Woolworths boss Brad Banducci says there’s solid growth in the company’s food business, but like at rival Coles, customers behaving badly is a growing concern.
Supermarket giant Woolworths has increased its full-year profit to $1.6 billion and hiked its dividend, but its discount department store Big W is taking a hit as consumers dial back non-essential spending.
Chief executive Brad Banducci said theft had spiked in the third quarter, and was “one of the components [of] stock loss, but not the biggest component”. Aggression towards staff members was a bigger concern, he noted, with the company recording more than 3000 acts of violence, threats and abuse over the past year.
He said the company was continuing to look at ways to support customers under pressure in the cost-of-living crisis with well-priced product offers.in confirming that the inflation on food prices has started to moderate, with meat, fruit and vegetable prices dropping, though prices for packaged goods remain elevated.
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