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Grocery giants face the music

When Wesfarmers spun off the Coles part of the business, CEO Rob Scott made no secret of the fact that his company was getting out of the retail food and liquor market because Coles was facing a low-growth future. Scott was mindful of the return on investment from a business that was capital intensive and challenged by new international competitors gaining market share and, if not stealing sales from Coles, then certainly curtailing revenue growth. Announcing last year’s demerger, Scott said t