‘Clear strategy’: Coles sales soar as customers | Australian Markets

Supermarket giant Coles has introduced bumper sales as Aussies return to the grocery store more typically and with bigger buying baskets.

One of the nation’s largest grocery store chains has revealed normalised earnings of $1.08bn for the 2025 financial yr, up 2.3 per cent as the company returns to normalised 52-week earnings, down from 53 final yr.

According to Reuters, this was beneath market expectations of $1.11bn in earnings for the financial yr.

The rise got here as grocery store sales had been up 4.3 per cent to $40bn for the financial yr, due to an increase in each transactions and basket measurement for buyers.

Coles chief government Leah Weckert stated the outcome was as a consequence of constant deal with the business strategy.

“We were clear that value, quality and availability remained important to our customers,” she stated

“In addition, continuing to manage loss and delivering on our Simplify and Save to Invest commitments remained key to achieving our financial objectives.”

Coles stated customers had responded positively to its discounting on objects as properly as increasing its on a regular basis low costs vary.

Coles stated it had been a robust begin to the new financial yr, with revenues up 4.9 per cent over the primary eight weeks for its grocery store sector, however liquor sales remained flat.

Coles expects to open about 12 new supermarkets and close two on this financial yr. It will renew one other 70 shops.

Shareholders will obtain a remaining dividend of 32 cents per share, the identical as final yr’s remaining dividend, which takes the full-year payout to 69 cents, up from 68 cents a yr in the past.