Woolworths News | The Market Online The Market Online – First with the news that moves markets. Breaking Australian stock market news, ASX 200 announcements and the latest ASX news today. Wed, 16 Apr 2025 04:29:01 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 The Calmer Co’s Fiji Kava product hitting Woolworths stores https://themarketonline.com.au/the-calmer-cos-fiji-kava-product-hitting-woolworths-stores-2025-04-16/ Wed, 16 Apr 2025 02:56:00 +0000 https://themarketonline.com.au/?p=750187 Beverage company The Calmer Co International Ltd (ASX:CCO) has achieved a significant milestone for its Fiji Kava product – which is based on the roots of the kava tree, often used to enable relaxation – with the 50g Instant Kava range to appear in Woolworths supermarkets across Australia from June 2025.

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This step, which will place Fiji Kava 50g Instant Kava on shelves in the vitamins section of Woolies, complements CCO’s distribution in more than 800 Coles supermarkets and Quickstop convenience stores nationally.

Backed by this – and the dominance of Coles and Woolies in Australia’s retail sector, where they account for around 67% of supermarket sales – CCO anticipates Fiji Kava and another product, Taki Mai, becoming mainstream beverage brands.

CEO Zane Yoshida said: “The national launch in Woolworths is a major milestone for The Calmer Co, and further validates the growing consumer demand for premium kava as a natural, functional alternative to alcohol.”

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“Being ranged in both major Australian supermarkets not only amplifies our reach but reinforces our ambition to lead this rapidly growing category.”

CCO has jumped higher since the news to trade at 0.5c, rising 25%.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Domination of supermarket titans Coles, Woolies a problem for farmers’ choice https://themarketonline.com.au/domination-of-supermarket-titans-coles-woolies-a-problem-for-farmers-choice-2025-04-07/ Mon, 07 Apr 2025 05:58:41 +0000 https://themarketonline.com.au/?p=748433 It’s no secret Australia’s supermarket sector is extremely concentrated, with Coles and Woolworths dominating the scene Down Under for some years now.

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Both can significantly influence the experience of shoppers on one end and the economic viability and practices of producers on the other.

The first of these has been a headline issue in the last two years, with the Australian Competition and Consumer Commission (ACCC) taking the supermarket giants to court in September 2024, accusing them of misleading marketing via Woolworths’ “Prices Dropped” and Coles’ “Down Down” campaigns.

However, in a follow-up enquiry completed in February 2025, the regulator expanded its concerns into the relationship between producers (including agricultural and horticulture growers) and the supermarkets they do business with, finding the dominance of ‘Colesworth’ is equally problematic there.

Colesworth domination here to stay?

In its ‘Supermarkets Inquiry’, the ACCC confirmed the significant market share held by Woolworths and Coles, acknowledging they accounted for 38% and 29% of supermarket grocery sales in Australia.

In third place was ALDI at 9%, while wholesaler Metcash – which supplies independent supermarkets – came up last at 7% in the supermarket rankings.

This formation plays an important role in shaping the national product pricing environment, with the regulator stating that “Coles and Woolworths have limited incentive to compete vigorously with each other on price.”

It added that while ALDI offered a viable low-cost alternative for shoppers – and could therefore act as a “source of price constraint” on the two giants, especially when there was product overlap across all three, it did not compete with them head-to-head across the whole range of products.

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Independent grocery stores – represented by Metcash – often played an important role in servicing local needs, particularly in areas outside Australia’s urban centres, where Woolworths, Coles, and ALDI aren’t always present.

(The ACCC also noted independent stores had been losing market share over time.)

Crucially, the inquiry confirmed the market structure of Australia’s supermarket sector which it described as “oligopolistic” – was unlikely to change soon.

Producers and supermarket buyers: a relationship of imbalance

When it comes to the supply chain for fresh produce in Australia, supermarkets – particularly the two majors – are influential players, and this is particularly enhanced when it comes to the horticulture sector.

Woolworths has been buying up between 20% and 25% of the country’s fruit and vegetable supply (excluding processing), while Coles procured approximately 15%.

The ACCC has acknowledged that due to this framework, business arrangements negotiated between supermarkets and growers influenced the production cycle, the pricing of goods, and also the viability of some growers’ and producers’ businesses.

To find out more, the regulator held a series of roundtables with farmers and wholesalers across Australia to gain insight into how farmers and wholesalers perceive this relationship and to hear about their experiences within the supermarket supply chain.

