Australian retailer Coles Myer has posted a 24% rise in third-quarter sales, boosted by its discount fuel offer.

The company said sales were A$8.0bn (US$5.5bn) in the third quarter to 25 April, compared to $6.47bn in the same quarter of the previous year. The result beat analysts’ expectations of 20-22% growth, reported Dow Jones News.

Coles Myer’s main food, liquor and fuel business posted sales growth of 34% to $5.58bn as it expanded its fuel discount scheme and sped up its rollout of Coles Express fuel and convenience store outlets. The company opened 241 Coles Express outlets in the third quarter, bringing its total to 598.

Same-store sales growth was 5.1% at the food and liquor unit, excluding fuel and convenience sales.

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.