Mixed Opinions Around Coles Group (ASX: COL)
Coles Group is Australia’s second-largest supermarket chain, behind Woolworths. The share price cratered following a disappointing trading update on the company’s planned automated fulfilment centres. The company’s Full Year 2023 financial results were satisfactory but failed to reignite the share price. Coles Group operates more than 840 supermarkets, 950 liquor stores and online sites. Over…
Coles’ half year profit slips 2.0 per cent
SYDNEY, AAP – Supermarket giant Coles has posted a 2.0 per cent drop in half year profit to $549 million, hit by higher costs due to the COVID-19 disruptions, and expenses of its transformation projects. Sales for the 27-week period to January 2 rose 1.0 per cent to $20.79 billion. Comparable sales also rose 1.0…