What they found was many suppliers were reluctant to raise concerns about the trading relationship due to fear of retribution; they feared the latter companies being able to practice ‘monopsony’ power in these relationships.

This refers to a situation in which a company can affect the overall market price of a product through its control of a significant chunk of upstream purchases. It can take the form of a price reduction (when the company buys less of it), or even a price increase (when the company purchases more).

The inquiry found many producers felt they had “little choice but to agree to highly unfavourable terms, including lower prices than they would expect if Coles and Woolworths faced greater competition from other buyers,” in addition to feeling under pressure to use ancillary services (such as freight or marketing) that came from the supermarkets in question, even if these were perceived to offer substandard services.

Also highlighted was the problem of information asymmetries which were sometimes taken advantage of by Coles and Woolworths: Resulting in suppliers themselves being unable to make the best business decisions for themselves.

The ACCC concluded protections offered under existing regulatory codes – such as the Food and Grocery Code – should be strengthened to support suppliers.

Supermarket dominance and the sustainability of Australia’s food system

The unequal relationship between farmers and supermarket buyers may also have a detrimental effect on the former’s capacity to adopt sustainable practices that benefit Australia’s food system overall, according to the Australian Conservation Foundation (ACF).

ACF corporate campaigner Bonnie Graham said several of the concerns raised by the ACCC’s inquiry reflected wider problems of sustainable food production and protection of the environment.

“The competition regulator has highlighted how the supermarket giants’ market dominance means farmers are less able to make informed decisions about how to invest in their businesses,” she explained to HotCopper.

“When Aussie producers don’t have the confidence to invest in their farms, this negatively affects the long-term viability and sustainability of Australia’s food system.

“Many farmers want to adopt nature and climate-friendly production methods to future-proof their businesses and Australia’s food security: the major supermarkets should support their suppliers in making these changes that benefit all of us.”

Major food companies need to ‘urgently address their role in the nature crisis’

Ms Graham said adjacent issues connecting food production and environmental sustainability had been raised in the ACF’s Future of Food report, released in July 2024, which assessed 20 major food companies in Australia on how they measured up to 37 indicators of sustainable practice.

A crucial issue for the companies – which included Coles and Woolworths, McDonald’s, Hungry Jacks, Aldi, Bega, and Sanitarium – was their inability to track commodities back to the farm level, with only nine of 20 being able to.

“Food supply chains are incredibly complex, with most food companies purchasing ingredients from middle suppliers, not from the farmers themselves,” Ms Graham said.

“There are often several suppliers and processors between the farm gate and the factory, making it harder for food companies to trace their ingredients back to farm level.”

This made it extremely hard to know how the associated supply chains might be impacting nature, according to the report.

The Future of Food also emphasised the importance of companies following international best practices in setting deforestation targets connected to their production, with some, like ALDI, already ahead on this issue.

“ALDI is a multinational company with headquarters in the EU, and the EU has stronger laws on deforestation and supply chain sustainability than Australia,” Ms Graham said.

“This is most likely the biggest factor in Aldi becoming the first Australian supermarket to adopt a deforestation-free policy.

“Since the Future of Food report was published, Woolworths has also set a deforestation-free target for its products by the end of 2025. Woolworths’ commitment includes beef, which is the biggest driver of deforestation in Australia.”

Join the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Woolworths: We’re already taking steps to boost price transparency https://themarketonline.com.au/woolworths-were-already-taking-steps-to-boost-price-transparency-2025-03-21/ Fri, 21 Mar 2025 00:19:42 +0000 https://themarketonline.com.au/?p=746411 Woolworths (ASX:WOW) has responded to a report from the Australian Competition and Consumer Commission examining pricing among major supermarkets, saying it had already taken action on many of the 20 recommendations made.

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This included providing customers with lower prices and “deeper” promotions, simplified promotional programs, clearer specials explanations, and greater accessibility to pricing info through the supermarket’s site and app.

Woolworths also confirmed it was following the ACCC’s recommendation in publishing all product prices online.

“We have worked constructively with the ACCC to help it understand our business, the sectors in which we operate, our suppliers and supply chains, and the considerable competition we face,” Amanda Bardwell, Woolies’ CEO, said.

“We play an important role in the lives of millions of Australians, more than 200,000 teammembers, and our suppliers.

“We have taken steps to improve the experiences customers and suppliers have with us, andcontinue to listen carefully to all of them.

“We fully understand customers want us to make it easier to find value, especially as the cost of living remains their major concern.”

