Posted 10/17/2023, 7:23:20 PM
Metcash Faces Slowing Sales Growth, Market Share Losses as Pandemic Tailwinds Fade
- Metcash sales growth slowing as temporary pandemic gains unwind, downgrade fiscal 2024 EPS forecast 5%
- IGA continues losing market share, but hardware sales steady versus Bunnings
- Sales of tobacco, a key category, weighed down by illicit trade and declining smoking
- Spending on essentials resilient but value-focused model exposed as consumers trade down
- Liquor sales growth accelerated recently but still cut fiscal 2024 sales growth view to 3% from 4%