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Coles Group Releases 2020 First Quarter Sales Results

  • October 29, 2019 01:09 PM AEDT
  • Team Kalkine

The Australian retailer, Coles Group Limited (ASX: COL) released its 2020 First Quarter sales results, with sales increase across all segments as Supermarkets delivered a 48th consecutive quarter of comparable sales growth.

  • Group first quarter sales revenue increased by 1.8% to $8.7 billion;
  • Liquor comparable sales was up by 0.7% with strong performance in First Choice;
  • This was the first quarter of positive comparable fuel volume growth in four years;
  • The Company is in an Agreement with renewable power generation player Metka EGN to secure three new solar power plants to provide 10% of Coles’ national electricity usage, the first deal of its kind to be made by a major Australian retailer.

At 1:01 PM AEST on 29 October 2019, COL was trading at $14.905, up by 2.37%.

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