Coles's Recent Supermarket Sales Better than Bull Feared
Dow Jones08-25 08:25
0025 GMT - Coles's recent supermarket sales look better than Citi feared. Coles said sales growth in the first eight weeks of FY27 was consistent with what it achieved in 4Q, which was 3.8% when tobacco is excluded, or 3.3% on a comparable basis. "We had expected material weakness given the very strong Ooshies promotion from Woolworths that ran for most of this period," says analyst Adrian Lemme. Coles acknowledged that Woolworths's campaign weighed on its sales for a period, but said trends are now back in line with 4Q26. Citi had a buy call on Coles heading into today's annual result. Coles is down 0.3% at A$22.57.
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