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Woolworths Profits Amid Rising Food Costs | Auckland News
Woolworths New Zealand is raking in $163 million profit despite spending $400 million on store upgrades — a move Consumer NZ calls “wrong” as millions struggle to afford groceries. The company defends itself with a Commerce Commission report claiming they’re the least profitable supermarket, arguing efficiency is key to staying competitive. But Consumer NZ’s Jon Duffy pushes back, pointing to rising food insecurity: over a third of Kiwis are stretching budgets, and 30% are cutting fresh food. Woolworths says they’re absorbing costs and running promotions to keep prices down — but the tension…
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