Coles, Australia’s second-largest retailer, today (20 April) reported sales figures that indicated it had outpaced fierce rival Woolworths Ltd in the most recent quarter.
The retailer, owned by Australian conglomerate Wesfarmers, said Coles’ comparable-store sales from its core food and liquor division rose 7.2% in the three months to 27 March, the company’s fiscal third quarter.
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Last week, Woolworths posted a 3.3% rise in comparable-store sales for the quarter to 3 April, although it claimed it had gained market share.
Coles MD Richard Goyder said the retailer’s results reflected the work the business had put in since Wesfarmers bought the company.
“Coles’ food and liquor comparable store sales growth of 7.2 per cent reflects the encouraging customer response to improvements made throughout the business over the past three years. Coles continues to focus on overhauling the shopping experience, underpinned by genuinely better value and quality fresh food,” he said.
Coles’ comparable-store sales from its food and liquor business accelerated in the third quarter. Over the first nine months of its fiscal year, sales by the same metric are up 6.7%.
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By GlobalDataConsolidated third-quarter sales from Coles’ food and liquor business rose 7.1% to A$5.9bn (US$6.28bn). For the first nine months of the year, they were up 6.6% at A$18.8bn.
Sales from Coles convenience business Coles Express – including fuel – were up 12.1% in the third quarter at A$1.6bn. Year-to-date sales grew 6.6% to A$4.9bn.
Convenience store sales, excluding fuel, rose 2.9% during the third quarter. Comparable-store sales were up 1%.
Over the first nine months of the year, Coles’ convenience store sales, excluding fuel, rose 2.2% and by 1.4% on a comparable-store basis.
Bringing together the food and liquor and Coles Express divisions, Coles sales climbed 8.1% to A$7.48bn in the company’s third quarter. In the first nine months of the financial year, Coles sales were up 6.6% at A$23.79bn.
