I think the statistics tell the real story
Coles tell us its “Down Down Down campaign” saves its shoppers $450 per year.
Coles on the other hand recorded a 16.3 per cent increase in 2011-12 pre-tax earnings to $1.356 billion.
Coles CEO Ian McLeod earns $15.63 million in salary alone. Cant even imagine what his bonuses are
McLeod’s spectacular earnings are more than double that of his boss, Wesfarmers CEO Richard Goyder, who made $6.9 million last year.
Coles home label brands now account for around 51% of Coles milk volumes, up from around 25% in 1999/2000. This result has been rapidly assisted by the current $1/litre milk discounting marketing strategy
I don’t know whether to laugh or cry when they spruik the milk price wars are solely to help Australian families.
