Wesfarmers Ltd (ASX:WES) managing director Richard Goyder says it’s wrong to paint Coles supermarkets as the villain in what’s being referred to as the ‘milk wars’.
Mr Goyder says Coles has actually paid more to milk processors, while at the same time the supermarket has been cutting the shelf price of its home brand milk.
Coles cut its home brand milk to $1 a litre in January. Rivals responded by matching the price.
In the first six months of the 2011 financial year, Wesfarmers booked a net profit of $1.2 billion.
