No, it isn't just referring to dollar value, but to volumes...

No, it isn't just referring to dollar value, but to volumes having decreased as well. Read the quote again.

I agree there would be substitution occurring, probably in two ways:

(a) higher priced branded products to lower priced branded products
(b) branded products replaced in shopping baskets by private label products

I am no expert but on the shelves of WOW, COL and MTS' IGAs, there aren't many private label products for specialised household cleaning such as toilets/bathrooms.

The COL data may not accurately (exactly) reflect what's occurring with PTL sales, but the drop in overall sales volumes is probably a major concern for PTL.

There's no reason to suggest WOW, IGAs, Aldi, FoodWorks and Costco wouldn't be seeing similar declines in cleaning product sales volumes (with the partial exception if one chain has gained market share from others).

Yes, SP recovery today was good.

I like this company, having profitably sold some time ago, but am concerned at how its factory is in Victoria with all the extra taxes and charges the socialist (some might suggest 'communist') Victorian Labor government is loading on companies. The state is broke, with by far the highest net state debt of the six, so further tax rises are inevitable. The decision by Daniel Andrews and Jacinta Allan to disallow new natural gas connections from 1 January 2024 is a disaster for not just households, but industry.