In September 2024, the national regulator took both Woolworths and its close competitor Coles to court over claims their respective staple “Prices Dropped” and “Down Down” campaigns had been misleading.

The ACCC claimed some products were sold at regular long-term prices – excluding short-term specials, sometimes for up to a year – before being increased by 15%.

Then, these same products would be included in Woolworths’ “Prices Dropped” and Coles’ “Down Down” promotions, the ACCC said, with new prices less than the previous spike but still higher than the regular long-term price.

The ACCC review that followed – and which Woolies responded to today – aimed at encouraging greater transparency in pricing among Oz supermarkets.

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In its findings reported today, the ACCC noted “ALDI, Coles, and Woolworths are some of the most profitable supermarket businesses among global peers and their average product margins have increased over the past five financial years.”

Woolworths has been higher after the news and at 10:59am the supermarket was trading at $29.68 – a rise of 5.44% since the market opened.

Join the discussion: See what HotCopper users are saying about Woolworths Group and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Woolworths merges retail businesses, reshuffles executive suite https://themarketonline.com.au/woolworths-merges-retail-businesses-reshuffles-executive-suite-2025-02-04/ Tue, 04 Feb 2025 00:12:17 +0000 https://themarketonline.com.au/?p=738290 Retail giant Woolworths Group Ltd (ASX:WOW) has made readjustments to its organisational structure – including the merging of three subsidiary brands into its retail wing – as well as appointing new executives to various parts of its food business.

Metro, red meat supplier Greenstock, and own-brand business Woolworths Food Company Retail will now become part of Woolworths Retail more broadly.

The latter division will be led by Annette Karantoni, who has previously led Woolworths’ supply chain business Primary Connect, and has 20 years of experience across the company.

Another shift will see Sally Copland return to New Zealand to become managing director of the company’s regional division in that country.

The changes at Woolies have been made in the wake of rising costs and an ACCC investigation into pricing claims also involving Coles (ASX:COL) – with the board saying changes to its Food leadership and structure have been made ‘to allow a greater focus on the areas that have the most impact for customers.’

Woolworths Group CEO Amanda Bardwell said the shifts had been made in consideration of the latter’s needs. “Our Woolworths Retail business is the cornerstone of our group and critical to our success,” she said.

“Getting it right for our customers starts with our team and we are taking the opportunity tosimplify the way we work to create the biggest impact for our customers.

“With Metro, Greenstock and Woolworths Food Company Retail moving into Woolworths Retail under Annette’s leadership, we will be able to enhance the role our retail food stores and own brand play in meeting the needs of our customers.”

Woolworths shares last traded at $30.17 – a rise of 0.43% since the market opened.

Join the discussion: See what HotCopper users are saying about Woolworths Group and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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ASX Market Close: Bad taste for staples stocks sees index slide | September 23, 2024 https://themarketonline.com.au/accc-action-against-woolworths-coles-over-marketing-campaigns-2024-09-23/ Mon, 23 Sep 2024 06:37:18 +0000 https://themarketonline.com.au/?p=716053 The ASX200 closed about 0.7% down, and it was ACCC action against Woolworths (ASX:WOW) and Coles (ASX:COL) over marketing campaigns that saw Consumer Staples stocks hit on market today.

Consumer Staples shed 2.8%.

Coles  lost about 3.5% as its being pursued over its Down Down promotion and Woolworths lost 3.4% over action around its Prices Dropped campaign. Both were post-COVID.

The ACCC alleges the supermarkets’ promotions were false or misleading claiming they increased the prices of hundreds of items before advertising them as discounted at prices the same as, or higher, than before.

In the Green

Shipbuilder Austal (ASX:ASB) gained 4.7% today after its American division has been awarded a $220 million contract by the US navy to invest in infrastructure to support the annual building one Columbia-class and two Virginia-class submarines.

The news comes only a week after Austal was awarded a $670 million contract by General Dynamics Electric Boat.

Austal closed at $3.04.

Meanwhile, waste company Cleanaway (ASX:CWY) spiked after its FY24 annual report showed EBITDA of $728.7 million, more than 9% higher than in FY23.

Cleanaway’s profit after tax was nearly 15% higher and it’s paying a 5c dividend.

Cleanaway closed at $2.93.

And trade in the Original Juice Company (ASX:OJC) shares jumped nearly 6 per cent before trade was voluntarily suspended as the company scrambled to bring the market up to speed with a proposed merger with SPC Global, reported in the media.

The Original Juice Company last traded at 18 cents.

