Supermarkets price inflation reduced to 2.2 per cent in the third quarter due to deflation in fresh produce, meat and bakery goods.
third quarter sales rose 3.4 per cent to exceed $10 billion, underpinned by solid 5.1 per cent growth in its supermarkets. Liquor sales fell as shoppers elected to cut back their beer and wine spending.
Coles supermarkets revenue reached $9.1 billion, advancing 5.1 per cent or 4.2 per cent on a comparable sales basis., who was hauled before a Senate inquiry earlier in April along with outgoing Woolworths boss Brad Banducci, said first-half momentum continued into the third quarter, driven by a summer value campaign, Australia Day promotions and Pokemon collectibles.
“We have also seen a meaningful increase in customers interacting with our digital platforms and loyalty programs, which is allowing us to engage on a more personalised basis with these customers.”Supermarkets revenue reached $9.1 billion, advancing 5.1 per cent or 4.2 per cent on a comparable sales basis. Excluding tobacco, revenue increased by 6.6 per cent.
Ms Weckert said the group is addressing increased theft in stores with a “positive trajectory throughout the quarter” after the roll-out of loss technology in 346 stores and smart gates in 286 stores.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Supermarkets inquiry: After Woolies brawls, Coles busts supermarket profit mythsPolitical theatre and business bashing won’t deliver a magic bullet for bringing down grocery prices, because there isn’t one.
Read more »
Live updates: Woolworths and Coles to give evidence at inquiry into supermarket prices, ASX to fallWoolworths and Coles will be grilled over higher prices and rising profits during the cost-of-living crisis at a Senate inquiry in Canberra today, while the Australian share market is set to open lower. Follow live.
Read more »
WOW ASX: Woolworths lowering prices as it tries to catch Coles’ growthA JPMorgan survey of private label products shows the supermarkets giants are competing more aggressively on price, closing the gap with discount retailer Aldi.
Read more »
TEA ASX: Tasmea will list on the ASX with a sharemarket value of $340mStephen Young says he held out for the thawing of the IPO market rather than commit a “breach of faith” by selling to private equity buyers.
Read more »
GNC ASX: ASX activists HMC Capital take aim at GraincorpHMC Capital has revealed a position in Graincorp, marking the group’s fourth public bet from the highly concentrated Capital Partners Fund.
Read more »
ASX 200 LIVE: ASX record run to get second quarter checkAustralian shares are set to reopen after the Easter break following a mixed session in New York. RBA’s Kent to speak. Follow updates here.
Read more »