Australia sues grocery giants Woolworths and Coles over 'illusory' discounts
-Australia's consumer watchdog accused the country's two largest supermarket chains of misleading shoppers about discounts on hundreds of products in lawsuits filed on Monday, tightening pressure on the sector amid a cost-of-living crisis.
The purported sale price was higher than the original price, the lawsuits said. The companies in some cases intentionally put up the prices for the purpose of establishing a higher"was" price, the suits said. The penalty"has to be high enough to be not a 'cost of doing business', to deter them from this conduct in the future and deter all retailers from this manner of conduct", Cass-Gottlieb said.
Jefferies analyst Michael Simotas said it was hard to predict the outcome of the cases, but said the penalties could be significant.
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