Coles Group Faces Costly Fallout After Court Says ‘Down Down’ Discounts Misled Shoppers
Coles Group Ltd is under increased legal and investor pressure after the Federal Court in Australia ruled that the company’s well-known “Down Down” discounts misled shoppers. The decision weighed on Coles shares and brought extra scrutiny to competitor Woolworths. The timing of the ruling hits as Australia grapples with cost-of-living pressures. According to the Australian Competition and Consumer Commission, the case involves 245 everyday items Coles sold from February 2022 through May 2023. The Federal Court said Coles’ “Down Down” promotions were misleading on 13 out of 14 sample tickets reviewed at the liability hearing, the ACCC reported.