In the Red

Webjet Ltd (ASX:WEB) fell more than 10% upon the spinoff of its B2C arm today, under the name Webjet Group (ASX:WJL) and ticker code WJL.

The new Webjet Group opened at 99c, but quickly plunged down to around 80 cents, while the original Webjet – which will soon be renamed to Webjet Travel Group and hold the B2B assets – fell by about that same value to $7.35.

Meanwhile, the market punished Select Harvests (ASX:SHV) today, smashing the share price by close to 20 per cent after it raised $61.7 million and is launching a retail entitlement to pick up another $18.3 million.

The funds raised with $3.80 shares will be used to pay down debt and increase processing capacity.

Select Harvests was trading below that, at $3.65, at close.

This came on a day when Beston Global Food Company (ASX:BFC) announced it had gone into voluntary administration under KPMG, despite an offer for its SA cheese business earlier in the month.

Trade in Beston shares last closed in June at point-3 of a cent after the company lodged an $18.8 million loss for the first half of FY24.

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ACCC take Coles and Woolworths to court over ‘prices dropped’ and ‘down down’ claims https://themarketonline.com.au/accc-take-coles-and-woolworths-to-court-over-prices-dropped-and-down-down-claims-2024-09-23/ Mon, 23 Sep 2024 01:49:42 +0000 https://themarketonline.com.au/?p=716022 Coles and Woolworths are set to be hit with a spate of legal proceedings, as the Australian Competition & Consumer Commission (ACCC) takes launches separate court cases against the mega retailers over their ‘Prices Dropped’ and ‘Down Down’ claims – alleging that these are misleading.

The proceedings are to be heard at the Federal Court, where the ACCC will allege that Coles and Woolworths breached Australian Consumer Law by making discount pricing claims which misled consumers in relation to hundreds of common supermarket products.

Specifically, the regulator is focusing on a range of products which it believes were sold at regular long terms prices, excluding short-term specials, for at least six month and often up to a year, despite the advertised claims.

After this – the ACCC alleges – the same products were increased by at least 15% before being included in Woolworths’ ‘Prices Dropped’ promotion and Coles’ ‘Down Down’ promotion, with prices lower than the previous spike, but with prices that were higher than or equal to the regular long-term price.

ACCC chair Gina Cass-Gottlieb said the marketing campaigns had led Australians to form an inaccurate opinion of the pricing of these products.

“Following many years of marketing campaigns by Woolworths and Coles, Australianconsumers have come to understand that the ‘Prices Dropped’ and ‘Down Down’ promotions relate to a sustained reduction in the regular prices of supermarket products,” she said.

“However, in the case of these products, we allege the new ‘Prices Dropped’ and ‘Down Down’ promotional prices were actually higher than, or the same as, the previous regular price.

“We allege that each of Woolworths and Coles breached the Australian Consumer Law bymaking misleading claims about discounts, when the discounts were, in fact, illusory.”

She added that in many cases, the two companies had already decided to add these products to the campaigns before the price spike, but implemented the latter specifically to establish a higher ‘was’ price.

At 11:46 AEST, Coles shares were trading at $18.60 – a fall of 3.23% since the market opened, and Woolworths was trading at $33.87 – a fall of 3.17%.

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Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch https://themarketonline.com.au/consumer-staples-shine-amid-retail-slump-key-stocks-to-watch-2024-08-30/ Fri, 30 Aug 2024 03:43:08 +0000 https://themarketonline.com.au/?p=713442 With Australia’s retail spending down in six of the last seven quarters, the pressure on this sector is undeniable. In fact, Deloitte Access Economics’ Retail Forecasts have identified that over the past 18 months, the retail industry has been in a recession, raising concerns about whether these figures could be a precursor to a broader economic downturn. In these uncertain times, one pressing question emerges: Are there stocks that can weather the storm?

Enter the Consumer Staples sector. While it might not offer the thrills of rapid growth or high volatility, its resilience across different market conditions makes it a compelling choice in a weaker economy. As interest rates rise, consumers often tighten their belts on non-essential items, but essentials like groceries, household products, and personal care items remain a priority.

Take Coles and Woolworths, for instance. These supermarket giants recently reported impressive earnings, with Coles generating $1.1 billion and Woolworths pulling in $1.7 billion. These figures underscore strong consumer demand and highlight the companies’ adept management, even in challenging times.

