Update: Coles Group Posts Higher Group Sales Revenue in Fiscal Q3

MT Newswires Live
05/01

(Updates to add stock movement in the last paragraph)

Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier, according to a Friday filing with the Australian bourse.

The increase was driven by a 4% growth in the supermarket segment's sales revenue to AU$9.78 billion, per the filing. Liquor sales revenue fell 3.9% to AU$781 million.

The company noted that supermarket sales have stayed broadly stable in the early fourth quarter despite higher input costs, while weaker consumer sentiment in liquor since March is expected to weigh on second-half earnings through reduced cost absorption.

The company's shares rose past 2% in recent Friday trade.

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