With the Australian Competition and Consumer Commission (ACCC) taking a hardline stance towards supermarkets who have been accused of unfair pricing mechanisms and price gouging, it is now conducting a series of public hearings from November 7 to 22 as part of its ongoing Supermarkets Inquiry.

The public hearings are being livestreamed via the ACCC website and involve executives of Aldi, Coles, Metcash, Woolworths and other stakeholders. But not everyone is happy with the fact that they are being asked tough questions and forced to explain themselves in a very public setting.

Aldi’s managing director for buying Jordan Lack, for example, has requested that questions about Aldi’s recent profitability given to the ACCC be done as part of closed door sessions and not broadcast.

Three Aldi executives from the family-owned German supermarket chain appeared before the ACCC on Monday and were questioned about Aldi’s sales and profits by counsel assisting the inquiry Naomi Sharp.

Lack was asked by Sharp about Aldi’s before-profit results for 2023 and 2024 – which are yet to be published on the Aldi website, whereas similar financial results for 2022 and 2021 have been published.

 

Lack requested Sharp that the discussion about Aldi’s recent financial performance be taken privately and that the live broadcasting of the ACCC inquiry be suspended.

However, ACCC deputy chair Mick Keogh pushed back asking Aldi’s legal representative to explain why they were objecting to answering financial questions publicly.

The lawyer responded that given Aldi was a private company, it felt it was necessary to discuss these matters in a closed hearing due to confidentiality concerns about matters not currently on the public record, according to The Australian.

 

While Woolworths executives will be subjected to the same public questioning on November 18-19, followed by Coles on November 21-22, Coles chairman James Graham on Tuesday lashed out at politicians for ‘politicising’ the cost-of-living crisis to attack supermarkets.

He also strongly defended Coles who, along with Woolworths, have been taken to Federal Court by the ACCC in over claims it offered “illusory” or “fake” discounts on hundreds of products. Graham argued that Coles was offering “genuine” discounts at its stores.

The hearings are a part of the inquiry commissioned by the government last year for the ACCC to investigate Australia’s $120 billion supermarket sector. The final report for the inquiry is due to be provided to the government by 28 February 2025.