Costco, Aldi Take Big Bite of Retail Pie

US warehouse giant Costco and German discount titan Aldi are siphoning off more than $17.5bn in annual sales from Australian-owned retailers, corporate filings reveal, triggering an aggressive fightback from local heavyweights Coles and Woolworths.

A counterstrike from the homegrown supermarket leaders is being fought across key basket items such as chicken, pork chops, sausages, lamb loin, beef mince, milk, soda water and frozen pizza, which has resulted in the price gap between the supermarkets majors and Aldi shrinking to its lowest level in almost three years.....

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