Woolworths and Coles Shares Surge Following ACCC Report

Fri 21 Mar 25, 01:01 AM | Team Kalkine

Image source: Shutterstock

Highlights

Woolworths and Coles shares jumped after the ACCC stated it couldn't confirm if their prices and margins were excessive.

The early rally added AU$2.71 billion (US$1.71 billion) to their combined market value.

ACCC’s report acknowledged high profitability but stopped short of price gouging accusations.

Shares of Woolworths (ASX:WOW) and Coles (ASX:COL) surged on Friday morning following a report by the Australian Competition and Consumer Commission (ACCC), which stated that it could not definitively say whether their pricing and margins were excessive.

Within the first hour of trading, Woolworths' stock climbed 5% to AU$29.53, while Coles rose 3.8% to AU$19.26, making them the top performers on the S&P/ASX 200 index. This early rally added AU$2.71 billion (US$1.71 billion) to their collective market capitalisation.

ACCC Report Findings

The ACCC’s investigation into supermarket pricing found that Woolworths and Coles were among the most profitable global supermarket operators. While the report acknowledged that not all price increases since 2019 were solely due to inflation, it did not accuse the retailers of price gouging.

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