Coles has witnessed a slowdown in sales growth during the third quarter, the Australian retailer’s parent company revealed today (22 April).
In its third-quarter trading update, Wesfarmers revealed that total Coles sales, including sales from convenience stores, rose 4.9% to A$6.9bn. Sales from the group’s food and liquor unit rose 3.9%.
Go deeper with GlobalData
The result represented a considerable slowdown in sales for Australia’s second-largest supermarket, which has seen year-to-date sales rise 6.1%.
Coles was also cautious on its outlook for the fourth quarter. The company said that it would be up against a tough comparable for the period, with spending in the year-ago period boosted by the country’s financial stimulus package.
Nevertheless, Coles managing director Ian McLeod said the “solid” sales performance was “pleasing”.
“Coles is continuing to invest in improved supply chain efficiency, better service and store standards for customers,” McLeod said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
