Aug 22 (Reuters) - Coles Group Ltd (COL) : Q4 SALES GROWTH OF...

Aug 22 (Reuters) - Coles Group Ltd (COL) :

• Q4 SALES GROWTH OF 8.0% IN SUPERMARKETS AND 2.9% IN LIQUOR
• IN EARLY PART OF FY24, SUPERMARKETS VOLUMES HAVE REMAINED MODESTLY POSITIVE COMPARED TO PCP
• IN SUPERMARKETS, IN FY24, WE EXPECT TO OPEN APPROXIMATELY 15 NEW STORES, CLOSE SIX STORES AND RENEW 50 STORES
• NOT EXPECTING ANY MATERIAL PROPERTY DIVESTMENTS THIS YEAR
• HAVE SEEN EARLY SIGNS OF CUSTOMERS SHIFTING FROM OUT OF HOME DINING
• HEADLINE INFLATION HAS CONTINUED TO MODERATE WITH FRESH PRODUCE CATEGORY REMAINING IN DEFLATION
• OPERATING CAPITAL EXPENDITURE THIS YEAR IS EXPECTED TO BE IN RANGE OF A$1.2 BILLION TO A$1.4 BILLION
• STOCK LOSS IS A PRIORITY AND WE ARE TAKING IMMEDIATE ACTIONS TO ADDRESS THIS
• IN LIQUOR, WE EXPECT TO OPEN APPROXIMATELY 20 NEW STORES, CLOSE SIX STORES AND RENEW MORE THAN 100 STORES IN FY24
• COST OF LIVING PRESSURES ARE LIKELY TO REMAIN FOR MANY AUSTRALIAN HOUSEHOLDS IN FY24
• RECENT INCREASE IN VICTORIAN PAYROLL TAX IS ESTIMATED TO HAVE AN IMPACT OF APPROXIMATELY A$20 MILLION PER ANNUM
• EXPECT TO OPEN OUR SECOND ADC IN FY24
• CASH FLOW CONVERSION MAY BE LOWER FOR FY24 RELATIVE TO PRIOR PERIODS.
• WELL POSITIONED TO BENEFIT FROM AUSTRALIA'S HIGH POPULATION GROWTH AND INCREASES IN AT HOME CONSUMPTION IN MEDIUM-TERM
• WILL SEE BENEFITS OVER NEXT FEW YEARS FROM A MORE RESILIENT AND EFFICIENT SUPPLY CHAIN