Australian grocery retailer Coles today (31 January) reported an increase in its second-quarter sales, driven by a “record” Christmas.
For the three months to 25 January, sales reached A$8.81bn (US$8.77bn), a 6.7% increase on the same period last year. Comparable food and liquor store sales were up 6.6%.
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Sales from Coles’ convenience stores were up 1.4%; comparable-store sales for the division grew 1.3%.
Coles managing director Ian McLeod said: “The second-quarter result was capped off with a record Christmas sales period for Coles food and liquor, with 15.5m customers coming through our store check-outs during the Christmas week alone.
“Coles succeeded in attracting thousands of new customers to our stores in the lead up to Christmas by offering a broader Christmas range, high quality fresh produce and lower prices. As a result, we achieved double digit headline sales growth in the Christmas week.”
In the first six months of the year, sales climbed 5.9% to A$16.31bn.
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By GlobalDataConvenience store sales were up 1.9% in the first half; comparable-store sales from the chain were up 1.5%. Comparable food and liquor store sales increased 6.3% to A$13bn.
Coles shares edged up 0.8% to close at A$34.03 in Australia trading today.
Click here to view the full earnings release.
