AUSTRALIA: Corbett says Franklins stores successful integrated; ACCC did a "good job"
Roger Corbett, CEO of Australia's largest supermarket chain, revealed yesterday [Sunday] that the 67 stores Woolworths acquired in June from failed grocer Franklins had all been successfully integrated.
He congratulated the Australian Competition and Consumer Commission (ACCC) for its role in overseeing the sale of the 282-store strong Franklins chain, and insisted that it had successfully "strengthened competition in the food industry in Australia".
Corbett added that all the stores would be making some positive contribution to the firm's financial results, "but they'll make a much bigger contribution next year," he promised.
Companies: Woolworths Ltd
With 76% of Australia's food retail market, just two companies, Woolworths and Coles, dominate the region. In a two-part review, David Robertson looks at both supermarket chains. The first article wil...
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