Metcash Ltd

MTS: XASX (AUS)

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Metcash: Independents Underperforming Majors in Food, but Outperforming in Smaller Liquor Business

Johannes Faul

Nov 11, 2025

Growth in Metcash's wholesale sales to supermarkets, a proxy for its IGA network's performance, is lagging major supermarkets. Momentum is strongest at Coles, followed by Woolworths. However, Metcash's liquor wholesale sales suggest independents have an edge over the big chains now.

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Metcash Ltd

Metcash: Independents Underperforming Majors in Food, but Outperforming in Smaller Liquor Business

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