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Daniel Munoz - 1 Australia's - 1 Coles - 1 Nausheen Thusoo - 1 Sameer Manekar - 1 Krishna Chandra Eluri - 1 Matthew Lewis - 1 Gerry Doyle - 1
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Search resuls for: "Coles Group Ltd"


7 mentions found


☆ Australia's Coles annual profit misses estimates; shares slip
  + stars: | 2023-08-22 | by ( Nausheen Thusoo | ) www.reuters.com   time to read: +2 min
A woman walks in the fruit and vegetables section at a Coles supermarket in Sydney, Australia, February 20, 2018. Coles flagged modest supermarket sales for early fiscal 2024 alongside early signs of customers shifting from out-of-home dining. Shares of Coles Group Ltd (COL.AX) are down 3.8 % at A$16.63 as at 0002 GMT, making it one of the top losers on the benchmark. Coles' higher profit comes on the back of higher supermarket sales, which help offset flat liquor sales revenue for the year. The supermarket division, Coles' biggest revenue-generating segment, incurred A$36,746 million revenue during the year, 6.1% higher than a year ago.
Persons: Daniel Munoz, Australia's, Coles, Nausheen Thusoo, Sameer Manekar, Krishna Chandra Eluri, Matthew Lewis, Gerry Doyle Organizations: Coles, REUTERS, cps, Australia's Coles, Jefferies, UBS, Coles Group Ltd, Thomson Locations: Sydney, Australia, Melbourne, Bengaluru
☆ Record retail theft puts pressure on Australian supermarket giants
  + stars: | 2023-03-02 | by ( Byron Kaye | ) www.reuters.com   time to read: +2 min
SYDNEY, March 2 (Reuters) - Retail theft has hit record levels in Australia, government statistics show, putting pressure on grocery giants Woolworths Group Ltd (WOW.AX) and Coles Group Ltd (COL.AX) that are already struggling with soaring supply costs and freight blockages. Queensland, Australia's third-largest state, had the highest monthly rate of shop stealing on record this January, according to publicly available police data. Neither state's data specified which retailers reported theft. That may impact profit at Woolworths and Coles, which together ring up two-thirds of Australian grocery sales and noted rising store theft in trading updates last month. Supermarkets refer to goods lost to theft, expiry or payment error as stock losses.
☆ Australian grocer Woolworths says inflation is spurring in-home dining
  + stars: | 2023-02-21 | by ( Byron Kaye Sameer Manekar | Byron Kaye | Sameer Manekar | ) www.reuters.com   time to read: +2 min
Woolworths and smaller rival Coles Group Ltd (COL.AX) have experienced wild swings in Australian consumer behaviour since COVID-19 lockdowns in 2020 sparked grocery stockpiling. As with Coles' interim result reported on Tuesday, the Woolworths profit gain was helped by a sharp decline in COVID-19 related expenses. Woolworths shares were up 2% by midsession, against a 0.3% dip in the broader benchmark(.AXJO), as analysts cheered the prospect of profit margin growth at a company exposed to rising supply costs. "Momentum in the key Australian Food business remains solid, with sales growth rates better than expected in early 2H23," E&P Financial retail analyst said Phillip Kimber in a client note. Woolworths declared an interim dividend of 46 Australian cents per share, compared with 39 Australian cents a year earlier.
☆ Australia's Coles sees shoppers tightening wallets after first-half profit jump
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: +2 min
Feb 21 (Reuters) - Australian grocer Coles Group Ltd (COL.AX) on Tuesday posted a 17% jump in first-half profit and forecast cost pressures would ease in the second half, but the country's No. 2 grocer warned that shoppers may cut spending as higher interest rates bite. Net profit after tax for the six months ended December rose to A$643 million ($444 million) from A$549 million reported a year ago. Cole's cost reduction program, Smarter Selling, brought savings of about A$100 million in the first half, while COVID-19 related costs dropped to A$20 million from A$150 million a year ago. Separately, Coles said it has promoted Leah Weckert to chief executive officer from May 1 to replace Steven Cain, who is retiring.
☆ Chip dip: Australia's Woolworths says floods are hurting potato crops
  + stars: | 2022-11-03 | by ( Byron Kaye Harshita Swaminathan | Byron Kaye | Harshita Swaminathan | ) www.reuters.com   time to read: +2 min
read moreIt also shows Woolworths' grocery dominance being challenged: its September quarter sales showed higher inflation than at Coles, which reported results on Oct. 26, while Woolworths food sales went backwards compared to higher supermarket sales at Coles. In the same period, Australian food prices for Woolworths rose 7.3%, compared to 7.1% at Coles. Woolworths food sales were below consensus forecasts and Coles "appears to have closed the sales gap somewhat", Jefferies analysts said in a research note. Australian food sales "did not improve ... despite rising inflation", UBS analysts noted. Including all divisions such as discount department store and its business-to-business unit, group sales rose 1.8% to A$16.4 billion, Woolworths said, roughly in line with analyst forecasts.
☆ Australia's Woolworths sales rise on higher prices, grocery demand stumbles
  + stars: | 2022-11-02 | by ( ) www.reuters.com   time to read: +2 min
Nov 3 (Reuters) - Australia's biggest supermarket chain Woolworths Group (WOW.AX) said on Thursday first-quarter sales rose 1.8% as higher shelf prices and strength in its wholesale business offset a slowdown in grocery demand. Last week, rival Coles Group Ltd (COL.AX) CEO Steven Cain said cost-of-living pressures were changing customer behaviour. Total group sales for Woolworths rose to A$16.36 billion ($10.39 billion) in the first quarter and narrowly beat a Jefferies estimate of A$16.33 billion. The country's heavily populated east coast experienced flooding earlier this year, worsening cost-of-living pressures. read moreWoolworths' topline growth was also helped by its Australian business-to-business segment, where sales rose 26% to A$1.20 billion.
☆ Australia's Coles flags climate challenge as floods push up inflation
  + stars: | 2022-10-25 | by ( Byron Kaye | Harshita Swaminathan | ) www.reuters.com   time to read: +3 min
2 grocer Coles Group Ltd flagged climate change as its next big operational challenge on Wednesday as floods pushed up prices in the first quarter, lifting sales revenue but squeezing the farming supply chain. Coles shares fell 3% by mid-session, against a flat overall market, as analysts weighed the impact of inflation, which economists also blame on soaring energy prices, on profit growth. Shares of larger rival Woolworths Group Ltd, which reports September quarter sales on Nov. 3, were also down 3%. At its annual meeting, Woolworths CEO Brad Banducci said inflation remained a concern and the company expected the operating environment to remain challenging. With Australian inflation at a 32-year high of 7.3% in the September quarter, Coles CEO Cain said cost of living pressures were changing customer behaviour, with lower-income shoppers buying less fresh produce and more canned goods, and “catering in bulk” to reduce food waste.
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