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Tex Edwards: MonopolyWatch spokesperson on Woolworths slashing 70 percent of value from NZ supermarkets

EPISODE · Jan 29, 2024 · 5 MIN

Tex Edwards: MonopolyWatch spokesperson on Woolworths slashing 70 percent of value from NZ supermarkets

from Best of Business · host Newstalk ZB

Woolworths is slashing the value of its New Zealand supermarkets by $2.3 billion to $700 million in a 70 percent decrease. The company blames a 'weaker medium-term outlook' and higher interest rates for this decision. MonopolyWatch spokesperson Tex Edwards says this announcement is a PR stunt to push back against a wave of inquiries. "You publish bad news before the Commerce Commission and the board members and the lobbyists start to come down." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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Tex Edwards: MonopolyWatch spokesperson on Woolworths slashing 70 percent of value from NZ supermarkets

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