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Woolworths, Coles sued by ACCC for ‘misleading’ price drop claims
(www.smh.com.au)
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this post was submitted on 23 Sep 2024
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Profits have increased as a percentage of revenue (i.e. profit margins have increased).
https://www.abc.net.au/news/2023-02-23/supermarket-profits-surge-as-inflation-spikes-coles-woolworths/102004616
Profit goes brrrrrr
Let's start a non profit supermarket chain
A cooperative is one way to start on that: https://www.abc.net.au/news/2024-07-10/supermarket-alternative-co-ops-save-money/104078660
Their definition sounds like too much work, would be better to pay someone to do the work
I get the joke, but actually...yes. A co-op doesn't mean the people actually doing the work don't get paid. It actually doesn't even mean not-for-profit, just that the people profiting aren't shareholders, but people who actually have a direct stake in the business. That can be a customer-owned co-op, supplier-owned, worker-owned, or some combination of those. Those groups would be the ones making any profit, in a for-profit co-op. And in a not-for-profit worker- or supplier-owned co-op, the workers (including the CEO) and suppliers still get paid—they're just able to be paid more while selling goods for the same price, or paid the same while achieving a lower price, than a non-co-op business would.