Australia's Coles posts 10.5% rise in Q1 sales on higher in-house consumption

Credit: REUTERS/DANIEL MUNOZ

Oct 28 (Reuters) - Coles Group COL.AX, Australia's second-largest grocery chain, on Wednesday posted a 10.5% rise in first-quarter sales, as more people ate at home and bought household essentials due to the coronavirus outbreak.

Total sales climbed to A$9.61 billion ($6.85 billion) in the quarter ended Sept. 27, from A$8.70 billion a year earlier.

Coles' supermarket business, which accounts for most of the group's earnings, posted a 9.9% rise in sales to A$8.46 billion.

($1 = 1.4027 Australian dollars)

(Reporting by Nikhil Kurian Nainan and Rashmi Ashok in Bengaluru; Editing by Maju Samuel)

((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN; +91 806 182 2724))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.