Coles today (23 October) revealed a “solid” first-quarter performance, with sales growth at both the Australian retailer’s supermarkets and convenience outlets.
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The retailer, which is owned by Australian conglomerate Wesfarmers, said total food and liquor sales rose 7.3% during the three months to 27 September. Comparable sales were up 6.1% at the unit, the company told investors at a briefing in Sydney.
The company said that solid volume growth at its food and liquor business was driven by improved customer traction and better fresh quality, with sales of fresh food items seeing double-digit gains.
Coles said that it was able to present a “strong value offer” in the first quarter, with food inflation running flat during the period.
Meanwhile, Coles revealed, convenience sales rose 6.5% during the period, while comparable fuel volumes increased 1.3%.
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By GlobalDataFor the text of the investor briefing click here and click here for Coles MD Ian McLeod’s assessment of the company’s recovery.
