Australian Supermarkets 'Are Good Place to Hide' Right Now -- Market Talk

Dow Jones05-04 06:11

2211 GMT - Supermarkets are a good place for investors in Australia to hide in the current environment. That is Jefferies's view in the aftermath of sales updates from Coles and Woolworths. Coles's supermarket sales were as expected in 3Q. Its growth still lags Woolworths, but the gap is closing, analyst Michael Simotas says. He also notes a very different message to Woolworths on margins. "Definitive margin commentary is rarely provided in sales updates, but rhetoric suggests Coles will remain rational on price as inflation builds and the impact of direct cost impost (including fuel) to date is modest," Jefferies says. It favors Coles over Woolworths on valuation grounds. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 03, 2026 18:11 ET (22:11 GMT)

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He also notes a very different message to Woolworths on margins. \"Definitive margin commentary is rarely provided in sales updates, but rhetoric suggests Coles will remain rational on price as inflation builds and the impact of direct cost impost (including fuel) to date is modest,\" Jefferies says. It favors Coles over Woolworths on valuation grounds. 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