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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
Watch 0:15

ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

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DIY wreaths using supermarket lamingtons - the Christmas baking hack of the year!

DIY wreaths using supermarket lamingtons - the Christmas baking hack of the year!

Even tougher product limits at Coles and Woolworths as Melbourne enters Stage 4 restrictions

Even tougher product limits at Coles and Woolworths as Melbourne enters Stage 4 restrictions

ANZAC Day trading hours: When Woolworths, Coles and Aldi are open

ANZAC Day trading hours: When Woolworths, Coles and Aldi are open

Urgent recall: Popular brand of juice pulled from shelves at Coles and IGA due to mould contamination

Urgent recall: Popular brand of juice pulled from shelves at Coles and IGA due to mould contamination

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Breaking: Coles is the first supermarket to lift coronavirus buying restrictions on toilet paper

Breaking: Coles is the first supermarket to lift coronavirus buying restrictions on toilet paper

Coronavirus flash sale: Coles reduces meat to as little as $1 in some stores

Coronavirus flash sale: Coles reduces meat to as little as $1 in some stores

Breaking: 3 hot new foods in Aldi, Coles & Woolworths right now

Breaking: 3 hot new foods in Aldi, Coles & Woolworths right now

{headline}

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Must-see video: Family sets up mini Coles supermarket at home so 87-year-old mum can do her weekly shop in isolation

Must-see video: Family sets up mini Coles supermarket at home so 87-year-old mum can do her weekly shop in isolation

New coronavirus trading hours: When Coles, Woolworths and Aldi are open this Easter long weekend

New coronavirus trading hours: When Coles, Woolworths and Aldi are open this Easter long weekend

Breaking: Coles & Woolworths announce drastic new policy to limit numbers of customers in stores

Breaking: Coles & Woolworths announce drastic new policy to limit numbers of customers in stores

Breaking: Coles slashes price of mince for a limited time

Breaking: Coles slashes price of mince for a limited time

Breaking: Woolworths & Coles announce huge changes to weekly specials catalogues

Breaking: Woolworths & Coles announce huge changes to weekly specials catalogues

Breaking: Coles releases statement on why they didn't close stores after workers test positive for coronavirus

Breaking: Coles releases statement on why they didn't close stores after workers test positive for coronavirus

Major supermarket chain bans couples from shopping together - will Coles & Woolworths follow suit?

Major supermarket chain bans couples from shopping together - will Coles & Woolworths follow suit?

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BREAKING: Coles to CLOSE STORES

CEO makes shock announcement - by Amy Sinclair
  • 19 Jun 2019

Coles has announced that it will close stores as part of its efforts to cut $1 billion in costs. 

Chief executive Steven Cain broke the news while announcing wide-sweeping changes to the supermarket giant. 

WATCH: Coles are planning to BAN the use of trollies!

BREAKING: Coles to CLOSE STORES

The Coles boss said that the rising costs of staff wages and energy costs had lead to the plan to close stores. 

And while it hasn’t been announced which locations will close, it’s understood that stores that make the least amount of profit will be targeted. It was also confirmed that Coles will slow the rate at which it opens supermarket in the future. 

The news comes weeks after Coles and Woolworths announced that they be offering less 1/2 price flash sales on their popular items, and would instead be focussing on permanently reducing the prices on everyday items.

The Australian Financial Review reports that the supermarket’s general manager grocery Anna Croft told the Australian Food & Grocery Council’s annual summit that they’d become too reliant on promotions and discounting. 

‘We have to work on how to develop everyday low prices — we have spent 10 years trying to crack this and haven’t done it yet,’ she reportedly said.

‘We know it’s hugely important to customers and we need to do it in a sustainable way and manage the decline [in promotions] over time versus going cold turkey.

‘We’re still working through what that looks like.’

Amy Sinclair
Amy Sinclair
Amy Sinclair is a contibutor for New Idea Food.

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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
Watch 0:15

ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

{headline}

{headline}

DIY wreaths using supermarket lamingtons - the Christmas baking hack of the year!

DIY wreaths using supermarket lamingtons - the Christmas baking hack of the year!

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ANZAC Day trading hours: When Woolworths, Coles and Aldi are open

ANZAC Day trading hours: When Woolworths, Coles and Aldi are open

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{headline}

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Breaking: Coles is the first supermarket to lift coronavirus buying restrictions on toilet paper

Breaking: Coles is the first supermarket to lift coronavirus buying restrictions on toilet paper

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Coronavirus flash sale: Coles reduces meat to as little as $1 in some stores

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{headline}

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Must-see video: Family sets up mini Coles supermarket at home so 87-year-old mum can do her weekly shop in isolation

Must-see video: Family sets up mini Coles supermarket at home so 87-year-old mum can do her weekly shop in isolation

New coronavirus trading hours: When Coles, Woolworths and Aldi are open this Easter long weekend

New coronavirus trading hours: When Coles, Woolworths and Aldi are open this Easter long weekend

Breaking: Coles & Woolworths announce drastic new policy to limit numbers of customers in stores

Breaking: Coles & Woolworths announce drastic new policy to limit numbers of customers in stores

Breaking: Coles slashes price of mince for a limited time

Breaking: Coles slashes price of mince for a limited time

Breaking: Woolworths & Coles announce huge changes to weekly specials catalogues

Breaking: Woolworths & Coles announce huge changes to weekly specials catalogues

Breaking: Coles releases statement on why they didn't close stores after workers test positive for coronavirus

Breaking: Coles releases statement on why they didn't close stores after workers test positive for coronavirus

Major supermarket chain bans couples from shopping together - will Coles & Woolworths follow suit?

Major supermarket chain bans couples from shopping together - will Coles & Woolworths follow suit?

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