Conglomerate Wesfarmers Ltd
(ASX:WES) has reported a 4.3 per cent increase in sales for the first quarter.
Total sales for quarter from its retail outlets came to $11.221 billion up from $10.761 billion in the first quarter of last year.
Food and liquor sales at its Coles supermarket chain increased 5.9 per cent with comparable store sales in food and liquor up 6.2 per cent for the three months.
Coles beat rival Woolies who yesterday reported a 2 per cent rise in core food and liquor sales.
Wesfarmers managing director Richard Goyder says he is pleased with the results, headlined by growth in Coles comparable store sales.
Home Improvement sales, which includes the Bunnings Warehouse chain, rose 3.9 per cent in the quarter, its office supplies division reporting 9.1 per cent growth.
Kmart experienced a 3.7 per cent rise in sales for the quarter, Target sales however, fell by 1.4 per cent on the previous quarter.
Wesfarmers reported earnings of $1.56 billion for the 2010 financial year.
