Woolworths Seriously HONEST Statement About Respecting ALDI
Woolworths was initially too relaxed about the threat of German discounter Aldi but that is no longer the case, the supermarket giant's chairman Gordon Cairns says.
Mr Cairns says Woolies' own-brand products now match Aldi's prices, and it has regained its lead in fresh food after allowing quality and service to slip while arch-rival Coles stepped up its fresh produce.
"We were somewhat lackadaisical in responding to the threat from Aldi - that is no longer the case," Mr Cairns said during the group's annual general meeting on Thursday.
"We were the 'Fresh Food People' and then we lost that position - we lost that position because we allowed the quality of our fresh food and execution to deteriorate."
"We didn't treat Aldi with the respect they deserved as a very successful global retailer," Mr Banducci said.
"We have done a lot of work on our own brands."