What Metcash’s results reveal about the state of food retail

(Source: Bigstock)
Earlier this week, Metcash Group’s chief executive Doug Jones fronted investors to talk through a record year. The business’ underlying profit after tax jumped 4.6 per cent year-on-year to $307.5 million, a 54.7 per cent increase from the same period three years ago. But with Australia already in a ‘retail recession’, and the chances of an economic recession hitting next year being high, Metcash’s FY24 could look quite different from its FY23 results if the changes in customer behaviou

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