The owner of Coles today (18 August) hailed the “strong” growth in annual earnings from Australia’s second-largest food retailer.

Australian conglomerate Wesfarmers reported a 21.2% increase in EBIT from its Coles business for the year to 30 June.

Coles EBIT reached A$1.17bn (US$1.22bn) on the back of a 6.9% rise in revenue to A$32.07bn, which Wesfarmers reported last month.

The retailer saw sales from its food and liquor division grow 6.3% to A$23bn. Comparable-store sales increased 6.3%. 

Sales from Coles’ convenience stores sales rose 8.5% to A$6.7bn. Comparable-store sales were up 0.9%.

Wesfarmers said Coles’ earnings reflected the “progress” made on its programme to turn around the business, which started when the company acquired the retailer in 2007.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company said the programme had “built solid sales momentum through significant price investment, an enhanced fresh food offer, operational efficiencies and the progressive renewal of the store network”.