The First Quarter Retail Sales Results showed 7.4 percent growth in headline convenience store sales, while the comparable store basis jumped 3.2 percent, bolstering otherwise poor performance with ongoing investments inconvenience shop offers such as the improvements in the food-to-go and EveryDay Value promotions. Wesfarmers managing director Richard Goyder said Coles food and liquor group fared much better, with 2.9 percent growth in headline sales for the quarter, year-on-year. With sales for the quarter up to $7.9 billion, comparable food and liquor sales increased 1.8 percent and food store sales increased 1.7 percent, with price deflation reduced to 1.0 per cent.
Key Takeaways:
- Wesfarmers has recorded a weakened first quarter for its Coles Express convenience group, with a 13.7 per cent drop in sales year-on-year.
- Released yesterday, the First Quarter Retail Sales Results showed 7.4 per cent growth in headline convenience store sales, while the comparable store basis jumped 3.2 per cent
- Coles Express sales for the quarter, including fuel, were $1.549 billion, a 13.7 per cent drop on the first quarter 2016 ($1.795 billion) that was attributed to lower fuel volumes and lower fuel prices.
“Our ambition to be Australia’s best food retailer means that we will continue to invest in improving our customer offer year-after-year to deliver sustainable long-term growth.”
http://c-store.com.au/2016/10/26/coles-express-takes-hit-first-quarter-sales/
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