Oct 28 (Reuters) - Australia's second-largest grocery chain Coles Group (COL) on Tuesday reported a 1.6% rise in quarterly sales at its supermarket unit, but comparable sales logged a steep fall 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 ($5.27 billion) in the 13 weeks ended Sept. 29, compared to A$7.59 billion a year earlier.
However, same-store sales at the supermarket division plunged to 0.1% from 5.1% posted last year.
($1 = 1.4622 Australian dollars)
News: COL Australia's Coles Group Q1 supermarkets same store sales slides
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$23.97 |
Change
0.090(0.38%) |
Mkt cap ! $32.15B | |||
| Open | High | Low | Value | Volume |
| $23.77 | $24.06 | $23.67 | $37.00M | 1.545M |
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