Australia's Coles Group Q1 supermarkets same store sales growth slows

[BENGALURU]Australia's second-largest grocery chain Coles Group on Tuesday reported a 1.6 per cent rise in quarterly sales at its supermarket unit, but comparable sales growth slowed as the boost from a wildly popular promotional campaign wore off amid stiff competition.

The supermarket business, which accounts for most of the group's earnings, posted sales of A$7.71 billion (S$7.18 billion) in the 13 weeks ended Sept 29, compared to A$7.59 billion a year earlier.

However, same-store sales growth at the supermarket division was just 0.1 per cent, compared to a growth rate of 5.1 per cent for the same period last year.

REUTERS