Australian retail giant Coles Myer has reported a first-quarter sales rise of 7.3% in line with market forecasts.
The company posted sales for the 13 weeks ended 27 October up to A$6.3bn (US$3.5bn) from $5.9bn a year ago, and attributed the rise to market share gains and better margins. Comparable store sales were up 4.2% in the first quarter. First-quarter sales in the company’s food and liquor division rose 7.3% to $4.0bn, compared to a growth of 8.6% in the fourth quarter of the last fiscal year.
Go deeper with GlobalData
CEO John Fletcher told a teleconference that he expected higher sales than last year in the important Christmas season, reported Reuters.
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
