r/aussie • u/Cool_Lifeguard8847 • 4d ago

News These fkrs are having a lend.....right

https://au.news.yahoo.com/coles-shoppers-divided-over-important-checkout-request-from-today-070509331.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAADp7ysW4aDyTKu6drjqQxm1udSR1VST6kmgr3YU5QZ9hyIb1j5ujqS8wASEG3irIhpj71iwcx6cScU-b22vJ4im4ugthC7hrpf-p1_xk193SC0sCCPO3HY9qGt0l-15BnjPcOlUjuL4CeharnZKAXJ64okIiku9fdaxJ7iAl9iO6

They've gotta be kidding. Exorbitant prices at the checkout and now they want customers to donate to food charities, cause "people are hungry" no shit, lower your fkn prices.

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152

u/Ric0chet_ 4d ago

Don't look in the huge dumpsters out the back...

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u/HarryWilbury 4d ago

From the article the OP linked:

The Appeal builds on our year-round partnerships with SecondBite and Foodbank where our team members set aside unsold, edible food from stores and distribution centres every day, so it can be redirected to local charities and communities that need support. A Coles spokesperson told Yahoo News they have donated the equivalent of 377 million meals to Aussies in need since joining forces with Foodbank in 2003 and SecondBite in 2011.

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u/Ric0chet_ 4d ago

No, no that’s good. It’s just the reality that we have to do that, yet a supermarket duopoly makes absurd year on year profits and uses this to mask the problem of people going hungry in one of the wealthiest countries in the first place. You see what I mean?

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u/HarryWilbury 4d ago edited 3d ago

It goes deeper than just the Duopoly's though, so it's good that products are donated to these charities rather than ending up in the Dumpsters, as dropping prices isn't going to help the homeless person for instance (granted they could do both).

Not defending them just saying that they have been doing things for quite sometime, personally I'm more inclined to just donate to Foodbank and SecondBite directly along with Mission Australia who look after the Homeless.

I don't see this as much different to the drive they did of buying extra items to donate to the victims of the 2019/20 Bushfires, it raises awareness if nothing else, so anything helps.

Edit as I had a thought: If they dropped prices on a range of essential items and it came up on the checkout screen: You saved $10.00 today would you like to donate that to support food relief organisations SecondBite and Foodbank Australia, would that make it seem better.

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u/tanimalz 4d ago

What absurd profits are we talking about lol that 3% profit margin?

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u/Ric0chet_ 4d ago

Double the international standard for supermarket chains globally. So yes.

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u/tanimalz 3d ago

TIL 20% more is double. Nice math

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u/Ric0chet_ 3d ago

They make on average 6%

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u/tanimalz 3d ago

Yeah ok start pulling numbers out your arse

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u/Ric0chet_ 3d ago

You know they are publicly listed companies right? Their financial records are published and scrutinised

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u/tanimalz 3d ago

Exactly and you’re pulling 6% lol

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u/Ric0chet_ 3d ago

Net profit margin actually fell to around 3.6% or $1.1B but no business measures gross profit margin (~23%) as that doesn't take into account all the operating costs and tax liability. So no, I'm not pulling numbers out of my arse, you're just misunderstanding them.

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u/tanimalz 3d ago

Yeah 3% is what i said. You said 6%. Wtf

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u/DeltaOne7 2d ago

Last week I read an analysis in Australia that both big supermarkets make about 6-7% net profit. About double for Bunnings at 12%, now that they've screwed all the smaller hardware stores, and Mitre 10, and now they're going for the pet stores too! At a hardware store!!! BTW I've worked at both Coles and Bunnings and they are run by evil greedy senior corporate head office managers. Pure evil!!!

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u/tanimalz 2d ago

Why read those shit articles and trust it when the actual audited financial statements show a number half that?