SYDNEY, June 29, 2026, 04:09 AEST
- Woolworths Group Ltd ASX:WOW gained 5.0% across the five sessions to June 26, while the S&P/ASX 200 (INDEXASX:XJO) slipped 0.7%.
- The ACCC will begin monitoring new supermarket excessive-pricing rules on July 1. The present revenue threshold covers only Woolworths and Coles Group Ltd ASX:COL.
- Woolworths’ fiscal 2026 fourth quarter ended on June 28. The company will report full-year results on Aug. 26.
The ASX cash market was yet to open for pre-trade. Brokers may start entering orders from 07:00 Sydney time, with regular trading beginning at about 09:59:45. Woolworths Group Ltd ASX:WOW last closed at A$40.24 on Friday, gaining 0.75% for the day.
Woolworths gained 5.0% from its June 19 close this week, outpacing Coles Group Ltd ASX:COL, Metcash Ltd ASX:MTS and the S&P/ASX 200 (INDEXASX:XJO), even as supermarket pricing pressures came to the fore.
The timing is key. Woolworths’ F26 fourth quarter closed on June 28, just days before the Australian Competition and Consumer Commission began enforcing the excessive-pricing law on July 1. The Aug. 26 results will wrap up the last year before the law; initial F27 commentary may be more relevant for price-risk models than the F26 profit figures.
Five-day changes use closing prices from June 19 and June 26 for the stocks listed, and the ASX’s weekly close for the benchmark. The peer group is relevant as the ACCC says the existing revenue test applies only to Coles and Woolworths.
| Security/index | June 26 close | June 26 move | Five-session move | Investor read |
|---|---|---|---|---|
| Woolworths Group Ltd ASX:WOW | A$40.24 | +0.75% | +5.0% | Bids steady ahead of pricing law |
| Coles Group Ltd ASX:COL | A$24.41 | +1.45% | +3.2% | Still within ACCC revenue review |
| Metcash Ltd ASX:MTS | A$3.00 | -1.64% | -5.7% | IGA supplier dropped after FY26 report |
| S&P/ASX 200 (INDEXASX:XJO) | 8,764.2 | +0.18% | -0.7% | Broader market trailed consumer stocks |
The law is specific but strict. The ACCC said it covers only major supermarket chains with annual revenue over A$30 billion, now just Woolworths and Coles. There is no set price floor; the regulator will assess supply costs, reasonable margins, pricing data, sales revenue, and feedback from shoppers and suppliers.
ACCC Acting Chair Catriona Lowe said grocery prices remain a major concern for households. She said the initial focus will be on pricing data from Coles and Woolworths and products where excessive pricing could most affect consumers.
The Treasury detailed the penalties. Breaches face a minimum of A$10 million, triple the benefit gained, or 10% of annual turnover in the last year, whichever is highest.
Woolworths’ sales figures show why the stock hasn’t become a pure regulatory play. In the third quarter, group sales increased 4.5% to A$18.1 billion. Australian Food sales rose 5.9%, while Woolworths Food Retail sales climbed 7.3% excluding tobacco. The company said average prices dropped from a year ago because of price investment.
Chief Executive Amanda Bardwell described the plan as “making every dollar count.” In April, Woolworths said it still expects mid-to-high single-digit F26 Australian Food EBIT growth, but no longer at the upper end. Q4 results have been affected by fuel expenses and customer price support.
Metcash weighed on the grocery sector from the other side. The IGA wholesale owner said its large-store price gap narrowed to 2.1%. It posted a 1.5% drop in FY26 NPAT and a 1.9% rise in group sales in the first seven weeks of FY27. Shares fell 5.7% over the five sessions to June 26.
Ray Steinwall, adjunct professor at UNSW Law, said the law will be “difficult to enforce” since it’s hard to link costs and profits to one supermarket product. He said it still signals to Coles and Woolworths that their “pricing practices are under scrutiny.” UNSW Sites
This week, the key question is if the ACCC quickly names which products it will target and if early July price cuts affect the same Australian Food segment that pushed Woolworths above A$40. The next scheduled company event is on Aug. 26.
