Wesfarmers reports continuing sales growth for Coles supermarkets

Posted by AFN Staff Writers on 26th April 2012

Wesfarmers, the publicly-listed parent company that owns the Coles supermarket chain, has announced the supermarket’s 15th consecutive quarter of comparable sales growth.

 The company announced its third quarter retail sales results this week for the period ending 31 March 2012.

 Wesfarmers’ Managing Director, Richard Goyder, said he was pleased with the sales results especially given the relatively tough retail environment.

 Coles’ performance appears to be stronger than rival supermarket chain Woolworths, which announced flat quarterly results last week.

 Coles recorded AU$6.1 billion in sales for the third quarter, up 4.1 per cent on the previous corresponding period. Food and liquor sales were

up 4.6 per cent to AU$19.7 billion for the financial year to date. 

 Comparable food and liquor store sales grew by 2.7 per cent in the third quarter, taking comparable food and liquor stores sales growth for the financial year to date to 3.9 per cent.

 Coles Managing Director, Ian McLeod, said that the supermarket chain saw record fresh produce deflation of approximately 25 per cent in the third quarter, which had a significant impact on reported sales growth.

 On 29 March 2012, Coles opened its 200th supermarket in the renewal format inCarindale,Queensland.