2339 GMT - Coles' bull Citi remains optimistic on the Aussie supermarket operator, though analyst Adrian Lemme tells clients in a note that it is tempting to switch to chief rival Woolworths on a mean reversion argument. Lemme writes that Coles should continue to outperform Woolworths in same-store sales for at least the next few quarters, and that there is a good case for Coles to pursue up to A$1.6 billion in capital management in FY 2026. Woolworths will eventually turn things around, but it's going to take time, Lemme writes, noting that Woolworths' recent price cut announcement is unlikely to materially move the needle. (mike.cherney@wsj.com; @Mike_Cherney)
(END) Dow Jones Newswires
June 01, 2025 19:39 ET (23:39 GMT)
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