Coles Group Provides Trading Update; EBIT to Range Between $710 Million And $730 Million

  • Feb 06, 2020 AEDT
  • Team Kalkine

Coles Group Limited (ASX: COL) has released its trading update for 27 weeks from 1 July 2019 till 5 January 2020.

In Q1 FY2020, Coles reported that in the early part of the 2Q FY2020, Supermarkets comparable sales growth had moved towards the point attained in Q4 of FY2019.

COL’s provisional 1H FY2020 Group EBIT is expected to range between $710 million and $730 million. The sales outcome was satisfactory, however Liquor EBIT in the 1H FY2020 declined as compared to the previous corresponding period due to margin pressure and was influenced by clearance and promotional activity after the initiation of strategic range reviews.

 

 

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