Wesfarmers reports solid sales growth
Tuesday, April 24, 2012/
Coles reported sales growth of 2.7% for the third quarter of the 2012 financial year, despite price deflation.
The result takes full-year sales growth for the supermarket giant to 3.9%.
The Wesfarmers-owned company registered $6.1 billion in food and liquor sales for the quarter – up 4.1% on the previous corresponding period.
Managing director Richard Goyder said he was pleased with the sales given the tough retail environment.
Other retail businesses owned by Wesfarmers were all up for the quarter.
Coles Express’ 626 convenience stores showed healthy sales growth, at 7.9% up for the quarter, and 14% up for the year to date.
Bunnings (4.7%) Officeworks (2.5%) Target (4.4%) and Kmart (1.2%) all had sales growth for the quarter.