But beyond these household names, there are other Consumer Staples stocks that deserve attention:

GrainCorp (ASX:GNC): A leader in agribusiness, GrainCorp plays a crucial role in the grain and oilseed markets, both essential food products. As global food demand rises and supply chains face pressure, GrainCorp is well-positioned to benefit. Turning to the share price, since hitting a low in October 2023, the stock has surged over 30 per cent, approaching the $9 resistance level. A break above this point could pave the way for a retest of its all-time high at $10.86.

Inghams Group (ASX:ING): One of Australia’s largest poultry producers, Inghams Group is a vital link in the food supply chain. The company recently reported a substantial 7.2 per cent increase in revenue growth. However, concerns over a decline in poultry volume growth triggered a 20 per cent drop in the share price. Currently, the stock is nearing the $3 historical support level, which could attract investors, although a dip below $3 would be a bearish sign.

Elders (ASX:ELD): Elders provide essential services and advice to farmers and agribusinesses, positioning themselves to capitalise on growing food demand driven by population growth. With its share price climbing over 60 per cent since the low in October 2023, Elders is on a strong upward trajectory, and a breakout above $10 could ignite a rally toward $15, offering significant upside potential.

In times of economic uncertainty, the Consumer Staples sector stands out as a smart choice for investors seeking stability and growth potential.

What are the best and worst-performing sectors this week?

The best performing sectors include Financials and Real Estate, both up over one per cent, followed by Materials, slightly down 0.2 per cent. The worst performing sectors include Information Technology and Consumer Discretionary, down over one per cent, followed by Communication Services, down over half a per cent.

The best performing stocks in the ASX top 100 include IDP Education, up over nine per cent, followed by Worley Limited, up over eight per cent, and Resmed, up over six per cent. The worst-performing stocks include NIB Holdings, down over 13 per cent, followed by Mineral Resources, down over nine per cent and Whitehaven Coal down over six per cent.

What’s next for the Australian stock market?

With the All Ordinaries Index slightly up this week, the question now is whether this marks the final push from the buyers in the short term. In fact, signs are already emerging that the market may be preparing for a wave of selling in the coming weeks.

While buyers have shown strength over the past three weeks, a concerning trend has developed: declining trading volume. Since mid-August, participation has steadily dropped, with this week’s volume at just half of last week’s. This decrease in activity may signal waning confidence, indicating that the market might not be ready for a move to a new all-time high just yet.

Adding to this cautious outlook is the historical performance of the All Ords in September. Over the past 40 years, the index has typically declined by over half a per cent during this month, reinforcing the idea that the market could face headwinds.

However, there’s some positive news as well. The materials sector has traded higher for the second week in a row, a first since May this year and the Financial sector has also shown strong performance this week, leading the market.

I’ve often emphasised that when Financials and Materials rise together, it’s unlikely that the market will experience a significant decline. The alignment of these key sectors suggests that any September pullback might be brief both in terms of depth and duration. In fact, with these sectors gaining momentum, there’s even a chance that September could surprise with a positive turn, potentially driving the All Ords to new all-time highs.

Regardless of the market’s broader direction, it’s essential to stay focused on individual stocks. Identifying and capitalising on stocks that outperform their peers or the broader market can make a significant difference to your return.

For now, good luck and good trading.

Dale Gillham is the Chief Analyst at Wealth Within and the international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of the bestselling and award-winning book Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in all good bookstores and online at www.wealthwithin.com.au. 

Disclaimer:While Wealth Within holds an Australian Financial Services License (AFSL:226347) the information featured in this program is general in nature and therefore should not be relied upon. Before making any investment decisions, you should consult a licensed professional who can advise whether your investment decisions are appropriate for you.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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Retail Revolution: Shekel Brainweigh leads the charge in Digital Inventory Management https://themarketonline.com.au/retail-revolution-shekel-brainweigh-leads-the-charge-in-digital-inventory-management-2024-05-15/ Wed, 15 May 2024 05:07:02 +0000 https://themarketonline.com.au/?p=697589 Theft is still an issue for supermarkets and other retailers, but AI is likely to play a key part in reducing these losses.

ASX-listed Shekel Brainweigh has built AI into its high-tech product scale and weighing technologies. The company has a history dating back 40 years, serving healthcare, retail and industrial customers. It listed on the ASX in 2018 and has been working to improve its product suite ever since.

In this interview, HotCopper and The Market Online reporter Fouad Haidar discusses the company’s activities with Shekel Brainweigh’s Australian country manager Danny Nadri.

