Coles (ASX:COL) supermarket sales grow 13% in the quarter

Company News

by Rachael Jones

Coles (ASX:COL) supermarket sales have soared in the third quarter.

They performed strongly in January and February prior to the impact of COVID-19, and achieved comparable sales growth of 13.1 per cent for the third quarter, its 50th consecutive quarter of comparable sales growth.

Liquor was negatively impacted by bushfire smog over capital cities and floods in January and February, before being impacted by COVID-19 later in the quarter.

The impact on sales in Liquor only began to materially elevate in the latter part of March, following the Federal Government’s decision to close hotels, pubs, clubs and licensed venue operators.

The section achieved comparable sales growth of 7.2 per cent for the third quarter.

Shares in Coles (ASX:COL) are trading 2.99 per cent lower at $15.75.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.