AUS: Coles sets out three-year expansion plan
Coles gained more ground on Woolworths in 2013
Coles, Australia's second-largest grocer, plans to open 70 stores over the next three years.
A spokesperson for Coles told just-food the retailer is spending A$1.1bn (US$1bn) on the project. The new outlets will lead to 8,000 new store roles, he added.
At the end of 2013, Coles had a total of 762 supermarkets and 637 Coles Express outlets.
Two weeks ago, Coles booked a near-11% rise in half-year earnings after its underlying sales growth quickened in its second quarter.
Coles announced last month MD Ian McLeod would be moving to a position within parent company Wesfarmers, the Australian conglomerate, after six years in the role.
McLeod revitalised the business, with Coles gaining ground on larger rival Woolworths Ltd.
At the end of 2013, Coles' share of the Australian grocery sector stood at 33.5%, compared to Woolworths' 39%, according to local industry analysts Roy Market Research. The analysts said Coles had narrowed the gap to Woolworths and had seen its market share grow to its highest level since March 2008.
McLeod succeeded by Coles COO John Durkan. Both men will formally take their new roles in July.
2007-2010 was a period of rapid growth and acquisitions for Australian United Retailers Limited, so much so that the company found it hard to adjust. Its appetite for growth over the forecast period w...
Drinking milk products is growing by 4% in current value terms in 2013 up from the 3% growth experienced in 2012. Most of this growth is coming from categories outside of the mainstay of cow’s milk, t...
Introduction Food Retail in Australia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The p......
Canadean's "Sino Grandness Food Industry Group Ltd - Company Capsule" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, m...
- Focus: Why ABF is making bread better-for-you
- Why China was central to Nestle executive change
- Comment: How dairy can leverage nutrition
- Comment: Act now to cut antibiotics in meat
- Focus: Delivering dairy to Indian consumers
- Russia "likely to extend food embargo"
- Oreo, gum propels Mondelez in China
- Kerry benefits from snacking trends
- First Milk to cut jobs, milk prices
- Nestle launches Gerber Lil' Bits
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Global Seasonings, Dressings & Sauces Market: Merger and Acquisitions February 2015
- Associated British Foods plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
- Food and beverage packaging today – what’s next?
- North America Food & Beverage Stabilizers and Systems Market – Analysis and Forecast upto 2019