Coles Group Fiscal Q3 Results 'Solid,' Disappointment in Liquor Not Overly Material, Jarden Says

MT Newswires Live
05/01

Coles Group (ASX:COL) delivered overall "solid" results for the fiscal third quarter as its own-brand sales in the food segment continued to outperform, Jarden said in a Friday note.

Supermarket sales increased 4% year over year to about AU$9.8 billion, in line with Jarden's estimates, and are also off to a strong start in the fiscal fourth quarter.

However, liquor sales of AU$781 million were down nearly 4% from the prior year and 2% below Jarden's estimate, showing "little sign of any benefit of the re-badge coming through," the equity research firm said.

It added that the disappointment in liquor was not unexpected and is not too material.

Coles Group flagged earnings pressure in the liquor segment for the fiscal second half, but the company continues to execute well, Jarden said, adding that it expects very modest downgrades to consensus forecasts.

Jarden maintained an overweight rating on the company with a target price of AU$21.60.

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10