Coles Chair Criticizes Political Focus on Supermarket Costs Amid ACCC Action

Coles Group Ltd (ASX: COL) Chairman James Graham expressed disappointment over the political focus on cost-of-living issues targeting supermarkets, as Coles faces scrutiny from the Australian Competition and Consumer Commission (ACCC) for allegedly misleading discount practices. Speaking at Coles’ annual general meeting, Graham highlighted concerns about how these issues have been politicized, affecting the supermarket industry. The company’s shares dipped 0.6% to $17.64 at the time of writing as shareholders gathered to discuss these developments and future prospects. The ACCC’s involvement adds pressure on Coles, underscoring ongoing tensions between supermarkets and regulatory bodies in a period marked by rising consumer prices and heightened market competition.

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