Woolworths and Coles shares fall amid Australia Day merchandise debate

  • Investing.com
  • Stock Market News
Woolworths and Coles shares fall amid Australia Day merchandise debate
Credit: © Reuters.

SYDNEY - In a contentious move that has drawn criticism from political figures, Woolworths and Aldi have decided not to stock Australia Day merchandise, resulting in a 4.47% drop in Woolworths' share value today. The decision comes amid a broader economic downturn and scrutiny over supermarket pricing practices. Coles, which continues to sell Australia Day items, also experienced a decline in shares by 5.03% today, suggesting that broader market trends may be influencing stock prices.

The debate over the meaning of Australia Day has intensified, with figures like Craig Kelly and Peter Dutton voicing their disapproval of the supermarkets' decision to halt sales of related merchandise. Investors and consumers alike are closely monitoring the situation, as the debate over Australia Day continues to influence both public discourse and market dynamics.

The market is watching to see how these developments will play out in the coming days, especially as the holiday approaches and discussions around it evolve.

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