Finance

Coles boss blasts ‘expensive’ water


Sorry Jen, your water’s too expensive for us.

COLES boss John Durkan has lobbed another blow at Coca-Cola, heralding a potential cutback of its bottled water from supermarket shelves.

Mr Durkan blasted the soft drink manufacturer, which depends the lucrative Mount Franklin range to bolster its bottom line as sales of sugar-laden products wane, for charging Australians more for their products than in overseas grocery markets.

“This is frustrating to me because often the price differences relate to the same product made and sourced from the same place,” Mr Durkan said, vowing to keep investing in lower prices at Coles to appeal to Australians subject to increased living costs.

And he signalled a potential culling of Mount Franklin products in line with action taken by Woolworths last week.

Food producer Heinz was also singled out by the chief executive, who made the comments during a speech at the American Chamber of Commerce on Thursday.

“At a time when incomes are not growing muc…

Read the full article at: http://www.news.com.au/finance/business/retail/coles-boss-john-durkan-blasts-cocacola-for-its-expensive-water/news-story/5eee80dc4290441c88fedf6c49a98985

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