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Australian retail giant Coles Group (ASX: COL) reported solid third-quarter results, highlighting steady growth in its supermarket division and strong performance in online sales. For the 12 weeks ending March 29, total group revenue increased by 3.1% to A$10.7 billion, reflecting resilience in consumer demand despite ongoing economic pressures.
The company’s core supermarkets segment remained the primary growth driver, with sales rising 4.0% to A$9.78 billion. This performance underscores Coles’ strong market position in Australia’s competitive grocery sector. A notable contributor to this growth was the continued expansion of e-commerce, which saw a significant 24.8% increase during the quarter. Online sales penetration reached 13.6% of total supermarket revenue, driven by rising customer adoption of delivery services and click-and-collect options.
Investor confidence followed the positive earnings update, with Coles shares climbing 2.4% to A$22.65 in early trading. The retailer also observed increased demand for pantry staples in March, partly influenced by global geopolitical tensions, particularly in the Middle East. At the same time, supermarket price inflation showed signs of easing, coming in at 0.8% excluding tobacco, supported by lower fresh produce costs.
However, not all segments performed equally well. Coles’ liquor division continued to face challenges, reporting a 3.9% decline in sales to A$781 million. Comparable sales in this segment dropped 4.3%, reflecting subdued consumer spending and intensified competition in the alcohol retail market.
Looking ahead, Coles indicated that early fourth-quarter supermarket sales trends remain consistent with third-quarter performance. Nevertheless, the company flagged potential risks, including rising fuel, freight, and packaging costs, which could impact margins in the coming months. Overall, Coles’ strong supermarket sales growth and expanding e-commerce presence position it well in the evolving retail landscape.
