The chain that owns Pak'nSave, New World and Four Square denies it's making excessive profits
The chain that owns Pak'nSave, New World and Four Square denies it's making excessive profits
21 April 2022
The Consumer Price Index is due out this morning, and is expected to show a seven percent increase in prices over the past year.
Foodstuffs CEO Chris Quin says supermarkets in this country make about the same profits as the rest of the world.
He says the company is trying to buy well but for example, it's now paying 30 percent more for tomato sauce than last month.
Quin says they'll do all they can to minimise the impact on customers, but you can't soak all of that up.
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