent from its hardware division last financial year.
Bunnings sent two executives to appear before the supermarket inquiry, frustrating MPs and prompting criticism of managing director Mike Schneider in the final report.
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