Australia’s second largest supermarket group Coles has posted a strong increase in first half sales as its turnaround efforts continue to pay off. Coles supermarket business booked revenues of A$15.16bn in the six months to 31 December, up 3.7% compared to A$14.62bn for the half-year of last year. Speaking during a conference call with analysts, Wesfarmers chief executive Richard Goyder said that the turnaround at Coles was “on track”. Detailing the supermarket operator’s... ...Read more »

Australia’s two largest supermarket operators, Woolworths and Wesfarmers, have been listed in the world’s top 30 retail companies, according to the Deloitte Global Powers of Retailing 2010 report. The report, which identifies the 250 largest retailers by revenue for the fiscal year 2008 (encompasses fiscal years ended through June 2009), lists Woolworths in 26th position and Wesfarmers in 28th position. The two ASX-listed giants get the bulk of their revenue from supermarkets although... ...Read more »

Woolworths, Wesfarmers and Lion Nathan have been among the big winners when it comes to brand value gains over the past year, with Woolworths claiming top spot as Australia’s most valuable brand owner. The research by Brand Finance showed half of the top ten most valuable brands were indeed companies with strong links to the food and beverage sector. Beyond Woolworths, Coles owner Wesfarmers, soft drink maker Coca-Cola Amatil and brewers Lion Nathan and Foster’s made the top ten. Wesfarmers,... ...Read more »

The boss of the owner of Coles is not fearful of an expansion of Aldi to the west despite the discount grocer managing to gain a foothold in the eastern states. Wesfarmers Managing Director Richard Goyder told The Sunday Times that the competition would be welcomed by Coles, where their turnaround plan is gathering momentum. “I’ve always advocated that competition is good because if you’ve got competition you get better outcomes for consumers and from a business point of view you... ...Read more »

The owners of Australia’s two largest supermarkets are among the most respected by their peers, according to new research. Woolworths and Wesfarmers, the owner of Coles, placed second and third respectively on the BRW Most Respected Companies list. They were edged out by BHP Billiton, however, whose succession planning and sound fiscal management were lauded. The list is unlike many others as it is chosen by senior management of large companies rather than consumers. “They have won admiration... ...Read more »

Wesfarmers, one of Australia’s largest companies and owner of the Coles Group, has reiterated their belief that the Coles acquisition will prove a great buy in the long-term. The underperforming Coles business has begun to show signs of life in the past couple of quarters as the new management team drives efficiency improvements. And, while they are not yet where they want to be, the conglomerate is adamant that their five-year plan is right on schedule. “I do want to reaffirm the Board’s... ...Read more »

Former WA Premier Alan Carpenter has taken on a senior position with Australian conglomerate Wesfarmers just over a year after losing the state election and raising the ire of the firm for his stance against deregulated trading hours. The owner of Coles advised today that Mr Carpenter would assume the position of Executive General Manager for Corporate Affairs. Chief Executive Richard Goyder appears to have put his disappointment with Mr Carpenter’s policy against deregulated trading hours... ...Read more »

Wesfarmers has reaffirmed to investors that the Coles turnaround is progressing as planned in their annual shareholder review. Chairman Bob Every said that, long-term, the company was confident that the oft-maligned Coles business could match it with the best retailers in the world, not just Australia. “It has been particularly pleasing to see the Coles, Kmart and Officeworks turnarounds gathering momentum,” he told shareholders. “The opportunity for Coles is not simply to move... ...Read more »

Archie Norman’s role with Wesfarmers has been expanded beyond his current position as a consultant on the Coles turnaround, the conglomerate explained today. The man credited with reviving the flagging fortunes of UK retailer Asda in the nineties will take on the position as an advisor to the Board on retail issues. His current role as a consultant has seen him instrumental in luring a number of experienced retail executives to Coles from Britain. Wesfarmers Chairman Dr Bob Every said the appointment... ...Read more »

Wesfarmers has announced a net profit after tax of $1.535 billion – up 44 per cent – as their Coles turnaround gathers momentum. The WA-based conglomerate, owner of the Bunnings and Coles Group stores as well as coal and fertiliser assets, said that their supermarket chain had met expectations with increasing customer numbers and basket growth. Managing Director, Richard Goyder, believed the result was strong given the economic conditions that confronted the group throughout the year. “At... ...Read more »