Woolworths
(ASX:WOW) is planning to pressure some suppliers to its supermarkets to adjust prices downwards because of Aussie dollar currency movements.
Chief Executive Michael Luscombe said it is only appropriate that the retailer ask suppliers that increased prices because the Aussie dollar went down, to now decrease their prices because of the strength in the Aussie dollar.
Mr Luscombe said the move is aimed at curbing inflation and being able to offer lower prices to consumers. Woolworths has a history of net profit increases.
