Coles and Woolworths share prices have fallen following ACCC legal action against the supermarket giants for allegedly misleading customers over fake discounts. Roger Montgomery from Montgomery Investment Management, says the action by the ACCC confirms to customers that ‘pricing is machiavellian’ and the culture at the supermarkets is ‘rotten’. He says one of the two companies has the opportunity to get the commmunity behind them, but they have to be first to face the public and make changes.
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