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Highlights
- Coles' shares last exchanged hands at AU$16.61, down 0.42% on ASX today (28 September).
- The company’s shares have underperformed the ASX 200 Consumer Staples index today.
Shares of leading Australian retailer Coles Group Limited (ASX:COL) closed in the red zone today (28 September).
The food and staples retailer's shares last exchanged hands at AU$16.61, down 0.42% on ASX today (28 September).
Why did Coles shares close in red?
It seems that the decline in Coles' share price is because of the overall consumer staple market as S&P/ASX 200 Consumer Staples index closed at 12,466.30 points, down 45.20 points or 0.36% today.
Sectorally, consumer staples was one of the worst performing sectors today alongwith IT, consumer discretionary and materials sectors.
Take a look at Coles' recent Sustainability Report
The Coles Sustainability Report, which details the advancements made by the company during the first full year of the new Sustainability Strategy it established in 2021, was released last Wednesday (21 September).
The company said in an ASX filing that the necessity of strong governance over sustainability performance is truly understood and taken into account at the highest levels of the organization.
Coles states in the report that one of its goals is to operate Australia's greenest supermarket.
In collaboration with dairy farmers, Coles also invests directly in farm-related sustainability programmes through the Coles Sustainable Dairy Development Group (CSDDG). The CSDDG has allocated AU$2.18 million to various farm projects.
According to Coles, it adheres to the regulations for country-of-origin labelling, making it simpler for customers to determine where a product is from.
Image Source: © Inganielsen | Megapixl.com
About Coles
Coles is a retailer that sells goods via its supermarkets, liquor stores and online shopping platforms. Coles sells different items, including fresh food, groceries, and alcohol. Coles also acts as a commission agent for retail fuel sales through the Coles Express network, thanks to its partnership with Viva Energy.
Stock performance: In the last one month, Coles' shares have decreased by 3.93% and more than 7% in the previous six months. However, the shares are trading almost the same price as one year back. The shares have gone down just 0.12% in the last one year.
