Coles Sets Aside A$20 Million After Revealing It has Underpaid Its Managers

Coles Sets Aside A$20 Million After Revealing It has Underpaid Its Managers
File photo of a Coles supermarket in Sydney, Australia. Janita Kan/NTD
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Supermarket giant Coles is the latest major retailer in Australia facing an underpayment scandal, with the company expecting a $20 million hit after underpaying managers at its supermarkets and liquor division during the past six years.

The update came as the company met its upgraded first-half retail expectations, with Coles’ adjusted $725 million earnings figure confirming a strong Christmas period and a vastly improved second-quarter performance.