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

Credit: REUTERS/DANIEL MUNOZ

Coles Group, 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.

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))

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