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Are there gains to be made with the grocery giants? https://themarketonline.com.au/are-there-gains-to-be-made-with-the-grocery-giants-2024-04-19/ Fri, 19 Apr 2024 02:55:23 +0000 https://themarketonline.com.au/?p=693055 There is a growing storm of controversy around Coles (ASX:COL) and Woolworths (ASX:WOW) as they face intense scrutiny over price hikes and supplier pressures in a Senate inquiry.

This raises an interesting question as to whether investors should cut ties with these corporate giants or whether there is the prospect of finding a gem that is waiting to be unearthed. Let me explain.Australian households are grappling with the relentless surge in living costs through higher interest rates and the burden of inflated supermarket bills. While this weighs heavily on the average family, there could be a silver lining for investors. These escalated supermarket prices may translate into healthier profits and potentially signal a bright future for both Coles and Woolworths.Flashback to August last year when Woolies and Coles announced profits of 4.6 per cent and 4.8 per cent, respectively, over the past year. Those numbers might not make your jaw drop, but here’s the kicker: Both Coles and Woolies have seen their earnings increase year on year since 2020. All of this has occurred during a pandemic recovery and inflation storm.You would think that with shoppers spending less, earnings would decrease, but the opposite has happened. So, how did they pull it off? There can really only be two reasons: squeezing suppliers for lower costs while stacking the supermarket shelves with higher-margin products.Interestingly, despite Woolworths’ earnings uptick, its share price has taken a nosedive, with the stock down approximately 25 per cent from its peak in August 2021. Worse, from a technical perspective there is no indication the downward trend will halt anytime soon.However, here’s the silver lining I was talking about: Woolworths’ share price has a track record of bouncing back splendidly after corrections in the range of 20 to 30 per cent. So, if the company can keep the profit train rolling despite a sluggish economy, this stock has the potential to outperform over the longer term.Coles share price is also down about 20 per cent from its peak in August 2022. In contrast to Woolies, however, its share price has been rising since October 2023. If this trend can continue, I see the potential for the price to reach around $19 in the medium to long term, which provides a fantastic opportunity for savvy investors and traders.

What are the best and worst-performing sectors this week?

The best-performing sectors include Utilities, up just under a per cent followed by Consumer Staples and Materials, which are both down just over one per cent. The worst-performing sectors include Healthcare, down more than three per cent, followed by Real Estate and Consumer Discretionary, as they are both down over two per cent.The best-performing stocks in the ASX top 100 include Lynas Rare Earths (ASX:LYC) and Bank of Queensland (ASX:BOQ), which are both up over six per cent; followed by IDP Education (ASX:IEL), which has been up over three per cent. The worst-performing stocks include Dominos Pizza (ASX:DMP), down over seven per cent; followed by James Hardie (ASX:JHX), down over six per cent; and, Block (ASX:SQ2), down more than five per cent.

What’s next for the Australian stock market?

This week, the sellers have taken control, steering the market down by around 2 per cent, making this week one of the most significant weekly drops of the year. Regular readers will know that I have been anticipating a significant peak in the All-Ordinaries Index this month and that April would be volatile.Initially, I expected the peak to occur closer to the end of the month, but it now seems like the peak might have arrived early. If sellers keep up their commitment to driving prices down next week, we can expect a fall of 8 to 12 per cent from the all-time high of 8,168 points that occurred on April 2. This means that the All-Ordinaries Index could fall to 7,500 or even 7,200 points over coming weeks.While a market correction of more than 8 per cent can be intimidating, it’s important to remember that these corrections are very normal and occur frequently. Further, they offer some of the best opportunities for those who can buy into good stocks at cheaper prices. The market gives you these favourable situations each year, so it’s essential that you prepare yourself to take advantage of them.That said, I am not suggesting diving into stocks while the market is falling. I am suggesting investors stay vigilant and keep watching the market and key stocks closely, so they’re ready to pounce as soon as signs of a reversal appear. Right now I still like the Energy, Materials and Utilities sectors, and it may pay to start looking there for good stocks that will likely rise once the pullback has finished.

Dale Gillham is Chief Analyst at Wealth Within and international bestselling author of How to Beat the Managed Funds by 20%. He is also the author of Accelerate Your Wealth—It’s Your Money, Your Choice, which is available in bookstores and online at www.wealthwithin.com.au

While Wealth Within holds an Australian Financial Services License (AFSL:226347) the information featured in this program is general in nature and therefore should not be relied upon. Before making any investment decisions, you should consult a licensed professional who can advise whether your investment decisions are appropriate for you.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

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