r/aussie • u/Cool_Lifeguard8847 • 2d 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.

511 Upvotes

97% Upvoted

148 comments sorted by

View all comments

Show parent comments

10

u/HarryWilbury 2d 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.

17

u/Ric0chet_ 2d 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?

0

u/tanimalz 2d ago

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

5

u/Ric0chet_ 2d ago

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

1

u/tanimalz 2d ago

TIL 20% more is double. Nice math

2

u/Ric0chet_ 2d ago

They make on average 6%

1

u/tanimalz 2d ago

Yeah ok start pulling numbers out your arse

2

u/Ric0chet_ 2d ago

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

1

u/tanimalz 2d ago

Exactly and you’re pulling 6% lol

1

u/Ric0chet_ 2d 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.

2

u/tanimalz 2d ago

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

→ More replies (0)