Australian grocery retailer Coles has recorded higher half-year revenues after its fourteenth straight quarter of comparable-store sales growth.
Total sales for the six-month period to the end of December were up 7.3% to A$17.50bn (US$18.75bn). Coles’ food and liquor sales grew 4.9% in the period, to reach A$13.6bn, and convenience stores sales totalled A$3.9bn, a 17% increase on the prior-year period.
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The retailer’s comparable food and liquor store sales grew by 4.4%.
Coles managing director Richard Goyder said given “a relatively tough” retail environment and “widespread deflation”, he was pleased with the groups sales results.
“Our retail businesses continue to work hard to execute strategies that are improving the value and shopping experience of their customers,” Goyder said.
“Coles reported its fourteenth straight quarter of comparable store sales growth with customer numbers and sales units continuing to grow faster than sales,” he added. “This period delivered a record- breaking Christmas, with Coles achieving its biggest ever sales week.”
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By GlobalData
