Woolworths, Coles Face Possible Fines Under Tougher Grocery Code

Woolworths Group Ltd., <-rte-company state="{"_id":"00000190-4514-d497-a7fb-ed1d25650001","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">Coles Group Ltd. and other major Australian supermarkets will face potential multimillion dollar fines for anti-competitive behavior under a government push to crack down on unfair prices and the rising cost of living.

Any supermarket with annual sales of more than A$5 billion ($3.3 billion) must adhere to a strengthened Food and Grocery Code of Conduct, Treasurer <-bsp-person state="{"_id":"00000190-4514-d497-a7fb-ed1d25670000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Jim Chalmers said in a statement Sunday. The penalty for a serious breach will either be A$10 million, three times the benefit gained from the behavior, or 10% of annual revenue — whichever is the greatest.

The new measures ...