Exclusive: Coles and Woolworths have consistently expanded their profit margins in a cost-of-living crisis, outstripping their UK counterparts
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Australia’s big supermarkets are far more profitable than their British peers Tesco and Sainsbury’s, and the gulf has widened during the pandemic, leaving shoppers with fast-escalating food bills in a cost-of-living crisis.
Exclusive Guardian Australia analysis of financial accounts shows Coles and Woolworths have consistently expanded profit margins for their food businesses at the same time as counterparts in Europe report falling or mixed profitability.
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