Perhaps he might be a little more understanding of pensioner concerns about cost-of-living increases after reading that Woolworths has higher markups on groceries in Australia because it is established, holds large market share and is a price leader.
The sheer arrogance of Woolies attitude is enough to set even much younger teeth on edge.
In regional areas like the NSW North Coast where lack of competition is marked, this admission of price gouging rankles retirees, old age and disability pensioners.
"Supermarket giant Woolworths has admitted customers pay more for groceries in its Australian stores than in its New Zealand shops.
Woolworths chief executive Michael Luscombe told a national inquiry into grocery prices that competition in Australia and New Zealand is the same, but admitted its mark-ups are higher here than across the Tasman.
Mr Luscombe told the Australian Competition and Consumer Commission (ACCC) inquiry the margins are lower in New Zealand because Woolworths is not the price leader there.
"We may have to sometimes reduce prices further in New Zealand to make money," Mr Luscombe said.
"The business that we purchased in New Zealand is not in the same position (as here)... significant investments still need to be made in New Zealand.
"The issue in New Zealand is we have a very strong competitor who has been very stable for a long time."
Mr Luscombe said Woolworths had built its business up in Australia over 80 years, while its Kiwi arm was much younger.
Woolworths owns three major supermarket chains in New Zealand - Woolworths, Foodtown and Countdown. Its main competitor is New Zealand-owned Foodstuffs.
Mr Luscombe said internal polling showed Woolworths holds 30.77 per cent of the grocery market share in Australia.
The ACCC estimates Woolworths and Coles hold about 80 per cent of the market."
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