Wesfarmers reports ‘solid’ Coles results
Wesfarmers today announced their retail sales results for 2010’s third quarter, with ‘solid’ sales growth in the Coles division.
Coles’ total food and liquor sales cam in at $5.465, up 3.9% on the same time last year, with comparable food and liquor store sales growth of 3.8%. Sales for the financial year to date were $17.684 billion, up 6.1% from last year, with comparable food and liquor store sales growth of 5.3%.
The convenience arm of the business, Coles Express, reported total sales (including fuel) of $1.450 billion during the quarter, up 9.1%. Convenience shop sales were up 3.8% in the quarter, 5.7% in the year to date.
Coles Managing Director Ian McLeod said the solid sales result was pleasing, despite deflation of around 1%.
“Coles is continuing to invest in improved supply chain efficiency, better service and store standards for customers,” Mr McLeod said. “We have introduced easy store ordering to 100 stores and, as part of our plan to improve convenience for customers, we have introduced self check-out to 75 stores across the network.”
The company transferred four supermarkets to FoodWorks during the quarter, closed four supermarkets and seven ‘smaller format’ liquor stores, and opened one new Liquorland and one 1st Choice location.
